Renew your Mortgage
Renewing your mortgage couldn’t be simpler: a signature is all it takes. No additional documents, no visit to the notary or lawyer. It’s just that easy!
Questions to ask yourself
As your renewal date approaches, it is the perfect time to review your financial situation and discuss any possible adjustments with your advisor.
How do you feel about your mortgage payments? Are they too high? Could you afford to pay more?
Would you like to have more cash on hand? Would you like to pay for your children’s education, renovate your home or make a sizeable purchase? When you refinance, you can use the equity in your home to finance new projects.
Depending on your financial situation, you can switch from a fixed to a variable rate, or vice versa.
When would you like to pay off your mortgage? Depending on your situation, you could choose to pay your mortgage down faster.
Early repayment amount
Mortgage renewal is a great time to make a lump-sum payment towards your outstanding capital without penalty or contractual limitation with regards to the amount paid.
This way, you repay your mortgage faster. It is an attractive option if, for example, you plan to retire soon or would like to pay off your mortgage sooner so as to invest in another project.
Read your new mortgage conditions closely
Some borrowing conditions may change before your renewal.
While we keep you up-to-date regarding changes as they arise, please note that all changes will be outlined in the renewal agreement that you will receive. It is very important to take note of any changes before signing your renewal.