Switching costs nothing at renewal
Break your mortgage mid-term and there is a penalty. At renewal there is not. That window is the whole reason to compare, and most people never use it.
Miriam’s Mortgages
Renewal letter in hand?
Before you sign that renewal, see what else is on the table.
Your lender sends you one offer. I compare it against what other lenders would actually give you, so you know whether signing is the right move or just the easiest one. It costs nothing to find out.
You'll be speaking with Miriam Thanks, you're all set. Miriam’s Mortgages gets back to you directly to set things up.
Prefer to talk? Call 647-274-9680.
5.0★ from 74 reviews Evening and Sunday calls · Mortgage Agent Level 2 · Mortgage Outlet Brokerage · No cost to talk, no obligation
Ontario-licensed · License# M1900073
Miriam compares options across a range of lenders through Mortgage Outlet Brokerage, at no cost to talk and no obligation to proceed.
Serving North York, Toronto, Vaughan, Brampton and Innisfil.
Most people sign the first offer they are sent
Your lender is counting on that. Here is what changes when you look around first.
The rate is not the only term
Amortization, prepayment privileges and how the penalty is calculated all reset at renewal. A slightly lower rate on worse terms can cost you more over the term.
Start about four months out
That is long enough to compare properly and hold a rate while you decide. Leave it to the last week and signing what you were sent becomes the only realistic option.
What we offer
- Mortgage pre-approval
- First-time buyers
- Mortgage renewals
- Refinancing and equity takeouts
- Debt consolidation
- Self-employed and new to Canada
Google review 5.0 from 74 reviews
“Miriam and her team were professional and efficient and went above and beyond to deliver the service they offered. Miriam stayed in constant communication with me, keeping me up to date with the happenings prior to closing. We met several times to discuss options and to provide me with the best rate and package for my needs. I highly recommend Miriam and her team, and would work with them again.”
Frequently asked questions
Does switching lenders at renewal cost me anything?
At renewal there is no prepayment penalty for moving. A new lender may require an appraisal or legal work, and some cover those costs themselves. I will tell you which applies before you commit to anything.
How early should I start?
About four months before your maturity date. Many lenders will hold a rate for you during that window, so starting early can only help you.
What if my current lender matches the offer?
That happens, and it is a good outcome. Having a real comparison in hand is what gets you the match in the first place.
Request a callback
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