Do not auto-renew - review your options first. A mortgage renewal is a chance to compare rates, renegotiate terms, or switch lenders - often at no additional cost.
When your mortgage term comes to an end, you are presented with an opportunity. You are in the drivers seat - when your mortgage matures, you are free to choose from a multitude of other lenders competing for your business, and in most cases you can switch lenders at no additional cost.
As mortgage professionals, we have the tools to get the most out of your renewal. Whether it is negotiating a lower rate with your current lender or leveraging our position to secure a better rate with a competing lender, we are here to support your success. It is about getting the best solution for you and making an informed decision.
When your mortgage term is ending, your lender will automatically send you a renewal offer. While convenient, these offers are not always the most competitive or flexible - lenders count on renewals being accepted without a second look.
A renewal is more than a formality. It is an opportunity to reassess your mortgage and make sure it still aligns with your lifestyle, goals, and financial plans.
We help you approach your renewal with clarity and confidence, using our expertise to explore whether staying put, renegotiating, or switching lenders makes the most sense for you.
We start reviewing your mortgage well before your renewal date. This gives us time to assess your current rate, remaining balance, and any life changes that may influence your ideal mortgage structure.
We compare renewal offers, explore current market rates, and discuss options such as fixed vs. variable terms or adding flexibility to your mortgage. Everything is explained clearly so you can make a confident decision.
Whether you renew with your existing lender or move to a new one, we manage the paperwork, timing, and coordination to ensure a seamless transition with no interruption to your mortgage.
Your mortgage should not be a set it and forget it product. We stay in touch for periodic check-ins to ensure your financing continues to support your goals over time.
Many lenders count on renewals being rushed. Starting early gives you leverage, options, and peace of mind - and often better terms.
No. When your mortgage term ends, you're free to renew with your current lender, renegotiate better terms, or switch to a different lender entirely — usually at no additional cost. Your lender's renewal offer is a starting point, not your only option.
Ideally, review should begin 4–6 months before your renewal date. Starting early gives you time to compare rates, assess your financial goals, and negotiate from a position of leverage rather than under time pressure.
In most cases, no. Switching lenders at renewal typically comes at little to no additional cost, especially when the switch is coordinated properly and timed with your maturity date.
Renewing means signing a new term with your existing mortgage balance, either with your current lender or a new one, at your maturity date. Refinancing involves changing your mortgage terms before maturity, often to access equity or restructure debt, and may involve a penalty.
Yes. Renewal is one of the easiest times to adjust your mortgage — switching between fixed and variable rates, changing your amortization, or adding features like prepayment privileges or a HELOC.
Providing Experienced Mortgage Broker Services for Nanaimo and All of Vancouver Island
Whether you’re a first time homebuyer or seasoned real estate investor, someone who is looking for a new mortgage to refinance your current mortgage or you want professional negotiation assistance with your mortgage renewal, you’ve found the right place.
A-5107 Somerset Drive,Nanaimo, BC V9T 2K5
NanaimosMortgageExperts@invis.ca
Call us today 250-758-1200
