Renewal
Most people choose to stay with their existing lender when their mortgage term ends. The reason behind this is convenience, and it’s usually not because they’re getting the best deal. Rather than switching to another lender (free no-cost switch), the majority of people don’t want to endure any further hassles and simply sign the renewal sheet. We don’t recommend you do this. Instead call your bank and get them to quote you their best rate. Then call us and, in most cases, we’ll offer something better for you. The application involves a little paperwork, but is well worth your time and effort, as you will save money and much stress in the long run. Think of mortgage brokers as being able to offer wholesale versus retail mortgage rates thanks to our access to dozens of lenders and the large amount of volume we fund each year.
