If you’ve had a mortgage for more than one term, you’ve more-than-likely received a renewal notice from your bank or current lender. Obviously, the lender that currently has your mortgage (assuming you’ve made all the payments on time, etc.) wants to keep your mortgage. They’d love nothing more than to sign you up for another 5 years.
But when your mortgage comes up for renewal, don’t simply sign that renewal notice. Take the time to figure out if they’re offering you the best rate and options. Odds are, the rate in your renewal letter is far from their best rate – do some research, either on your own, or with the (FREE) help of your favourite mortgage broker.
Renewal time is a great opportunity to fine-tune your mortgage to fit your current needs. It’s likely that you’re in a different situation than the one you were in when you got the mortgage initially. Instead of potentially throwing money away to your current lender, and rather than spending hours going through websites and newspapers trying to find the best rate, let a mortgage broker do the heavy lifting for you. We work with dozens of different lenders, and because we play around in the sandbox of mortgages all day every day, we can easily get you set up in the best mortgage for you, and save you time and money.
