Your mortgage matures at the end of its term, and you renew it for another. Most Canadians sign the renewal letter their lender posts them, and most of them leave money on the table doing it, the first offer a lender makes at renewal is rarely the best rate that lender will give you.
The brokers listed here handle mortgage renewals across Canada. A renewal is the one moment in the life of a mortgage when switching costs you almost nothing, which is exactly why it is worth shopping.
The brokers below have told us they take on mortgage renewal files. Narrow by city to see who works in your market, most lending decisions still turn on where the property sits.
8 of these brokers have a mapped office. Tap a pin to open that profile.
I'm Sadiq Boodoo, B.B.A., Principal Broker and CEO of Approved Financial Services. I have what it takes to make a difference in your next mortgage transaction. With access to 80+ of Canada's…
Whether you are a first-time buyer or an experienced buyer with excellent credit, Dominion Lending Centres has access to the very best products and rates available across Canada. Give us a…
As a Mortgage Broker with The Mortgage Centre, I deliver customized financing solutions through an extensive network of lenders, ensuring competitive options tailored to each client's needs.…
I help homeowners, homebuyers, self-employed individuals and investors find mortgage solutions across Ontario. I specialize in business-for-self financing, refinancing, investment properties…
Micky Khaneka is a licensed mortgage broker and founder of MKG Mortgages in North York, ranked #15 on CMP's Top 75 Mortgage Brokers in Canada 2026. MKG helps GTA buyers, homeowners and self-…
Rachel Rogerson is a trusted mortgage broker with 16 years of experience helping Canadians find the right mortgage solutions. Based in Burnaby, BC, Rachel specializes in home purchases, refi…
Rita Cousins is an experienced mortgage broker with mortgage architects, bringing over 45 years of experience in the mortgage industry. Based in Nanaimo, BC, Rita helps clients with home pur…
With over 13 years of experience in financial services, I help homebuyers, homeowners, and self-employed professionals navigate mortgage financing with confidence. Specializing in residentia…
I am a dedicated mortgage professional who believes getting s mortgage should feel exciting not overwhelming. As a mortgage broker I work with a wide range of lenders to help find mortgage s…
# Begonia Celorio – Mortgage Agent Level 2 | Caledon & GTA ### Award-Winning Mortgage Agent Helping You Find the Right Mortgage for Your Goals Buying a home, renewing your mortgage or figu…
Let's get you a better mortgage that is customized for your financial needs. We specialize in using mortgage for more purchasing power and to build your future wealth for retirement. There a…
I’m a licensed mortgage broker serving clients across British Columbia, Alberta and Ontario, with a large part of my business coming from the Lower Mainland, Vancouver Island, the Okanagan,…
Most lenders will let you renew in the final months before maturity without a penalty, and will send a renewal offer some weeks ahead of the date. Renewing earlier than that window is possible but is treated as breaking the mortgage, which means a prepayment penalty.
The practical move is to start comparing roughly four months out. That is long enough to hold a rate while you decide, and long enough to complete a switch to another lender before your current term ends.
At maturity you can move the mortgage to a different lender without paying a prepayment penalty, because the term has ended rather than been broken. The new lender takes on the same balance; you are not borrowing more, so this is a switch or transfer rather than a refinance.
Switching is not free of friction, there is paperwork, and the new lender may charge or absorb the discharge and registration costs, but the amounts are small next to a rate difference held over a full term. Ask who is covering them; many lenders cover the switch to win the file.
Staying put has one genuine advantage worth weighing: renewing with your existing lender is the simplest path, and if your circumstances have changed for the worse since you last qualified, it may be the path with the fewest questions.
The posted renewal rate is an opening position. What moves it is competition, a written offer from another lender is the single most effective thing you can put in front of your current one, and a broker collecting several is faster than doing it yourself.
Beyond the rate, the term length and the prepayment terms matter more than most people expect. A slightly higher rate on a mortgage that lets you prepay generously, or that carries a fairer penalty calculation, can cost less over five years than the headline winner.
Most lenders allow renewal in the final months before maturity with no penalty, and send an offer some weeks ahead of the date. Renewing before that window is treated as breaking the mortgage and triggers a prepayment penalty, so the usual advice is to start comparing about four months out.
The lender will normally roll the mortgage onto a renewal, often at a posted rate rather than a discounted one, and sometimes onto a short or open term at a considerably higher rate. Doing nothing is the most expensive option available at renewal, and it is the one most borrowers take.
Yes. Once the term has ended there is no prepayment penalty, because the mortgage has matured rather than been broken. You are transferring the same balance, not borrowing more. There may be discharge and registration costs, and the new lender will often cover them.
Renewing with your existing lender for the same balance does not normally require requalifying. Moving to a new lender is a new application, so the new lender will assess income and credit. This is the main reason a borrower whose circumstances have worsened may choose to stay.
It can be, but consolidating means increasing the mortgage balance, which makes it a refinance rather than a straight renewal. That is a different application with its own loan-to-value limits. The advantage of doing it at maturity is that you avoid the prepayment penalty you would pay mid-term.
