Do you want to extend your mortgage? Would you like to negotiate new terms? Mortgage renewal is the perfect opportunity.
When your mortgage agreement matures, you can pay it off in full or decide to renew it (as is or with new terms). This is called a mortgage renewal.
On one hand, a mortgage renewal involves extending an existing mortgage by setting a new term and possibly modifying its conditions.
On the other hand, mortgage refinancing involves taking out a new mortgage by combining several credits into a single monthly payment through the mortgage of a property.
When you receive your mortgage renewal notice from your lender, you can renew your contract without modifying it or negotiate adjustments:
When you renew your mortgage, you can also transfer your mortgage to another institution.
Finally, the maturity of a mortgage agreement is also an opportunity to refinance a mortgage.
By analyzing your situation and your specific needs, your Multi-Prêts Hypothèques broker can make you the best possible offer to save you money on your mortgage renewal, whether or not you opt for refinancing.