Banks knows mortgage renewal/refinance is a time consuming process and that many of their customers have no time nor the interest to follow mortgage rates closely. Many homeowners stay with their existing mortgage lender because they believe it is too time consuming to shop around for a better mortgage solution. Or, they may think the offer from their existing bank is the best option available on the market. This is not the case.
At the renewal / refinancing process time, you can renegotiate everything pertaining to your mortgage - amortization, rate, term etc. with no penalties to you. Your lender will be interested in seeing you come back, but it's important to investigate your options and make sure you are getting the best possible deal.
At Broadmore Mortgage we know that every homeowner is different, hence we provide our customers with individual professional advice, because you deserved it. At Broadmore we look at every case individually so you can take advantage of the best renewal or refinancing option available on the market, and the one which suits your particular situation.
While renewing or refinancing we need to evaluate the whole scope of you financial situation and go through the process with eyes open to better your financial position down the road.