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Service Nova Scotia

Mortgage Lender Licence

Who Needs This Licence?
Any mortgage lenders who want to do business in Nova Scotia.
Issuing Department / Agency:
Service Nova Scotia
Where can you get this Licence and / or further information?
  Contact: Business Licensing Section
Service Nova Scotia
  Telephone: 902-424-5200 (in metro)
  Toll-free: 1-800-670-4357 (within Nova Scotia)
  E-mail: REGLICENSING@novascotia.ca
  Visit: Maritime Centre (Aliant Building)
9th Floor (North)
1505 Barrington Street (at corner of Spring Garden Road)
Halifax, Nova Scotia    B3J 3K5
(By Appointment Only - Call 902-424-5552)
  Write: PO Box 2723
Halifax, NS   B3J 2Y4
  Fax: 902-424-0602
  Website: https://www.novascotia.ca/sns/access/individuals.asp
Application Forms & Process:
With this Licence, there are two different ways to submit your application form: 

A) You can send in a hard copy. You can get a form by: 
       (1) downloading a form from our website; 
       (2) visiting any Access Nova Scotia Centre; or 
       (3) calling or writing the office listed above. 

Regardless of the process used to apply for this licence, permit, registration or certificate, you must send in the signed original application containing your signature in ink. If a signed copy is not submitted, you will be requested to do so which may lead to a delay in the issuance process.

B) You can fill it out online. To do this, you must be able to payby Visa, MasterCard or American Express Credit Card. We cannot accept any form of Debit cards at this time. 

If you wish to apply online, click here. Before you begin, make sure you have at hand the information listed below! 

Information you will need to fill out your application form:

  • Details are required if the applicant or any partner, officer or director has
 

 

 

 

  • had a business licence
  • had a licence refused, suspended or revoked
  • been involved in a personal or corporate bankruptcy
  • unpaid judgments outstanding
  • been convicted of a offence under the law and not been pardoned
  • Name, address and date of birth for the applicant, partners and officers
  • Three year employment history for the applicant, partners and officers
  • Address and manager's name for all branches


You can get a Licensing Guide from any Access Nova Scotia Centre or from the Business Licensing Section listed above.

The completed application is submitted to the Department, along with the applicable fee (see Price below).

With the application form, you must also submit a sample mortgage document, disclosure format, and borrower's annual statement, for review and approval.

If all requirements are met and the application is approved, the licence will be mailed to the applicant.

Waiting Period:

10 business days
Provided that all the items that must accompany the application have been received
(Please allow several extra days for mail delivery.)

Expiry & Renewal:
This licence is valid for 1 year from the end of the month in which it was issued. It can be renewed, the Department will send out a renewal notice to the licence holder before the licence expires.
Price:  (No tax is charged)
Initial Licence and annual renewal: $265.45
Per branch: $33.00

If you send in an application, payment is by cheque or money order made out to the Minister of Finance. No credit or debit cards are accepted at this time. 

If you apply online, payment is (a) by Visa, MasterCard or American Express credit card. No debit cards are accepted at this time.

Related Requirements:
The business must be registered with the Registry of Joint Stock Companies .
Additional Information:
Who is regulated under the Mortgage Brokers and Lenders Registration Act?
Companies or individuals who:
1) directly or indirectly lend money by way of a mortgage;
2) carry on the business of dealing in mortgages;
3) hold themselves out as mortgage brokers or ones who deal in mortgages.

What is regulated?
1) the information provided to borrowers regarding the major components of the transaction;
2) the consumer's right to assign a mortgage to another lender;
3) the limitations on the levying of pre-payment penalties with respect to mortgages;
4) the information to be provided annually to borrowers.

Legislative Authority: 
Mortgage Brokers and Lenders Registration Act, Revised Statutes of Nova Scotia, 1989, Chapter 291


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