Is your mortgage coming up for renewal? Why not give us the opportunity to see if we can get you a better deal? Mortgage renewals are often one of the most overlooked decisions made during the life of a mortgage loan. Most homeowners stay with their existing mortgage lender because they believe it will be too time consuming to shop around – or they think their bank will offer them the best rate available. Banks do not always offer you the best rate with renewals and are hoping you will just sign the renewal and send it back. When you switch your mortgage your balance is transferred to the new lender and your new payment will be calculated on your new interest rate and in some cases the amortization can be increased or decreased. There are no fees applicable when you switch your mortgage at renewal. If you wish to increase your mortgage it will then be considered a refinance. Please check out our section on refinancing your mortgage for more information on this option.