- Posted by HomeHow
- On November 19, 2018
- 0 Comments
In most cases, your bank usually sends you a mortgage renewal 60-90 days before your current mortgage term is due. Now, what do you do?
Don’t rush to say “yes”
When your bank asks for your mortgage renewal, they won’t spend time listening to your needs. You will not be given a chance to get a mortgage that fulfills your current and future needs.
Signing your mortgage renewal letter only takes 5 seconds, but this 5-seconds can cost you a lot!
Consider your current situation, plan for the future
Don’t just compare mortgage rates
You will find your renewal rates in your renewal offer. The next thing you may do is go online and see if you have a good renewal rate. This is certainly the right thing to do. But please bear in mind not every rate you see online represents the mortgage product that fits your needs!
There are hundred of mortgage products in the marketplace from hundreds of different lenders. It is always beneficial to talk to an accredited mortgage professional who can show you the product that fits you the best, along with the best rate. Therefore, do not hesitate to reach out to us!
See also: How should I plan for my mortgage renewal?