In order to avoid renegotiating hassles, most people choose not to challenge the rate and terms offered to them. Lenders are mindful of this and will therefore not give the lowest available rate or best terms. A mortgage is typically the biggest expense you will ever have, and this mistake could potentially cost you thousands. Remember: you don’t have to renew with the same lender and you should always consult with your mortgage broker before you accept any offer. In doing so, at renewal time, you can secure the most competitive rate and conditions for yourself.

We provide homeowners with mortgage renewals for those seeking early renewals or homeowners requiring pre-approval for renewal. With an early mortgage renewal, you might find that the current interest rates are much lower than your what you’re paying now. If that is the case, you can opt to renew your mortgage early. However, renewing your mortgage early will come with penalty costs, but these penalties are often much less than you will save at the new lower interest rate. If you’re not sure if renewing early makes sense, our team will gladly sit down with you and go through all the numbers.