Mortgage Renewals
Don't Just Renew—Negotiate for a Better Financial Future
The "Renewal Trap" Did you know that nearly 60% of Canadians simply sign the renewal form their bank sends them in the mail? By doing this, you are accepting the bank’s "posted rate," which is rarely the most competitive. At Mihir Patel Mortgages, we treat your renewal like a new beginning, shopping your mortgage across our entire network to find a product that fits your life today, not five years ago.
What We Analyze for You:
The Strategic Renewal Center
1
The Fine Print
We look at prepayment privileges and portability. If you plan to move or pay down your mortgage early, the "cheapest" rate might actually be the most expensive due to penalties.
2
Term Selection
Should you stick with a 5-year fixed, or is a shorter 2 or 3-year term better for the current Toronto market? We provide the data so you can decide.
2
Lender Competition:
We make the "Big 5" banks compete for your business against specialized B-lenders and Credit Unions.