Here are some of the steps involved in making a home
buyer's withdrawal.
We would have to sell
the positions from your current mutual fund holdings to initiate the withdrawal.
We can take funds from both a regular and a
spousal account.
Once the funds have been converted into cash we can issue a cheque. It usually
takes about a week for this type of transaction, but we can speed up delivery of the
funds with instructions for direct deposit to your bank account (there is
a $17 charge to wire to non-Scotia Bank Accounts).
There may be Deferred Sales Charges on the the funds in your account.
We can research this if the initials DSC appear on your fund holdings.
(DSC fees are charged by the Mutual Fund Companies to redeem units prior to their
maturity.)
To withdraw for the First-Time Homebuyer's Plan, you will need to complete the
Homebuyer's Withdrawal form: T1036
(REMINDER: Don't forget to send us a MKYC form to update your address once you've moved.)
You can fax these forms to your ScotiaMcLeod Wealth Advisor, but he/she must receive the originals by mail before a cheque can be issued.
One of the better resource guides is
AIM/Trimark's HBW guide.
For more information on the Homebuyer's Plan, please visit the CCRA
website:
Please contact your ScotiaMcLeod Wealth Advisor directly for more information or for investment advice tailored to your personal situation.
The information contained on this website is for use by persons resident in Canada only.
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