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Switch - Renewals

Everything you need to know below


When you get close to your renewal date and come to the fork in the road let a CENTUM mortgage broker help guide you down the trail of renewal or switching lenders. The switch/renewing your mortgage process is made easy. A renewal/switch is usually straight forward, but should be well thought out. There is lots to consider including the time frame of owning the real estate, any plans to modify the property and of course reviewing all your options. Choosing the right term and payment is crucial so it is suited to your current financial plan along with your future goals. At CENTUM, we want to make your mortgage fit your lifestyle and still be flexible if anything is to change.

Choosing Another Lender

About six months out from your mortgage renewal your current lender will send you a renewal notice.  As easy as it would be just to sign that notice and continue with the conditions, it’s important to ensure that you are getting the best rate and mortgage.  Let us do a quick review to make sure you are exactly where you should be.


Your renewal date is a fresh start and if there’s another lender that’s able to provide something that better suits your needs for the next term, we’ll find it. There is an assumption that you should just renew, but take the time to review all your options.


Contact us to review your mortgage renewal!


There’s no better time to negotiate than when a lender is hoping to keep you as a client for another term. Upon renewal, your mortgage lender may reach out and offer you a variety of options. We can help negotiate the renewal terms if you don’t have the time or comfort level for it.  


Bottom line, we’re here for any mortgage renewal advice.  We’re always looking out for your best interest.

Renewing Early

Rates can be volatile in nature.  Fortunately, if rates are about to rise the media loves to speculate on what is going to happen giving us all a little warning.  Even if those warnings don’t cross your path, we are here to check in and evaluate your current mortgage.


Depending on the type of mortgage you have, you may incur a penalty if you decide to break your mortgage early.  In some cases when rates are about to go up, it can make sense to break the mortgage terms and secure the current rate.  It is our job to crunch the numbers, find you the right mortgage and make sure it’s financially worth it.


Don’t take risks with your most valuable asset. At CENTUM, we are here to help.

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