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Time to Renew Your Mortgage?
Let's Get You the Best Deal
Your lender's renewal offer may not be your best option.
A mortgage review could save you thousands.
Renewing your mortgage is a great time to pause and check in on your financial goals. It's your chance to make sure your mortgage still fits your life — and to explore whether there might be better options out there.
Many people simply sign their lender’s renewal offer without thinking twice, but that offer isn’t always the best one available. Taking a moment now could lead to real savings and more flexibility down the road.
Benefits of reviewing your mortgage
No penalty switch to a lender that better fits your needs
Change your mortgage term (shorter or longer)
Switch from fixed to variable (or vice versa)
Pay off your mortgage faster
Access to better rates
Gain more flexibility
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Why Choose RefinanceBC Over a Bank?
Renewing your mortgage is a big financial decision — and you don’t have to make it alone. Working with RefinanceBC means you get access to more options, expert guidance, and someone who’s focused on your best interest, not the lender’s.
It’s about making sure you get the right mortgage for you, not just the one that’s easiest to renew.
Access multiple lenders, not just one
Negotiate the best rates and terms on your behalf
No cost to you (the lender usually pays the broker’s fee)
Personalized advice based on your goals, not the lender’s bottom line
What You Get
Working With Us
Common Questions about Mortgage Renewal
We know that mortgage renewals can bring up a lot of questions — and you're not alone.
We've answered some of the most common concerns homeowners have so you can move forward with confidence.
Can I switch lenders at renewal without penalty?
Yes - if your mortgage term is ending, you can switch to a new lender without penalty and possibly secure better rates or terms.
How early can I renew my mortgage?
You can start the renewal process within 120 days of your term ending.
Will renewing affect my credit score?
Your lender may auto-renew at a higher rate — You can still make changes, but you'll need to act quickly to avoid unnecessary costs.
Do I need to requalify when I renew my mortgage?
What if my financial situation has changed?
What if I missed my mortgage renewal date?
Not necessarily, if you're staying with your current lender and not changing the terms. If you're switching lenders, a new application may be required.
If your circumstances have shifted, we'll work together to find a renewal solution that fits.
Just renewing your mortgage typically does not affect your credit score.
Refinancing or Renewing
Which Is Right for You?
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Usually done at the end of your current term
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Keeps the same mortgage amount
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Often stays with your current lender
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Minimal paperwork, no requalification required
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Opportunity to renegotiate rate and term
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Can be done anytime (not just at term-end)
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Lets you borrow more (access home equity)
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Allows you to consolidate debt or fund major expenses
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Usually requires requalification
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May include penalties if done mid-term