Services
Switching Lenders
Explore alternatives if your current lender is not the best fit for your next term.
When to consider a switch
At renewal, you are free to move your mortgage to a different lender — often at no cost. A switch can make sense if another lender offers a lower rate, better terms, or features your current lender does not provide (like a home equity line of credit or more flexible prepayment options).
Mid-term switches are also possible, but they may involve prepayment penalties. We break down the numbers so you can see whether the savings outweigh the cost.
- ✓Compare your current rate/terms against available alternatives
- ✓Understand transfer vs. refinance — and which applies to your situation
- ✓Calculate any prepayment penalties if switching mid-term
- ✓Review qualification requirements for the new lender
- ✓Coordinate the transition so there is no gap in your mortgage
What to prepare
Bring what you have — we can work with approximate numbers and fill in the rest once we access your mortgage statement.
- •Current lender name and renewal/maturity date
- •Mortgage balance estimate
- •Current interest rate and term
- •What you want from your next lender (lower rate, better features, HELOC access)
Good to know: At renewal, most lender switches are free. The new lender often covers legal and appraisal costs on a straight transfer.
How the process works
Review
We assess your current mortgage and the renewal offer (if any) from your existing lender.
Compare
We present alternatives from other lenders — rate, features, and total cost of switching — side by side.
Switch
If switching makes sense, we handle the transfer application and coordinate between both lenders so you do not miss a payment.
Thinking about switching lenders?
Share your details and we will show you what is available.