What do borrowers need to do when their mortgage comes up for renewal?

Author: Boychuk Mortgage Group |

This is your moment to take charge of your financial destiny. When your mortgage is up for renewal, follow these steps:

  • A Financial Checkup: Reflect on your current financial situation, income, expenses, and your long-term goals. It's like a personal financial checkup.
  • Reach Out to Us: Don't navigate the renewal journey alone. Get in touch with our experienced mortgage advisors. We're here to help you understand your options and guide you through the renewal process, ensuring you make informed decisions that align with your unique circumstances.
  • Secure the Best Mortgage Rate: During your renewal, you have the chance to shop around for the most competitive interest rates. You are not tied down to your current lender. In most cases, your lender will offer you a renewal rate that is unfortunately not the best available interest rate or term. This is because many of us will simply sign the renewal letter as it is easy and quick. More often than not, there are thousand of dollar's being left on the table. At Boychuk Mortgage Group, we can help you explore different lenders and financing options, ensuring you secure the best deal available. This is not to say remaining with your current lender is not the right option, though it is crucial to reach out to your independent mortgage team who can help you shop all the best interest rates, terms, and mortgage solutions that best fit your needs for years to come.
  • Paperwork Made Easy: The paperwork doesn't have to be daunting. Our team will help you complete the necessary forms, making the transition from your current mortgage to the new one smooth and hassle-free.