Renewal & Transfers

Early Renew PRIOR to Maturity Date

Why wait till maturity to save? Be proactive and save $1000’s by switching your mortgage to a lower interest rate PRIOR to your maturity date.

The million dollar question… “Should I break my mortgage early and pay the penalty for a better rate? Or wait till maturity date to renew?”

You must speak to your Mortgage Broker.  Ask them how much will I be saving on interest if I break my mortgage early and take a lower rate?  A Professional in the industry will be able to calculate your overall interest savings by switching to a lower rate…vs. penalty.  If your savings is higher, then it is best to pay the penalty and take the lower rate. Also, if you have multiple credit cards and loans at a higher interest rate.  It makes the most sense to consolidate all of your debt into your mortgage at one low rate and payment. This will give you the MOST savings per month! We have been experiencing historic low interest rates and many home owners are reassessing their current mortgage contracts including mortgage professionals themselves. You might have come to this stumbling block due to various reasons. The most common are to lower monthly payments, or consolidate high interest debt. Well the answer isn’t always as easy as it might seem.  And there are many factors to consider. It is best to book an appointment with your Mortgage Broker and consult on what is the best option to give you the most savings based on your situation! 

Transfer and Switch your Mortgage On Maturity

Is your Mortgage coming up for Maturity?

Before you decide to renew your mortgage with your existing institution.  Make sure you know all your options first. Most of the time your Mortgage Broker is able to find you a better interest rate on maturity date by switching your mortgage out to a different lender.  Many lenders give better rates and promotions on new business coming in then already existing business. Usually within 30-60 days before maturity date, your existing lender will send a renewal offer in the mail offering higher rates in hopes that the client will sign without exploring other options.  

Why transfer your Mortgage out to another Lender on Maturity Date?

  • All institutions will send you a renewal letter in the mail hoping you will sign. And NEVER post their best rate off the top
  • If you use our services to shop for the best rate on maturity, we will SAVE you $1000’s by finding the best rate
  • No penalties, no legal fees, no appraisal fees


We negotiate the best mortgage product and lowest rates for you

Email Newsletter Signup

Sign up for our Email Newsletter for the Latest News, Updates and Special Rates!