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How to make the most of your mortgage renewal.
Renewing your mortgage is an excellent opportunity to reassess your financial goals and explore new options. As your mortgage term comes to an end, it’s important to take the time to review your needs and ensure your next term is aligned with your financial situation. Here are some tips and advice to help you make the most of your mortgage renewal:
Start Early
Don’t wait until the last minute to think about your renewal. Begin reviewing your options 4-6 months before your current term ends. This gives you plenty of time to shop around, compare offers, and negotiate better terms.
Reassess Your Goals
Your financial situation and goals may have changed since you first signed your mortgage. Use this opportunity to evaluate whether you need a shorter term, a different payment schedule, or a lower interest rate to better align with your current objectives.
Compare Offers
Loyalty to your current lender doesn’t always guarantee the best deal. Consult our team to compare rates and terms from multiple lenders. Switching lenders at renewal can often lead to better rates and savings.
Consider Fixed vs. Variable
Renewal is a great time to reassess whether a fixed or variable rate mortgage is the right fit for you. Consider market conditions, your risk tolerance, and financial goals to decide which option provides the best balance of stability and flexibility for your needs.
Renewing your mortgage is more than just a formality—it’s an opportunity to optimize your finances and find a solution that works best for you. With these tips and professional guidance from our team, you can make your renewal a step forward in achieving your financial goals.
