Mortgage Renewal

Home/Mortgage Solutions/Mortgage Renewal

Do NOT Sign that Mortgage Renewal Letter.

Not ever! As you probably already know, the initial renewal rates being offered to you are almost certainly not competitive. Why? It’s your bank’s first offer…that’s right, they’re negotiating.

Yet over 2 out of 3 Canadians simply DO re-sign at the end of their mortgage’s term, potentially costing them thousands of dollars in interest. Why? For reasons I completely understand: you don’t want to suffer through the same hassle as you did when you first got the mortgage, or you may simply not have the time to explore your alternatives. Not to worry, that’s MY job

…and perhaps there’s more to it than that: has your financial situation changed since you first got the mortgage? Might this be scaring you out of discovering your options, and forcing you instead into a potentially expensive renewal with “no questions asked?” I hear you. Other clients in the same dilemma have sought my confidential (and as always, free) advice.

All of that said – it might be easiest in your situation to phone your current lender and just ask them to sharpen their pencil. And I say go for it. But PLEASE ask yourself first:

I’ve been their client for years. Why do I have to ask them to do better??

Think about it.

CLICK HERE to Arm Yourself

Toma Sojonky - Mortgage Advisor

Mortgage Brokers Association of BC
website by servoweb