Mortgage: renewal
Mortgage renewal
When your mortgage term is coming to an end, you don't have to simply accept your lender's renewal offer. Sukhpreet compares available options and helps you understand the terms, rates, and features that may better suit your current situation.
Your renewal is an opportunity to review your mortgage
Your current lender may offer you a renewal rate, but that doesn't necessarily mean it's the best option for your current needs. A mortgage review can help you compare rates, features, and available alternatives before making a decision.
What can you do at renewal?
Continue with your existing lender
Review the renewal offer, rate, term, payment structure, and mortgage features before accepting.
Explore a better fit
Compare other lenders and mortgage options to determine whether switching may provide better terms or features.
Blend and extend, or switch?
Depending on your situation, you may have different options when your mortgage term ends. Sukhpreet helps you understand the potential costs, benefits, and trade-offs so you can make an informed decision.
Blend and extend
Explore whether combining your existing rate with a new rate and extending your term makes sense for your situation.
Switch lenders
Compare another lender's rate, terms, and mortgage features before deciding whether to move your mortgage.
What we'll compare
Rate
Compare the rate you're being offered with available alternatives.
Terms
Review the mortgage term and conditions.
Features
Understand the features included with each option.
Overall fit
Consider how the mortgage fits your current financial situation and goals.
A simple renewal process
Step 1
Review
Start with your current mortgage and renewal offer.
Step 2
Discuss
Tell us about your current situation and what has changed.
Step 3
Compare
Compare available lenders, rates, terms, and features.
Step 4
Decide
Choose the option that best fits your needs.
Common questions
When should I start thinking about renewing?
Lenders usually send a renewal offer a few months before your term ends. It is worth reviewing your options as soon as it arrives, or earlier, so you are not rushed into accepting the first offer.
Do I have to accept my lender's renewal offer?
No. You can compare other lenders and products and, in many cases, move your mortgage at renewal. Whether there are costs to switch depends on your mortgage, so check your terms or ask Sukhpreet.
Can I change my amortization or payment schedule at renewal?
Often yes, subject to your lender's rules. Changing the amortization or payment frequency changes your payment and the total interest you pay, and Sukhpreet can show you the difference.
What if my situation has changed since I got the mortgage?
Tell us. A change in income, a new debt, or a plan to renovate or move can all affect which renewal option suits you best.
Why review your mortgage with Sukhpreet?
More options
Access to multiple lenders can give you more options to consider.
Clear explanations
Understand rates, terms, and features before making a decision.
No-pressure guidance
Get straightforward information so you can make a confident choice.
Meet Sukhpreet
Mortgage Agent, Level 1, Mortgage Alliance, Licence #10530
Sukhpreet works closely with clients to help them navigate the mortgage process with clarity and confidence.
- 20+ lender access
- Fast pre-approvals*
- Client-first guidance
*Timelines depend on document completeness and lender response.
Read Sukhpreet's full profile
Talk to Sukhpreet
Share a few details and we'll call you to talk it through. The first conversation is free.
- Call
- 613-306-9900
- Office hours
- Monday to Friday9:00 AM to 6:00 PMSaturday10:00 AM to 2:00 PMSundayClosed
- Visit
- 101-14 Chamberlain Ave
Ottawa, OntarioGet directions (opens Google Maps in a new tab)