When should I start thinking about renewal?

Ideally, 4-6 months before your maturity date. This gives us enough time to shop rates, compare options, and arrange a transfer if needed. Most lenders allow a rate hold 120 days in advance.

Is there a cost to switch lenders at renewal?

In most cases, switching lenders at renewal is free. The new lender typically covers legal and appraisal costs. However, if you're breaking a mortgage early (before your renewal date), penalties may apply.

What if my current lender offers me a good rate?

Even if your lender's offer seems competitive, it's worth having us shop around. We often find rates 0.25-0.5% lower, which can save thousands over a 5-year term.

Mortgage Service

Mortgage Renewal

Don't just sign - let us find you a better deal

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Overview

Why You Should Never Just Sign Your Mortgage Renewal

When your mortgage term is up for renewal, most homeowners simply sign what their current lender offers. This is often not the best rate available. As your mortgage specialist, I shop your renewal across 40+ lenders to ensure you get the best rate and terms - potentially saving you thousands over your next term.

Have questions? Call us directly647-222-7071

Benefits

Advantages of Shopping Your Mortgage Renewal

Start the renewal process 120 days before your maturity date
Shop your renewal across 40+ lenders
Potentially lower your rate significantly
Opportunity to change your term length or type
No obligation to switch lenders
Seamless transfer process if you do switch

Most Canadian homeowners simply sign their lender's renewal offer without shopping around. Studies show that lenders rarely offer their best rate on renewal letters because they count on borrower complacency. By having a licensed mortgage agent compare your renewal across 40+ lenders, you could save 0.25% to 0.50% or more on your interest rate - translating to thousands in savings over a 5-year term.

Renewal time is also the perfect opportunity to restructure your mortgage. You can change your term length, switch between fixed and variable rates, adjust your payment frequency, or increase your payment amount - all without penalty. If switching lenders makes financial sense, the transfer process is seamless and typically free, as the new lender covers legal and appraisal costs.

We recommend contacting us 4 to 6 months before your maturity date. This gives us time to secure the best rate hold and explore all available options. There is never a cost or obligation for our renewal review service across Brampton, Toronto, Mississauga, and all Ontario communities.

How It Works

How Our Mortgage Renewal Process Works

We have streamlined the mortgage process to make it as smooth and stress-free as possible.

Early Review

Market Comparison

We compare your lender's renewal offer against 40+ other lenders.

Negotiate or Switch

We either negotiate a better rate with your current lender or arrange a transfer.

Renewal Complete

Your new term begins with better rates and terms.

Areas We Serve