Mortgage renewals
Your renewal letter is a starting point, not a final offer.
Most lenders send a renewal offer a few months before your term ends. You are allowed to compare it. We look at your offer alongside other lenders you may qualify with, and explain what a change would really cost and save.
Three ways to reach us
A question about renewals? Ask it plainly.
No application, no credit check. A licensed agent reads every message.
Send a quick question
A few lines is plenty. Leave an email or a phone number, whichever you prefer.
Write a messageBook a 30-minute call
Choose a weekday time that suits you. We phone you at that time. You get a private link to change or cancel.
See open timesMessage on WhatsApp
Quickest for a yes-or-no question. Opens WhatsApp with a short draft you can edit.
Open WhatsAppThis may be for you if
- Your term ends in the next 4 to 6 months
- Your payment is about to rise and you want to understand why
- You signed your last renewal without comparing
- You want to change amortization, payment frequency or term length
- 01
Share your renewal letter
Send us the offer, your current balance and remaining amortization. No commitment and no credit pull to start the conversation.
- 02
We compare suitable options
We look at your current lender's offer against other lenders whose criteria fit your situation, including fees and legal costs to switch.
- 03
You decide, with the numbers in front of you
If staying put is best, we will tell you. If switching helps, we coordinate the paperwork and timing with your closing date.
Your estimate
Try your own numbers.
Illustrative comparison
What could your payment look like?
Today
$7,004/mo
Proposed
$5,816/mo
Estimated monthly payment relief
$1,188
$14,257 per year lower
- Interest over 36-month term
- $202,148 vs $143,852
- Principal repaid in term
- $50,002 vs $65,526
- Interest saved, after costs
- $53,296
- Costs recovered in
- 5 months
- Payment relief and interest savings are different. Both are illustrative estimates only.
Optional. You don't need to share contact details to use this calculator. Results are estimates using Canadian semi-annual compounding, are not rate offers, and approval is not guaranteed.
Tradeoffs to weigh
- Switching lenders at maturity can involve appraisal, legal or discharge costs. These need to be weighed against any payment difference.
- Lengthening amortization lowers payments but usually increases total interest over the life of the mortgage.
- Switching lenders may require you to qualify again, including income verification and, in some cases, a stress test.
Eligibility
- Approval depends on your income, credit, property and the lender's own criteria.
- Some offers are only available for insured or low loan-to-value mortgages.
Questions people ask us
Independent guidance
Ready when you are.
Your enquiry arrives marked "Renewals" so we can prepare before we call.