Smart Mortgage Renewals
August 10, 2017 | Posted by: Richard Allatt
With every mortgage renewal comes the opportunity to reflect and assess your mortgage needs before you decide on a new mortgage product. Whether your term is 6 months or 10 years. Your mortgage lender will typically mail your mortgage renewal agreement 30 days prior to maturity. At this time we always encourage you to contact a mortgage broker to discuss your renewal options.
Follow these simple steps to make sure you secure the mortgage renewal that’s right for you:
Start early.
Did you know that you can renew your mortgage as early as 120 days in advance? As a valued mortgage customer, you may be eligible for our early renewal offers. This offer allows you to lock your mortgage in at current rates and renew early without paying a prepayment charge. Please note that this might not be applicable to everyone so please contact us for more details.
Consult a broker.
A mortgage broker will make sure you have the latest product and mortgage information to help you make a final decision. It's our job to keep you well informed.
Renew at maturity.
Many people wait for their mortgage to reach maturity before thinking about their mortgage renewal. If this is the case for you, your mortgage broker will try to get you the best possible lending rate and ensure you are protected from increases during the mortgage renewal process.
Contact your mortgage broker to learn more about mortgage renewals, mortgage refinancing, or debt consolidation.
