Is there a penalty to switch lenders at renewal?

No - at the end of your term you can move lenders without a prepayment penalty. There may be small discharge or transfer fees, which a new lender often covers.

Will I need to re-qualify?

Switching to a new lender generally requires a fresh application and may involve the stress test. Staying with your current lender to renew typically does not. We'll advise on the trade-offs.

Renew / switch

Don't just auto-renew - optimize

Most Canadians accept their lender's first renewal offer and leave money on the table. We compare the whole market and help you switch - often at no cost to you.

Compare my renewal

The opportunity

Your renewal is your best chance to save

At renewal you can change lenders with no prepayment penalty. That's the moment to shop your rate, restructure your mortgage, and lock in better terms.

Switching at renewal avoids prepayment penalties
We compare your offer against dozens of lenders
Restructure amortization, payment frequency, or rate type
We handle the transfer paperwork for you

Start your renewal review

120

Days before renewal to start

Two paths

Renew or switch?

Renew with better terms

Stay with a great lender but negotiate the rate and structure you actually deserve.

Transfer to us

Move your mortgage at renewal to a more competitive rate - we manage the switch.

FAQ

Renewal questions

Begin shopping about 120 days before your maturity date. Many lenders let you lock a new rate early, protecting you if rates rise before renewal.

Coming up for renewal?

Let's make sure your next term is your best one.

Review my options Talk to an advisor