Neil and Penny D. live in Oakville Ont. where the average price for a home is more than $1 million. The couple are self-employed and have their mortgage with a monoline at a rate of 2.59 per cent. Neil runs a very successful business and wanted to refinance his principal residence to expand his business. But with the new rules, he doesn’t have the option to refinance his mortgage at the monoline. So he had to pay a penalty of almost $5,000 and bring his mortgage to an alternative lender at a rate of 3.99 per cent and an additional one per cent fee on the mortgage. This was a transaction that could have easily been done with the current lender before the changes took place. The couple wouldn’t have incurred a penalty since their rate would have been blended, and they certainly wouldn’t have to pay a much higher interest rate and a one per cent fee.