Renewals & Transfers
When a mortgage term is ending, most of the big banks in Canada will send a renewal notice by mail usually one or two months prior to expiration. At this time, the banks tend to take advantage of our busy schedules by making it easy to sign on with them for another term.
However, they do not take the time to go through your current financials to see if shortening your amortization might be beneficial, for example. The worst part is that banks tend to offer you their posted rate with very little or no discount on these easy-to-sign renewal forms.
Nearly three quarters of Canadians sign this renewal without researching what the competition has to offer. We, at The Guardian are here to offer you the free expertise and resources so you can take advantage of the competitive mortgage market.