Can a mortgage broker help when my mortgage comes up for renewal? 

Absolutely! A mortgage broker like myself can start shopping around for the best interest rates at least 90 days before your mortgage matures. In this timeframe, lenders will often guarantee you a certain rate and, if you’re not increasing your mortgage, will cover the costs of transferring it to a different institution. This means I can help you secure a rate well in advance of your maturity date, eliminating any worry of it increasing. And if rates drop before the actual maturity rate, the new lender will usually adjust your interest rate lower as well. When lenders send out their mortgage renewal notices, the rates being offered are typically not the best ones on the market. It is to your benefit to work with a mortgage professional to shop for lower interest rates, whether it’s with your current lender or a new one. If you don’t, you risk paying a much higher interest rate on your mortgage renewal than necessary.