Failing to explore your options at mortgage renewal time could cost you thousands. Nearly 60% of Canadian homeowners automatically accept the first renewal offer from their lender, without negotiating or comparing rates, leaving significant savings on the table.

You should never accept your lender’s first offer without doing your homework. Signing a renewal at the posted rate, without negotiating, often results in paying far more interest than necessary.

Ideally, start exploring your renewal options four to six months before your current mortgage term ends. Lenders often send out renewal notices just weeks before the term expires, which doesn’t leave much time to compare alternatives. That’s why it’s important to track your mortgage timeline—and be proactive.

Before your lender even contacts you, reach out to a licensed mortgage professional at RTC Mortgage. We’ll shop around on your behalf and negotiate the best possible rate—often better than what’s initially offered.

Your mortgage is one of your largest financial commitments. Take control of your renewal and let RTC Mortgage help ensure that lenders compete for your business. Don’t be part of the 60% who simply sign and return their renewal letter—save money by being informed and strategic.