Is switching your mortgage a good idea?

by | Oct 1, 2014 | Mortgages

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You may have heard about the switch mortgage, but what is it?
A switch mortgage is basically when you move your mortgage from one lender to another lender, and it is often prompted by renewal notices you get in the mail.
When you receive a renewal notice in the mail, do yourself a favour. Don’t just sign it and accept the lender’s interest rate and terms. Bring it to us, and we’ll try to find you a better deal.
Banks make good money on renewals, and they count on homeowners ignorantly signing the renewal and sending it back without asking questions.
Remember, there’s no cost or obligation to have us take a look. Knowing if switching or transferring your mortgage is the right thing to do starts with a conversation with Mortgage Design Group.