renewing your mortgage
Renewal made easier than ever before…
When should you start considering your options for a mortgage renewal? Often times, your mortgage renewal statement will be received in the mail with nearly no time to spare. This makes it extra difficult to shop around for better, more flexible and competitive products for you. This means we must mark our renewal date in a calendar - and make sure you start shopping around at least 3 months prior to your renewal date.
Simply signing and sending back your renewal document seems easy and painless, but is it really what’s best? As your financial situation changes, so should your mortgage. The renewal on your mortgage is the only time you’re able to make changes to your mortgage without a significant cost. So, let’s make the most of it.
What should you know?
Let’s talk about what to consider…
As your life circumstances change, so should your mortgage. Ask yourself the following:
Has my income changed?
Have my expenses increased or decreased?
Is there a possibility I might be moving in the next few years?
How do the interest rates look right now in comparison to when I got my original mortgage?
Have I had a change in marital status or a significant life event happen?
Is there a need for a greater cash flow?
Do I want to build my investment portfolio?
Is there a need for home improvements?
Do I need more flexibility with my mortgage?
Is your mortgage coming up for renewal?
Tell Nikki in the contact section below when your mortgage is up for renewal, and she’ll do the hard work by setting a follow up in her calendar to reach out closer to the date. Renewal made easier than ever before…