Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
For arm's length sales-it is the greater of three months interest OR interest rate differential to the current posted mortgage rate for remaining term. 1  CMHC mortgages registered prior to July 1999 - during the first three years, the penalty is the greater of 3 months interest OR interest rate differential.he lending institution must describe the penalty they could charge on the mortgage document. The most common penalty is: The greater of three months interest penalty OR the interest rate differential. In other words, whichever amount is the larger of these two figures will be your penalty.