With 47% of mortgage up for renewal in 2018, many Canadians may not know about the true cost of renewing their mortgage with their current financial institution. The beginning of 2018 has brought in a new set of rules making refinancing, and renewing even more complicated than ever before.
Many Canadians will renew their mortgage with their current financial institution without shopping around for the best mortgage solution, and often times blindly renewing your mortgage could lead to you paying 0.3% MORE than the current going mortgage rate. 0.3% may not seem like much, but over a 5 year period, this can really add up to hundreds if not thousands of dollars.
Working with myself allows me to pull your credit bureau one time while I shop around for you to offer you the best renewal rate, and overall product saving you time and money so you can enjoy doing the things you love. Don’t worry, my services are free as I get paid by the lender.
If we get paid by the lenders, it only makes sense to switch you so that we get paid, right? Although it may seem that mortgage brokers will want to switch you on renewal, I don’t see any benefit in switching your mortgage elsewhere if I’m not saving you money, and getting you a better product. I’ll discuss the different options that are available to you and allow you to make an informed decision on what is best for you.
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