Many people wait till the last moment before they start looking into their mortgage renewal situation. Then they end up making a hasty, non-informed and many a times, wrong decision. A decision that is going to effect each of their mortgage payment and the bottom line till the mortgage is paid off. This is a very common situation that we see almost every week.
You can lock in a mortgage rate for 6 months. That means, you can start shopping for a new mortgage before the current one expires, six months ahead of time. That gives you sufficient time to weigh and assess many options that might be available to you. Instead of jumping on a wrong bus, this period will allow you to adopt the best possible option for you and you can take that with peace of mind.
Here are some points to look into before you should renew your current mortgage.
- Is it best to stick to the current lender?
- If yes, why?
- What are other lenders offering?
- What are current mortgage trends?
- Have any laws changed?
- Get some testimonials from friends and colleagues
- Has your affordability changed?
- Are there any changes in your lifestyle?
Years of experience helps us present many scenarios before our customers. That enables them to think, process and act wisely. Contact us if you are arriving near the renewal of your mortgage.