Mortgage Penalty Consultants is a coordinated group of professionals, operating across Canada since 1996. We have been very successful in obtaining reductions for homeowners facing interest penalties on mortgages being paid out and discharged. Our service is uncomplicated, prompt and effective.



Payout penalties on residential mortgages are often higher than they could be.

Homeowners are rarely able to obtain payout penalty reductions without professional help.

We can be engaged by homeowners directly, or by Notaries/Lawyers on behalf of homeowner clients.

We have over a 60% success rate in obtaining reductions on behalf of homeowner clients.

The average reduction is 20% of the initial penalty. Sometimes we are not able to obtain a reduction; other times it is very significant.

For us to act on behalf of the homeowner all that is needed is a copy of the Payout/ Discharge Statement and a completed Direction to Review form. This is found here .



“My conclusion on the penalty reduction service is that it truly is a win / win situation. There is no way the client (homeowner) can be hurt – they either get money or they don’t. If they don’t then they don’t have to pay anything.  Since they usually do get a reduction they are usually very happy”.
Michael  W. Kravetz, Notary Public - Langley, BC


We charge only if we are successful. Our fee is 50% of any achieved reduction. There are no other costs of any kind to be paid to us.

We exercise any and all rights that a client has prior to payout. We work with the lender and do not jeopardize anyone's relationship with the lender.

 There are no "retainers" and we do not handle anyone's assets, cash, credit cards or accounts.

We deliver quickly. Conveyancers generally receive the revised payout statement from the lender within 2 business days of when the Direction to Review is delivered to us.

 We cannot act if the mortgage has been paid out.

“We have had a very large number of our clients who have used the penalty reduction service over the past year or so. It just takes us a few minutes on each one. Almost always there is a good result. Sometimes there is a very large reduction. (Homeowners) have absolutely nothing to lose by doing it. Since they usually gain and are happy, they appreciate our service more. The service is very fast and they are pleasant to deal with. I would definitely recommend the service to other Notaries, and to any homeowner facing a penalty.”
Stella C. N. Davis, Notary Public - Vancouver, BC