5 Reasons to Contact a Mortgage Broker for Your Upcoming Renewal
So, your mortgage is up for renewal—now what?
Most Canadians receive a renewal letter from their lender and sign it without giving it a second thought. While that might seem convenient, it can also mean missing out on better rates, flexible options, and money-saving opportunities.
Here are 5 smart reasons to reach out to a mortgage broker (like me!) before renewing your mortgage:
1. Better Rates (Seriously)
Lenders rarely offer their best rates in renewal letters. They’re hoping you’ll sign without shopping around.
As a mortgage broker, I work with multiple lenders, not just one bank so I can compare rates and help you secure the most competitive offer available, tailored to your needs.
2. No Cost, No Pressure
Working with a mortgage broker is typically free for you—we’re compensated by the lender once your mortgage closes. That means you get expert advice, rate comparisons, and custom solutions without paying out of pocket.
3. Your Life Might Have Changed
Maybe you’ve had a promotion, started a business, expanded your family, or want to pay your mortgage down faster.
At renewal time, we can reassess your goals and adjust your mortgage strategy to match your current lifestyle—not the one you had 5 years ago.
4. Penalty-Free Time to Switch
When your mortgage term ends, it’s one of the few times you can switch lenders without penalties. This is your golden opportunity to explore better rates, more flexible terms, or a different lender that’s a better fit for you.
5. More Than Just the Rate
It’s not just about the lowest rate. Prepayment privileges, portability, penalties, payment frequency, and flexibility all matter. I’ll help you look at the full picture to make sure your mortgage supports your financial goals—now and in the future.
Final Thoughts
Your mortgage renewal is more than just paperwork—it’s a chance to save money, gain flexibility, and reset your financial strategy. Don’t let that opportunity slip by!
If your renewal date is coming up in the next 4–6 months, let’s chat. A quick conversation now can make a big difference later.
Reach out anytime—I’m here to help!