Mortgage Renewal Checklist:

Mortgage Renewal Checklist:

In a “year of mortgage renewals”, it is important to know and understand that you are becoming a “free agent”. Mortgage term maturity is a great opportunity where you are able to re-evaluate your debt, financial position, current + future, wants & needs.

Here’s what to check before you commit:

✔ Start early (4–12 months)

Don’t wait for your bank’s renewal letter — that’s rarely the best option.

✔ Re-evaluate your needs

Life changes. Payments + Amortization should match today, not 3-5 years ago.

✔ Compare more than rates

Penalty structure • Prepayments • Portability • Term length • Fixed vs Variable

✔ Review debt strategy

Renewal is the best time to restructure, consolidate, and/or improve cashflow.

✔ Stress test matters if switching

But switching often saves more than it costs.

Why working with a broker matters:

Banks only show you one offer.
I shop multiple banks & lenders, negotiate terms, and structure the mortgage to fit your goals, not the bank’s margins. Many clients save thousands of dollars and better their cash flow at renewal, just by not auto-renewing.

Bottom line:

Don’t auto-renew your mortgage. Explore options. Make the renewal work for you.