Discover the lowest rate and the best terms with a mortgage matched to you.
120 days before your mortgage is set to renew you can start the process. We will send you a renewal reminder 150 days before your renewal date, so you're well prepared. It’s not hard to switch lenders, and while we can make it even easier, time crunches are never fun. With more time, we can shop around, negotiate, and secure a mortgage matched perfectly to you.
We know it’s no fun sitting on a wad of cash when you want to pay your mortgage down! Renewal time is a great opportunity to pay as much as you want without any of these pesky fees. During your term you can prepay your mortgage but only within limits. When you exceed the limit there will be a penalty, the amount will vary depending on your terms. This is why we keep telling our clients- terms trump low rates! We promise to ensure you understand your mortgage and all of the terms before you sign on the dotted line.
While we admire your loyalty, we also want you to get the best mortgage possible. Renewal time provides an opportunity to look around for a better mortgage product. Most people think their banks are giving them the best option, or they believe that switching lenders is a huge hassle (it’s not!). Don’t settle for less than the best. Chances are that there is a better mortgage product available for you. If you’re open to change, and want honest advice, give us a call and we’ll treat you right.
Switching lenders is a straightforward and simple process when you have an experienced broker to lead the way. We can help you attain a better mortgage at renewal time. We start by getting to know you and your plans for the future. This allows us to narrow down the search for a mortgage that's right for you. Once we find a product you like, we will gather your documentation and a current assessment of your property value to submit your application. Before you know it, you’ll have a new mortgage that saves you money with terms that give you room to grow.
Need some extra cash? Hoping to avoid fees? Renewal time is an ideal opportunity to refinance your mortgage because you won’t be dinged with any penalties. We can help you restructure your mortgage with a product that provides the flexibility you need to reach your goals.
Mortgage terms can make or break your future plans, so pay attention! Is your mortgage restricted, are there atypical penalties, peculiar cash back clauses, claw backs, unique charge requirements, limited features, no flexibility, blending or porting rules, or pre-payment restrictions? All of this fine print can become a big deal in the future and as your broker, we take it on as our responsibility that you are crystal clear on what you are committing to. We’ll make sure you're ready for a hassle-free renewal.
Are you wondering if you should renew with a fixed or variable rate? In normal, healthy markets, variable rates are lower than fixed. In a nutshell, variable rates will fluctuate but are inexpensive to break, while switching out of a fixed rate can be very expensive. Conversely, fixed rates provide peace of mind because you know your monthly payments ahead of time. Your best choice depends on your goals, borrowing profile, and current economic circumstances. Give us a call and we’ll advise you on the best mortgage product for your life.
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“We left our mortgage renewal a bit late, which had me worried at first. Once I contacted Spin Mortgage, Steve put my mind at ease and guided us easily through all the steps to select a new mortgage and get it set up on time.”
“We’ve now used Spin Mortgage for 2 house purchases and a re-mortgage and they did a fantastic job! I would 100% recommend reaching out to them. Great rates, knowledgeable and quick turnaround times!”
“Ryan and Jeff at Spin are great. Consistently provide great service and find very good rates. Whether it's your first mortgage or a renewal, Spin makes the process easy and straightforward. Thanks to everyone at Spin.”
“Highly recommended. Totally professional and genuine. It came down to me renewing with a major bank or going through Ryan at Spin. The bank took forever, wasn't clear and didn't mention fees. Ryan's group were totally transparent and were happy for me to get the best deal.”
“I purchased my first house in 2005, and it was all a mystery to me. Steve was recommended as a mortgage broker I could work with, and he has been my go-to professional ever since. He has shepherded me through 3 renewals and has moved mountains on my behalf.”
“Steve was highly recommended to us by our realtor in 2003 when we bought our first house. Over the years he has taken very good care of us, providing excellent service and expertise, always negotiating the best rates for our mortgage renewals.”
“While shopping around for rates when my mortgage came for renewal, I was referred to Spin. Although they were able to offer better rates than what I was quoted, they advised that I renew through the bank. To see such transparency and putting clients interest ahead of ones own and enforcing it, was refreshing. ”
“The team at Spin Mortgage is knowledgeable, responsive and has always made us feel well taken care of. From our first home, to transferring over our mortgage to a renewal, they've helped to guide us through the fine print. Great rates, great customer service and a seamless process!”
“This is our second mortgage with Ryan and the Spin team. We will be coming back if we need any more mortgage advice. Ryan and the Spin team has been consistently excellent.”
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