Mortgage Renewal

Your bank wants you to sign the renewal slip. I want you to read it first.

Every year, hundreds of thousands of Canadians auto-renew their mortgage without shopping the market. Their bank sends a letter, they sign it, and they leave thousands of dollars on the table over the next five years. Your renewal is one of the most important financial decisions you will make. Treat it like one.

Most people accept whatever their bank offers. I find out if you can do better.

When your mortgage comes up for renewal, your lender is counting on inertia. They send you an offer,

it looks reasonable, and signing feels like the path of least resistance.


But reasonable is not the same as the best available. And over a five-year term, even a small difference in rate or terms adds up to real money.

I review renewal offers for my clients every day. In most cases, I find something better, a lower rate, more prepayment flexibility, better portability, or a lender that fits where your life is heading next. And if your current lender truly has the best offer? I will tell you that too.

I review your offer

I look at what your lender is offering — rate, term, prepayment privileges, portability — and tell you exactly what it means for your finances over the next five years.

I shop the full market

You've built a life in your home and leaving isn't the plan. But costs are rising, income is fixed, and you want more flexibility without uprooting everything.

You decide with confidence

Sometimes the best move is staying with your lender and negotiating better terms. Sometimes it is switching. I give you the honest comparison and let you make the call.

Is Renewal Right For you?

Renewal situations I help with every day

You received your renewal notice and want a second opinion before signing
Your financial situation has changed and you want to reassess your mortgage structure
You want to switch lenders at renewal to take advantage of better terms
You are considering moving to a shorter or longer term based on where rates are heading
You want to take equity out at renewal for renovations, debt consolidation, or a major purchase
You want to lock in a rate early before your renewal date arrives
You have a co-borrower you need to add or remove at renewal
LET'S REVIEW YOUR RENEWAL

Common questions

Renewal questions I hear all the time

Don't see your question here? Book a free consultation and I will answer it directly.

  • When should I start thinking about my mortgage renewal?

    Ideally, six months before your renewal date. Many lenders allow you to lock in a rate 90 to 120 days in advance, which protects you if rates rise before your term ends. Waiting until the last minute limits your options significantly. Call me as soon as you receive your first renewal notice — even if the date feels far away.

  • Can I switch lenders at renewal without paying a penalty?

    Yes. Switching lenders at the end of your mortgage term does not typically trigger a prepayment penalty. This is the best possible time to shop for better terms. There may be administrative costs — legal fees, appraisal fees — but these are often covered by the new lender as part of a competitive offer. I will advise you on exactly what to expect before you commit to anything.

  • What is the difference between renewing and refinancing a mortgage in Canada?

    Renewal means continuing your mortgage at the end of your term — same balance, potentially new rate and lender. Refinancing means changing the structure of your mortgage before the term ends — accessing equity, consolidating debt, or changing your amortization. Renewal is the natural transition point with no penalty. Refinancing mid-term typically involves a prepayment penalty. I can walk you through which path makes sense for your situation.

  • Should I take a fixed or variable rate at renewal in 2026?


    It depends on your cash flow, your risk tolerance, and how long you plan to stay in the home. With the Bank of Canada rate cycle stabilizing in 2026, many of my clients are choosing shorter fixed terms — two or three years — to retain flexibility at the next renewal. I will model both scenarios with real numbers so you can make a confident decision, not a guess.

  • Can Sabeena Bubber review my renewal offer for free?

    Yes. Send me your renewal notice and I will review it at no charge and no obligation. If I can find you a better option, I will show you exactly what it looks like. If your lender's offer is competitive, I will tell you that too. Either way, you will know where you stand before you sign anything.

Still have a question?

CONTACT

Don't sign your renewal until you call me.

It takes 15 minutes and could save you thousands.

Bring me your renewal offer. I will review it, compare it to the full market, and give you a straight answer for free.