Contact me to discuss rates.

When Your Mortgage is Approaching

The Maturity Date Your Lender Will Reach Out to Discuss Renewal Options.

Before signing back a renewal form, it’s best to first look into other options to see where interest rates are at. In many cases your lender may not offer their best rates for a renewal.

They are counting on you taking advantage of the convenience of simply signing a new term or clicking on their renewal offer. The difference between what they’re offering and what is available elsewhere could be significant over the course of a new term.

While there are certain costs involved in moving the mortgage, most of these will be absorbed by the new lender in order to get your business. For example, the legal costs and, if necessary, the appraisal costs will be covered. That makes switching lenders far more appealing, especially when you factor in a more competitive rate!

It generally takes a few weeks for a mortgage to be approved and moved to a new lender so make sure you don’t leave it till the last minute. Most lenders will reach out to you well in advance of the maturity date so you should have plenty of time to make a decision.

Remember, don’t be too quick to sign back a renewal offer. Contact me to discuss what rates are available so you can make an informed decision.

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1 Hunter Street East
Hamilton, ON
L8N 3W1

Agent Licence Number 10002154. Brokerage Licence Number 10346.

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