Renewing Your Existing Mortgage...

Just received your mortgage renewal notice? Before you just sign it and return it to your bank, consider this:

Mortgage renewals are one of the most neglected decisions made during the life of a mortgage. Many homeowners stay with their existing mortgage lender because they believe it is too time consuming to shop around for a better rate. Or, they simply think that the offer from their existing bank is the best deal available. Or that it will cost a lot of money to switch to another lender.

Our experience has shown that most banks send out their renewal notices 30 days before your mortgage is set to expire and usually this renewal will be at posted rates or a small discount off posted rates.

Why do they do this? It’s simple. The fact is that each branch acts as a separate profit centre for the lender. They are rewarded and paid based upon the profitability of their overall mortgage portfolio. They know that most homeowners don't want to go through the hassle of shopping around, and possibly having to re-qualify for their mortgage at a different bank. So, they offer you the posted rate and hope that you won’t have the time to compare.

At Global Mortgages we can help make the process of switching your mortgage to another lender as easy as possible and now most lenders offer "no cost or low cost switches" with interest rates that are better than those being offered by your existing bank. If you want to see how much you can save by not accepting the banks' posted rates look at the example below.

Your mortgage is one of the largest on going financial commitments you have. You owe it to yourself to avoid higher rates, avoid unsuitable products and terms, avoid running out of time to find out what the best option for your mortgage renewal.

There is no obligation on your part when dealing with me and there is no cost to you. Don't wait for your banker to remind you! Be proactive and chances are you will save money on your mortgage renewal!

Even if your mortgage doesn't come up for renewal any time soon, there's still a very good reason to speak to an independant mortgage specialist.

As rates and market conditions change, your current mortgage may be costing you more than it should. It's possible that we at Global Mortgages can find another option for you that's so attractive it makes breaking out of your current mortgage cost-effective. But the only way to know for sure is to sit down with me to discuss your current situation and future goals.

Why should you contact Global Mortgage Corp?

We will do a no-cost, no obligation analysis of your situation, needs and goals. Then once we know exactly what's right for you, we'll shop the market and find you the best-available package of rates and features.

For a free analysis call 778-869-8638 or email: scottko@mortgageratesbc.net

A mortgage broker can usually negotiate a discount of between 1 and 1.5% below the banks posted rates. And that can mean big savings for you!

Imagine saving over $108 per month, reducing your mortgage by an additional $2,500 and saving over $9,000 in interest charges in 5 short years!

Here's an example for you to consider with a discount off posted rates of 1.25%:

Call me 778-869-8638 or email me today; scottko@mortgageratesbc.net
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