Renewing or Switching Your Mortgage

When your mortgage term ends you will need to renew it. You can renew with your previous lender, or you may opt to go with a different one.

We recommend you ask yourself some questions before you sign on the dotted line:

  • Have your mortgage needs changed?
  • Do you want to consolidate high interest debt in with your mortgage?
  • Do you want to tap into some of your home equity for a renovation project?
  • What kind of rate would you like to get upon renewal?

Do Your Homework

When a mortgage term is ending most big banks in Canada will send a renewal notice by mail, usually one or two months prior to the expiration date. The banks often try to take advantage of your busy schedule by making it easy to sign on with them for another term.

Nearly three quarters of Canadians sign this renewal without researching what the competition has to offer.

What many homeowners don’t realize is that the banks do not take the time to go through your current financials to see what the best option is for you. They tend to offer you their posted rate with very little or no discounts. The posted rate is never the best rate and there is usually room for negotiation.

If you don’t like the rate your current lender is offering you should check with other lenders to see what they have to offer.

Bank vs. Mortgage Broker

A Bank of Canada survey recently found that using a mortgage broker, such as, to refinance your mortgage can result in getting a lower rate. This is because brokers gather quotes from multiple lenders. They help you search through all the options and find the rate and mortgage that fits you best.

Why Switch to

Are you tired of mortgage brokers who disappear after the application process is over? Are you looking for a company that actually cares about finding the right mortgage for you?

At you'll deal with agents who are extensively trained and have access to many lenders and products. We'll work with you throughout the entire process, including assembling all the necessary information, to help make buying your mortgage as easy as possible.

Unlike the banks, we have your best interests at heart. offers several programs designed to fit your specific needs, and we’ll work extremely hard to find the very best rate.

In this industry it is not uncommon for brokers to advertise that your deal will be shopped to 30 lenders. Aside from being untrue, any agent that is shopping to 30 lenders should not be in the trade. Our agents are experienced and have great relationships with a number of different lenders. Based on your needs we’ll know exactly who to reach out to in order to get the mortgage that fits you best.