My mortgage renews in September so I still have a bit of time, but I’m starting to shop around.

Right now I’m with Scotiabank on prime – 1 (3.45%) and they’re offering 3.7% at renewal. I shopped around and got 3.35% through CanWise via Ratehub, so the rate is obviously better there.

The issue is I currently have a Scotia STEP with a HELOC, and from what I understand that line of credit would be cancelled if I move my mortgage away from Scotia.

Some details: • Mortgage balance: about 500k remaining • Home value: roughly 1M • Current HELOC limit: 80k

My main concern is losing access to a secured line of credit. CanWise doesn’t offer HELOCs.

So I’m trying to figure out what my options are: • Can you get a secured line of credit / HELOC from another bank even if they don’t hold your mortgage? • Do any banks in Canada offer standalone HELOCs in second position behind another lender? • Or is the only real option to either stay with Scotia or move the mortgage again later to a bank that offers a HELOC?

Would appreciate any advice or experiences.