Does the line show in the photos when you upload them to a pc? If so it's a faulty sensor. If not it's a faulty LCD display panel. Sensor faults like this don't always show in the electronic viewfinder as it has a lower resolution than the LCD screen.
Either way, unless you purchased your camera just as it was released you should still be covered by the manufacturer's one year warranty. If not then you're looking at a very expensive repair bill if it's the sensor and around £100 (still fairly expensive) if it's the LCD, but Canon are usually responsive to requests for goodwill repairs when faults as major as these occur just outside the warranty, especially when it's still a current model.
If you purchased the camera in the UK you'll have additional protection for up to six years (five in Scotland) under the
Sale of Goods Act. Amongst other things, it says that retailers must supply goods which are of durable quality considering the price paid and intended use. A camera which cost around £350 new should arguably be expected to be able to take acceptable photos for at least four years, and you'd certainly expect items which do not affect the image quality such as LCD faults to last at least a couple of years. if the Act applies to your purchase, then you can claim against the retailer for either a refund (full, or a part refund to take into account beneficial use to date) or for a replacement (doesn't have to be new or even the same model.just one which substantially does what your current model should be able to do). In practice, it's usually best to approach the manufacturer first with costly faults like yours.
If your camera is still under warranty then I highly recommend
Colchester Camera Repair Service if you're in the UK.
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