Roughly 60% of all outstanding Canadian mortgages — about 1.2 million loans — renew across 2025 and 2026, and most borrowers are renewing into higher payments than they signed at. The most expensive mistake is the easiest one: signing the first renewal offer your lender mails you.
Independent advice across BC & Alberta — we shop multiple lenders so your situation finds the right fit.
Your lender knows convenience wins, so the renewal letter is an offer — not a ceiling, and rarely the sharpest rate available to keep or win your business. A few minutes of comparison can be worth thousands over your next term.
Most lenders let you lock a rate or arrange a switch up to roughly 120 days before maturity. Starting early lets you hold a rate against rising markets and move without rushing.
Recent rule changes mean many borrowers can now switch lenders at renewal on a straight switch without re-passing the mortgage stress test — removing a major barrier to shopping. It’s worth confirming whether your situation qualifies.
Planning ahead? Grab the 2026 Renewal Playbook, or if your payment is climbing, look at consolidating debt at the same time.
Compare your lender’s negotiated offer against the market. With payments rising this cycle, switching or refinancing often beats accepting the mailed renewal — a broker shops it for you.
About 120 days before maturity. That lets you lock a rate and arrange any switch without a gap or penalty at maturity.
No prepayment penalty when you switch at maturity. There can be small legal/appraisal costs, which a new lender will often cover.
Recent changes let many borrowers switch at renewal on a straight switch without re-passing the stress test. We’ll confirm whether that applies to you.
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