Renewal

If your mortgage renewal is fast approaching then you’ll soon be at an important financial milestone. Lenders send out renewal forms just prior to renewal dates to those with good payment histories, with about 70% of homeowners sending it back without asking any questions. In today’s hectic world, that can be the easiest and best route, but you should ask yourself some questions before you sign on the dotted line. This could be an important moment of opportunity.

Maybe your mortgage needs have changed. This is the time to decide. For example, is this the right time to tap some of your home equity for a renovation project? Or maybe you’re considering a cottage or vacation property. You should also take a look at your other debts; many Canadian homeowners have taken advantage of historically low rates – and rolled all their other higher-interest debts into a mortgage.

Are you confident you will get the best rate at renewal? Having multiple lenders compete for your business is a great way to ensure you get the best rate for your situation. We deal with over 50 lending institutions, including major banks, credit unions, trusts and other national and regional lenders, which means we can put significant negotiating power behind finding the best mortgage to fit your specific situation.