Is your mortgage up for renewal? Did you know that Banks don’t offer the best rates available on a mortgage renewal?
Banks make a lot of their profits on mortgage renewals. They do this by not offering their clients’ the best mortgage rates
and delaying renewal letters until about 30 days before the mortgage renewal date. They want you to panic and sign the mortgage renewal, costing you thousands of dollars in interest charges.
Your lender is required to send you a renewal notice at least 21 days before the end of your current term but it’s important to start shopping about three months before that.
Since it’s more than likely you are not in the exact same financial situation you were in five or ten years ago, your residential mortgage solution shouldn’t stay the same either. Maybe you’ve just received a raise and are in a position to make higher payments. Or interest rates have changed. Or perhaps you’re simply curious. Whatever your reason, when mortgage renewal time comes around definitely take the time to compare your current lender’s offer with others.
If you have a mortgage renewal coming up, ASHTON MORTGAGE SOLUTIONS can access more competitive mortgage rates, saving you thousands over the life of your mortgage.
You CAN change lenders, and renewal time is the perfect time to do it. Provided there are no major complications with your mortgage, if you renew with a new lender they will generally process the application and take on any fees that may be applied.
We can lock rates in for you up to 120 days before your mortgage renewal date. If rates go up you’re protected; if they go down you get the lowest rate available. We also make sure there are no costs to you for switching your mortgage to a different lender.
Signing on the dotted line come renewal could cost you thousands of dollars in interest - isn't it worth a second opinion?