Mortgage renewal in Ontario: compare your offer before you sign
Signing your lender's renewal letter without comparing can mean paying more than you need to. Moving to a new lender can bring a lower rate or better features, and straight switches between federally regulated lenders no longer require passing the stress test, which makes comparing easier than ever.
Why compare before you renew?
Possible loyalty gap
Lenders sometimes offer better rates to new customers than to existing borrowers at renewal, so comparing matters.
No stress test on straight switches
Federal rules let you switch lenders at renewal without re-qualifying under the stress test, as long as your loan amount and amortization stay the same.
Starting early
Reviewing your options 90 days before maturity lets us hold a rate, compare 55+ lenders and give your current lender a reason to offer its best terms.
Run your numbers
Compare your lender’s renewal offer with other options before you sign.
How does the switch process work?
90-day review
We look at your current renewal offer and benchmark it against the wider mortgage market.
Option comparison
We weigh the rate savings against any transfer fees. Many new lenders cover standard legal and appraisal costs.
Seamless transfer
We handle the paperwork and move your mortgage on your renewal date without disrupting your monthly cash flow.
Questions, answered
Will switching lenders cost me money at renewal?
In many straight switches, the new lender covers the standard appraisal and legal transfer fees. We outline all costs upfront so you see your exact net savings.
When should I start looking at options for my upcoming renewal?
Start reviewing options 90 days before your term matures. On a renewal, that is how long a lender can hold a rate, so we can lock one in and watch the market right up to your renewal date.
Related
Rules and figures current as of October 2026.