Renewal

Mortgage renewal rates are often much higher than current market rates. To avoid paying more, simply contact us when you receive the notice of renewal and we can provide you exclusive rates.

Step 1: Personal Consultation

Advise us of your mortgage renewal details (available from your lender:

• The lender’s proposed new interest rate
• Whether it’s a promotional or posted rate
• When the renewal offer expires
• What happens when your mortgage expires

We’ll help you:

• Review your current financial situation
• Decide whether to take out any equity
• Choose a new mortgage product that works better for you
• Compare features such as pre-payments, amortization, insurance and more

Step 2: Your Application

We’ll guide you through the application process:

• Your employment record, assets, and liabilities
• Current mortgage information
• A credit check

Step 3: Submit to Lender

Ideally, your application is submitted 4 – 6 months before your mortgage renewal date. During the lender’s review, we’ll keep a close eye on the mortgage market. If a better product or interest rate becomes available, we’ll let you know, even if it means switching lenders.

Step 4: Financing

Once your new mortgage is approved:

• The lender sends the required funds to your lawyer
• Your lawyer pays off your old mortgage and places the new one
• New lenders will often pay all legal and appraisal fees