Your mortgage renewal isn’t just another checkbox—it’s a chance to take a fresh look at your finances and make sure your mortgage still fits your life. Whether you’re hoping to lower your payments, access equity, or just make sure you’re still getting the best deal, we’re here to help you renew with confidence.
Let’s walk through what a mortgage renewal is, why it matters, and how we can help you make the most of it.
What Is a Mortgage Renewal?
A mortgage renewal happens when your current mortgage term ends—typically every 1 to 5 years. At that point, you’ll need to either:
- Renew with your current lender, or
- Explore options with a new one.
Renewing gives you the opportunity to renegotiate your interest rate, term length, payment schedule, and other key details. If your financial goals have shifted since you first signed your mortgage, renewal is the perfect time to make your mortgage work better for you.
Don’t Just Sign That Renewal Letter
It might seem easy to sign and return your lender’s renewal letter—but doing so without reviewing your options could cost you thousands over time.
Lenders don’t always offer their best rates upfront—especially if they expect you to auto-renew. Working with a mortgage broker gives you the upper hand. We can help you:
- Compare rates across multiple lenders
- Negotiate better terms
- Align your mortgage with your current financial goals
Renewing is your chance to put your needs first—not your lender’s.
Common Financial Goals at Renewal
Here are some of the most common reasons clients adjust their mortgage during renewal:
- Lowering monthly payments or securing a better interest rate
- Consolidating high-interest debt into the mortgage
- Accessing home equity for renovations, investments, or life goals
- Changing amortization (length of your mortgage)
- Switching from variable to fixed rate—or vice versa
Your mortgage should reflect where you are now, not where you were years ago.
When Should You Start the Renewal Process?
Start looking at your options 4 to 6 months before your renewal date. This gives us time to:
- Lock in competitive rates early
- Run payment and amortization scenarios
- Help you make an informed, stress-free decision
Don’t wait until your term is days from ending—starting early gives you the most flexibility.
What You’ll Need to Renew
If you’re staying with your current lender, the paperwork is usually minimal. If you’re switching lenders, here’s what you’ll likely need:
- Your most recent mortgage statement
- Proof of income (like pay stubs or employment letters)
- Property tax information
- Valid ID and a void cheque
We’ll guide you through each step and handle most of the paperwork for you.
How We Can Help
We’re not tied to one lender—which means we can:
- Compare rates from dozens of lenders
- Explore flexible options that match your goals
- Handle all the communication and paperwork
- Make your renewal experience smooth and stress-free
Let’s Make Your Renewal Work for You
Your mortgage renewal is a powerful opportunity. Let’s use it to your advantage. Contact us today to review your options and feel confident about what comes next.