Mortgage Renewals
Once you have a mortgage, it is so easy to simply “sign on the dotted line…” when the time for your renewal comes around. This is exactly what banks and lenders bank on: everyone is so busy that the easiest thing to do is sign that renewal offer that came in the mail.
STOP! Don’t sign!
Renewal time is the BEST time to review your mortgage and financial needs. It is the best time to assess and ensure that your mortgage, your lender, and the mortgage product that you have, will meet your financial goals for the future.
In our experience, renewal offers are almost NEVER the best deal that is available in the marketplace, no matter whom the lender is. It doesn’t matter who helped you out the last time you got a mortgage, whether you went to the bank, or to another mortgage broker, let us review your offer and provide you with a second opinion based on knowledge, expertise and integrity.
TAKE the TIME to meet with us for FREE and we will review your individual circumstances and needs and will determine if you are in fact, being offered the best rate and mortgage product to meet YOUR needs. If you are being offered the best deal then at the very least you will gain confidence in the confirmation that this is indeed the case! An hour of your time could save you thousands of dollars!
Things to think about before your mortgage renews
- Are you comfortable with your current mortgage payments?
- Can you handle fluctuating rates?
- Will you be selling your home soon?
- Do you need cash flow for other things?
- Are there any renovations you would like to do to your home?
- Are there any major life events that may require large sums in the near future (i.e. university education)
- When do you want to be mortgage free?
- Do you plan on buying any other properties in the near future (i.e.cottage, rental property)?
- Have your insurance needs changed?
- Have you saved enough money for your “other” plans, such as retirement?
Interested in learning more? We’d love to help!