• menu_logo_eIt always surprises me when I hear people say they simply renewed with their existing bank or mortgage lender. With today’s historically low rates compared to just a few years ago, it’s important not to be too quick to renew or refinance your mortgage with your existing lender until you check out all your options. Yet approximately 70% of Canadian mortgage holders will do just that, and the usual result is a typically higher interest rate and a mortgage product that might not be best suited to specific needs.  Lenders are counting on the fact that most homeowners are too busy to ask all the right questions or to even inquire about getting a better rate. Don’t let this happen to you! 

    You should recognize that you are now negotiating from a position of strength as your mortgage principal has dropped and in most cases your home value has increased.  Lenders will most likely see you as a lower risk borrower and consequently you should be getting the best rates and terms available. That won’t happen if you simply sign the renewal document provided by your existing mortgage holder. We make the lenders compete for your business to be sure you do in fact get the best mortgage possible. We’ll review your current situation and ensure you get the best rate and terms suited to your needs. We can even sometimes hold the best interest rates up to 120 days before your renewal date! It’s definitely worth a quick call to ensure you’re making the right decision.

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