These days the banking sector is becoming more and more protective of their existing clients. Not by giving fantastic service or great pricing but by registering your mortgage as a collateral loan instead of a standard mortgage. What does that mean for you – the consumer? Your mortgage is now non-transferable!!! This new change ensures no more competing with other banks and no chance of taking your mortgage elsewhere with no fees on your renewal date. You will now have to see a lawyer every time you need to renew your mortgage. I guess banking gets more comfortable for one of the big banks starting October 18th.