• On renewal, as a good consumer it is only prudent that you compare your current financing with what is now available in the marketplace. Not all institutions have the same features or interest rate discounts.
• You do not incur legal or other costs to move your mortgage. The new bank simply ‘buys’ the existing mortgage documentation from your current bank.
• This process does require you to complete a new credit application and credit bureau report. This is a very simple process which is taken care of by your Mortgage Broker.
• If interest rates have dropped significantly it may be worth investigating whether it is economical to collapse your existing mortgage contract. THE MORTGAGE NETWORK INC can provide the financial analysis, if it is not feasible today we will advise you of the time and conditions when it may be.