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Get the best deal, every time.

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While most Canadians spend a lot of time and expend a lot of effort in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals.

By omitting proper consideration at the time of renewal, this practice costs Canadians thousands of extra dollars every year. Nearly 60% of borrowers simply sign and send back the renewal that is first offered to them by their lender without ever shopping around for a more favourable interest rate.

Generally, it is a good idea to start shopping for a new term between four and six months before your current mortgage term expires. Many lenders send out your renewal letter very close to the time that your term expires and this does not give you ample time to arrange for a mortgage term through a different lender.

Below are the five major milestones when renewing your mortgage:

  1. Early Assessment: We can start by reviewing your current mortgage terms, interest rate, and overall financial situation. Understanding any changes in your circumstances will help us tailor a solution that best fits your needs.

  2. Market Analysis: I will conduct a comprehensive market analysis to identify the prevailing interest rates and mortgage options. This will provide a benchmark for evaluating the competitiveness of your current mortgage terms.

  3. Renewal Options: You have several options for your mortgage renewal:

    • Renew with Current Lender: If you're satisfied with your current lender, we can explore the possibility of renewing with them.

    • Explore Other Lenders: We can investigate offerings from other lenders to ensure you are getting the most favourable terms available in the market.

    • Consider Refinancing: Depending on your financial goals, refinancing might be an option. This could involve adjusting the terms of your mortgage, potentially saving you money, or providing additional flexibility.

  4. Customized Solution: Based on our discussions and analysis, I will present you with a customized solution that aligns with your financial objectives, whether it's minimizing monthly payments, paying off the mortgage sooner, or accessing home equity.

  5. Documentation and Process: Once we decide on the best course of action, I will guide you through the necessary documentation and the renewal process to ensure a smooth transition.


Your mortgage is one of your biggest expenses. For this reason, it is imperative to find the best interest rates and mortgage terms you possibly can. By shopping around at renewal time you can save substantial amounts of money over the life of your mortgage loan.


Don’t be one of the 60% who just simply sign their renewal letter and send it back. Use the services of a licensed mortgage professional to ensure the lenders compete for your business.

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