You’re in the driver’s seat! With your track record as a homeowner and proven ability to make your mortgage payments, lenders will want your business and will compete for it. Understand the options available upon end of term existing mortgages.
With low interest rates and a growing selection of innovative mortgage solutions, you could potentially save thousands by renewing with a new source of lending. That’s where we can help. We’ll connect you with a large network of lenders to find the best interest rate and options for your renewal. After all, a lower rate can save you a lot in costs over the life of your new mortgage.
You’ll be offered a number of loan options, and we’ll help you choose the one that best suits your needs. Over and above considering the lowest rate, we’ll discuss whether a fixed or adjustable rate is better for your situation.
There will be a few fees and costs associated with the renewal process, such as legal and administrative costs for transferring the mortgage, as well as a mortgage discharge fee. These costs can sometimes be absorbed by your new lender, so we’ll keep that in mind as we help put together a renewal package for your consideration.
A second or sometimes a third mortgage can help you gain access to the money you need to finance your home improvement, pay down debt or finance another purchase. With a second mortgage, you’ll be able to borrow a large percentage of your home’s value at a rate that is lower than most credit cards.
You may be considering to refinance your existing mortgage. Today’s low mortgage rates make it an ideal time to refinance your current mortgage and tap into some of your home equity that you’ve built up. Not only will you get access to funds that you may need, but you could save money on interest by taking advantage of current rates.