Your lender’s mortgage renewal offer has arrived—tempting you to sign and avoid the hassle of shopping around. But before you pick up that pen, let me stop you right there. I want to ensure you’re not leaving money on the table by simply accepting their first offer. Here’s why it’s worth consulting with me before making a decision.
Lenders Rely on Your Complacency
When it’s time for renewal, many lenders count on homeowners taking the path of least resistance. That’s why renewal offers are often less competitive than the rates they offer to new clients. Signing your lender’s offer could mean locking into a rate that’s higher than what you qualify for elsewhere.
The Value of a Mortgage Broker at Renewal
As your mortgage broker, I have access to a wide range of lenders, not just your current one. This allows me to:
Compare rates and terms across multiple financial institutions.
Negotiate on your behalf to secure a more competitive deal.
Evaluate whether switching lenders makes financial sense for you.
Rates Are Just One Piece of the Puzzle
Renewal is an opportunity to reassess your entire mortgage strategy. Is your current mortgage type (fixed vs. variable) still the best fit? Would a shorter or longer term suit your needs better? Do you need additional flexibility, such as the ability to make larger prepayments?
Renewal time is your chance to secure the best terms for your future. Don’t just sign—let’s talk first. Together, we’ll make sure your next mortgage works for you, not the other way around.
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