Deferral of Mortgage & Loan Payments Due to COVID-19

Many of our member-owners have been in touch about deferring mortgage and loan payments as a result of income loss and the continued uncertainty surrounding the spread of COVID-19. With our day-to-day lives rapidly changing, we understand the need for financial relief from mortgage payments, as well as personal and business loan payments.

We have always offered options to defer mortgage and loan payments at times when our member-owners feel financial pressure, and this is no different. Usually, these deferrals take theform of a skip-a-payment option in the Fall/Winter when many of us face the most expensive time of year.

Member-owners who would like to defer their payments should get in touch as the up to 6-month deferral payments for mortgages and loans is not automatic. Instead, we offer this on a case-by-case basis so that we can be sure to meet your unique financial needs at this time. Thedeferrals are available to members on a flexible basis, those that can still make their payments may continue to do so if they choose.

Our mortgage and loan relief program has always supported our member-owners during times of financial stress, and we hope it gives you the breathing space to be able to focus on what matters most at this time – your health and your family.

To discuss payment deferral or learn more about deferring your payments, please call 416.366.5534 or 1.877.782.7639 or email inquiries@luminusfinancial.com. We will be more thanhappy to answer any questions you may have.