WHILE MOST CANADIANS SPEND A LOT OF TIME, AND EXPEND A LOT OF EFFORT IN SHOPPING FOR AN INITIAL MORTGAGE, THE SAME IS NOT THE CASE WHEN LOOKING AT MORTGAGE TERM RENEWALS.
By omiting proper consideration at the time of renewal, this practice costs Canadians thousands of extra dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping around for a more favourable interest rate.
You’re always on the lookout for the best deal, right? So why should your mortgage be any different when it comes up for renewal?
Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing up for the market rate on a renewal is unnecessarily costing the homeowner a lot of money on their mortgage. Let me do the legwork for you – I will find you a very competitive rate and product to suit you.
If you’re wanting to renew/switch your mortgage to another lender who will most often give you a better rate, most lenders now offer “no cost or low cost switches.” We can take care of all the details for you and help you negotiate with your existing lender or find a new lender who will give you very competitive rates. Get us working for you today.
Most mortgages now come with the option to pay your mortgage at a frequency that matches your cash flow – weekly, bi-weekly or semi-monthly. The added benefit of the “accelerated” weekly and bi-weekly payments is that by dividing a regular monthly payment into two or four respectively, and deducting it at the new interval, an extra payment a year is made directly against principal.
Take advantage of my renewal registry! Register now and we will guarantee you the best rate 120 days prior to your renewal. You can register up to four years in advance – Contact me to discuss your options.