Mortgage Renewals

We work your mortgage renewal a little harder to get your best rate.

Your mortgage renewal time starts around 120 days (4 months) before the end of your current mortgage term. It’s an important time to explore your options — don’t sign without talking to us.

Many homeowners stay with their existing mortgage lender simply because they think it’s easier than shopping around, or that the offer from their existing bank is the best deal available.

What if it isn’t? Seize the chance to have us look around for you, before you lock in for another term. You could potentially save thousands, or even get into a better mortgage product if your needs have changed.

Our advice is free, and we quickly outline your renewal details to make your decision easier.

If you decide to make a change or to transfer to another lender, you may need an appraisal or extra paper work done.

Or, there may be pre-payment penalties that you haven’t been made aware of. We know the drill, and we’re here every step of the way to make your decisions as stress-free and transparent as possible.

Need a helpful reminder? Use our mortgage reminder tool, and we’ll send you a note about 120 days before your renewal comes up. Then, give us a shout or apply online to get started on your process.

This time, get a better rate.

You wouldn’t be the first homeowner to suffer from rate remorse. If you feel that you could have gotten a better rate on your last term, we can help.

At Gomez Mortgage, getting you a better mortgage is our favourite workout (come on, work it, work it!). We make it easy, checking with all lenders, even your own bank — we’re quite competitive on your behalf.

You don't need to wait for your bank renewal statement to explore your options.

Your lender may send a renewal offer early. Or, they may not.

Legally, your lender has to send your renewal statement at least 21 days before your mortgage term ends. Three weeks, however, doesn’t leave you with a ton of time to research your options (although we can give you an answer, fast!).

First, go to your lender to ask for their best offer.

Even if they’ve provided an early renewal offer, be confident about your right to go back to them to negotiate for their best rate or mortgage product.

Contact us for all the options, at no cost or obligation.

We may be able to beat their rate or help you decide on a better mortgage fit to address your changing needs. The bottom line is that you should have all the information available to make the best decision for your mortgage renewal or transfer.