Mortgage Renewal
Before you sign the renewal, compare the whole deal.
Your lender’s renewal offer is convenient, but it may not be the only option. Review the rate, term, penalties, flexibility and your plans before committing.
Renewal offer reviewSee what you were offered
Term strategyMatch the mortgage to your plans
Switching optionsUnderstand what may be available
Lovepreet GrewalMortgage Agent Level 2
OfferRate and payment
TermsPenalties and flexibility
OptionsStay or switch
What should be reviewed before signing?
1
Your current offer
Rate, term, amortization, payment and whether there are changes to the mortgage structure.
2
Your next few years
Plans to move, refinance, sell, invest or make large prepayments can affect the right structure.
3
Cost to switch
Compare available alternatives and any costs involved before making a decision.
Have these handy if possible
- Renewal letter or offer
- Approximate current mortgage balance
- Current lender and maturity date
- Any plans to move, refinance or access equity
Renewing soon?
The closer the date, the more important it is to review your options promptly.
Call Lovepreet