According to a survey by a leading Canadian bank, two thirds of the homeowners stick with the same lender when it comes to renewing their mortgage. However, this may not be the best option for everyone. The bank sends you a mortgage renewal notice by mail two or three months before your term is up with their own promotional rate which is much higher than the rate offered by other lenders. Homeowners who renew their mortgage without doing their due diligence may lose up to 1 – 2% in the mortgage rate. That’s why it’s important to do your research and compare rates from different lenders before renewing your mortgage. You don’t have to renew your mortgage with the same lender. You can move your mortgage to another lender if their conditions better suit your needs.

At Sanchet, we can help you find the right mortgage product that suits your needs and budget. We offer private finance options for home loans and can provide customized mortgage solutions to meet your financial needs. A meeting with our team could help you save thousands of dollars. Contact us today to book an initial consultation .