While most Canadians spend a lot of time, and effort in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. Once your mortgage reaches maturity you will have the option to switch providers or renegotiate terms.
Omitting proper consideration at the time of renewal costs Canadians thousand 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 favorable interest rate.
Contact us today to see what options are available to you.