Is your mortgage up for renewal?

Let's look at all your options, so you can get the best mortgage product for you. 

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What to do when your mortgage is set to renew.

Start Early

When your existing mortgage term is set to expire, and your mortgage is ready to renew, you should start looking at your options up to 6 months in advance. Typically your existing lender will send a renewal offer in the mail, you should NOT sign this, instead this is the best tome for you to consider all your options. Give me a call, we can discuss the next steps together. 

Look at ALL your Options

Did you know that up to three quarters of Canadians simply sign the renewal letter from their lender without looking for a better deal? Given this, of course the banks won't make you their best offer at the outset. It's all business to them, and they are in the business of making money, from you. Let me take a look at your financial situation, and outline the best mortgage products available on the market. 

Switch Lenders

Given your current financial situation, it might make sense to stay with your existing lender. However, it might also make sense to find a new lender; one who has a better mortgage product to suit your needs. As your existing term is set to expire, you can switch to a new lender without paying a penalty and most of the time, the lender will even cover the legal costs to switch your mortgage. 

Mortgage Refinance

When your mortgage is up for renewal, not only can you renew with your existing lender, or switch to another lender, but this is a great time to consider a mortgage refinance. Through a refinance, you can access some of the equity that has been built up in your home over the past years. When you refinance at renewal, you save the penalty of breaking your existing mortgage term. 

When your mortgage is up for renewal, get in touch and we'll look at all your options together! 

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Mortgages by Christine MacPherson

Chances are you'll have a lot of questions when buying your first home. I'm here to answer all of them. 

Today's housing market is more diverse and complex than ever before. My role as your Licensed Mortgage Agent is to guide, educate and help you understand the mortgage market.


My Business Diploma from NAIT and experience in lending, administration and accounting within the private and public sector makes me uniquely qualified to give you personalized service and unbiased advice in finding the best mortgage solution at no cost to you!


Recently, I moved back to Sherwood Park, Alberta, after living in Okotoks for 18 years. I am familiar with both southern and northern Alberta as well as other areas of Canada. 


Let me help you with whatever you need - a new home purchase, refinancing for renovations or debt consolidations, mortgage renewals, reverse mortgages, New-to-Canada programs, vacation and rental properties.


Please reach out today!

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