TD is making updates to simplify and clarify the Business for Self (BFS) Policy.

Why is this change being made?

These updates streamline the application process and improve cycle time, which will provide policy and documentation clarity.

What you need to know:

The following updates are effective November 17, 2025:

• Increasing LTV to 80% for income gross-ups over 20% from 75% maximum LTV.
  
• Removing the requirement to confirm closing costs for conventional applications.
  
• Updating submission requirements of Business for Self-applications.
  
• Clarifying the rationale for income gross-up amounts.
  
• Updating the list of eligible properties.
  
• Second Home, Cottage properties and Recreational properties added for Conventional financing.
  
• Investor Properties added for standard Insured Business for Self Mortgage.
  
• Updating Sagen/Canada Guaranty Alt A. and Low Doc Advantage Business for Self program details.
  
• Updating confirmation requirement of Business Status and Ownership.
  
• Clarifying Business for Self income confirmation requirements and documentation.
  

What you need to do:

On November 17, 2025, review the BIK sections 4.1, 4.2, and 7.13 to familiarize yourself with the updates.