Mortgage Renewal
& Transfer Services
Don't just sign your bank's renewal offer. Michael North shops 50+ lenders to find better rates — Ontario homeowners save thousands at renewal time.
Why Choose Michael North
Get Your Renewal Rate Comparison
Free comparison • No obligation • Save thousands
Why Choose Michael North
Why Choose Michael North for Your Mortgage Renewal
As a licensed Ontario mortgage agent, Michael North provides personalized service and access to the best rates from over 50 lenders.
Don't Accept Your Bank's First Offer
Banks often send renewal offers 0.5-1% higher than available rates. Michael shops your renewal across 50+ lenders to find better options.
Save Thousands at Renewal
On a $500,000 mortgage, a 0.5% rate reduction saves over $2,500 per year. Over a 5-year term, that's $12,500+ in savings.
Easy Mortgage Transfers
Switch lenders at renewal with no penalty. Most transfers are free — the new lender covers legal and appraisal costs.
Lock In Early — Up to 120 Days
Secure today's rate up to 120 days before your renewal date. If rates drop, you get the lower rate.
Change Your Terms
Renewal is your chance to switch from variable to fixed, change amortization, or add prepayment flexibility.
Avoid Common Renewal Mistakes
Many homeowners auto-renew without shopping around. Michael ensures you get the best rate and terms available.
Don't Auto-Renew Your Ontario Mortgage
Every year, thousands of Ontario homeowners make a costly mistake: they simply sign their bank's mortgage renewal offer without shopping around. This convenience can cost you thousands of dollars over your mortgage term.
Michael North helps Ontario homeowners get the best possible rate at renewal time. As a licensed mortgage agent with access to 50+ lenders, Michael shops your renewal to ensure you're not leaving money on the table.
The True Cost of Not Shopping Your Renewal:
On a $500,000 mortgage, the difference between a 5.5% and 5.0% rate is:
- $139/month in extra payments
- $1,668/year in unnecessary interest
- $8,340 over 5 years — just for signing without shopping
When to Start Your Mortgage Renewal Process
Optimal Renewal Timeline:
- 120 days before renewal: Contact Michael to start shopping rates. Lock in current rates with no obligation.
- 90 days before: Compare offers from multiple lenders. Decide whether to stay or switch.
- 60 days before: If transferring, start the switch process. If staying, negotiate with your current lender.
- 30 days before: Finalize paperwork and sign renewal documents.
- Renewal date: New rate takes effect automatically. No payment gaps or changes to your account.
Pro tip: If you lock in a rate and rates drop before your renewal date, Michael can get you the lower rate instead. You're always protected with rate holds.
How to Get Your Mortgage Renewal with Michael North
Working with a mortgage agent makes the process simple. Here's how it works:
Review Your Current Mortgage
Michael analyzes your current rate, remaining balance, term expiry, and any features you want to keep or change.
Shop 50+ Lenders
Compare renewal rates from your current lender against offers from 50+ other lenders to find the best deal.
Negotiate or Transfer
Use competing offers to negotiate with your current lender, or arrange a penalty-free transfer to a new lender.
Renew & Save
Sign your renewal documents and start saving with your new lower rate. Most renewals close seamlessly.
50+ Lenders.
One Application.
Michael North has direct access to Canada's top banks, credit unions, trust companies, and alternative lenders. Your single application reaches them all.
BMO
Competitive renewal rates with cash-back options
TD Canada Trust
Flexible terms and rate match guarantee
Scotiabank
STEP mortgage program, eHOME rates
RBC Royal Bank
Rate hold up to 120 days in advance
CIBC
Mortgage rate relief and loyalty programs
First National
Often lowest insured renewal rates
MCAP
Value mortgages with quick approvals
Meridian Credit Union
Member rates with local service
DUCA Credit Union
Community-focused competitive rates
Alterna Savings
Credit union renewal options
Desjardins
Flexible renewal and transfer options
Tangerine
Online rates with low overhead savings
Plus 40+ additional lenders including Desjardins, Manulife, Industrial Alliance, and more
Frequently Asked Questions About Mortgage Renewal
Mortgage Renewal Services Across Ontario
Michael North provides mortgage renewal services to clients throughout Ontario, including these major cities and surrounding areas:
Ready to Get Started?
Contact Michael North today for a free, no-obligation consultation. Get expert guidance and access to the best mortgage renewal rates in Ontario.
Michael North, Mortgage Agent Level 1 (License #M23007520) | Owl Mortgage (Brokerage #13364, Powered by Centum Financial) | Regulated by FSRA