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14 Jan

6 Tips to Help Renew Your Mortgage


Posted by: Michael James

6 Tips To Help You Renew Your Mortgage

A common statement that many of our new clients that come to us when their existing mortgage is up for renewal is “ we are so glad that we called you”. Or ” I am so happy that I did not just sign the original offer from my current lender”

This is a recurring problem that happens to most people at the end of their mortgage term. The existing lender will send out a renewal statement with their current mortgage offerings. This statement is sent in the hopes that the client simply signs the lenders offerings without doing their research. This hasty action ends up costing the mortgage holder thousands if not tens of thousands of dollars over the term of the mortgage and essentially extends the time it takes to pay it off which is exactly what the bank wants.

Here are 6 useful tips to help you avoid this same mistake

  • Get Going Early.
  • Do Your Home Work.
  • Never Accept The Banks Posted Rate.
  • Negotiate.
  • Change Lenders.

With over 50 lenders to choose from, I can always find the right mortgage with the best available interest rate. Contact me before your mortgage is up for renewal, I can help you get the best mortgage for your home. I look forward to hearing from you.