When your mortgage term is coming to an end, most of the banks in Canada will send you a renewal notice by mail hoping your busy schedule or comfortable relationship with them means you will just sign the papers and return them, locking you in for another 5 years. They never took the time to go through your financial situation to see if you might be able to lower your amortization period and pay your mortgage off sooner. They likely offered you their current 5 year term posted rate with little or no discount, even though you have been a good customer to them for 5 years or more. More importantly, they are hoping you don’t bother to look around for a new mortgage that might offer you something better.
Nearly three quarters of Canadians will sign the banks renewal without doing any research to see what the competition has to offer. Why pay the bank posted rate, when we at Canada East Mortgages are here to help you take advantage of the competitive mortgage market with expertise and resources.
A mortgage renewal can provide you with the opportunity to
- Lower your monthly payments
- Pay your mortgage off sooner
- Take advantage of the best rates available
- Consolidate debt into your mortgage
We work for you, not the lender. With a customized solution to your mortgage renewal, moving your mortgage to a different lender can potentially save you thousands of dollars and help you be mortgage free sooner.
Contact one of our Mortgage Agents today for a no obligation, no cost evaluation.