Mortgage Renewal

Roughly 70% of Canadians sign their renewal letter without shopping around. Banks count on it. The difference between an auto-renewal rate and a properly negotiated one is often 50–100 basis points—real money over five years.

Start the conversation 120 days early

You can typically lock in a renewal rate up to 120 days before maturity with no penalty. We start working your file at the 4-month mark so you're never negotiating from a position of urgency.

What we negotiate

Rate

Often the difference between posted and broker-channel pricing is the entire savings.

Term length

5-year fixed isn't always the right answer. We model 1, 3, and variable scenarios.

Prepayment privileges

Annual lump-sum allowance and payment-increase flexibility built into the contract.

Portability and assumability

Critical if you might move or sell mid-term.

Switching lenders at renewal

At renewal, you can switch lenders with no prepayment penalty. The new lender often pays your legal and appraisal fees. The whole process is paperwork on your end—we handle the rest.

Frequently asked

When should I start the renewal process?

120 days before your maturity date. That's the maximum hold period for most lender rate commitments and gives us time to compare offers without pressure.

Will I have to requalify?

If you're staying with the same lender, no. If you're switching, yes—you'll need to pass the federal stress test. We pre-qualify you before submitting anywhere.

Are there fees to switch lenders at renewal?

Usually not. Most lenders we work with cover legal, appraisal, and discharge costs as part of a "switch program."