Mortgage Renewal
Your renewal is not a formality.
It is a negotiation.
Most Canadians receive a renewal offer from their lender and sign it without shopping. That is exactly what the bank is counting on. Your renewal is one of the most important financial decisions you will make — and it is also one of the easiest to optimize, if you have someone in your corner.
I review every renewal for my clients before they sign anything. And I have been doing this for over 30 years.
What I do at renewal
Review your lender's renewal offer and compare it to the market
Shop your mortgage across my full lender network
Negotiate a better rate — even with your existing lender
Assess whether this is the right time to refinance or restructure
Review your amortization and payment schedule
Identify any prepayment or flexibility options you should be using
Prepare you for the next term with a clear strategy
When should I start looking at my renewal options?
I recommend starting the conversation 4–6 months before your renewal date. This gives you time to shop the market, negotiate, and make a thoughtful decision without being rushed. Many lenders will let you lock in a rate 90–120 days before your renewal.
Can I switch lenders at renewal without a penalty?
Yes. At renewal, you can switch lenders without paying a prepayment penalty. This is one of the best opportunities to shop the full market and find a better product. I will handle the comparison and the paperwork.
Should I choose a shorter or longer term at renewal?
It depends on your situation, your goals, and where rates are headed. A shorter term gives you more flexibility; a longer term gives you more certainty. I will walk you through the trade-offs with real numbers so you can make a decision that fits your life.
What if I just want to stay with my current lender?
That is completely fine — but you should still know what the market is offering before you sign. Even if you end up staying, knowing your options gives you negotiating power. I will make sure you are getting the best possible terms, wherever you end up.