Saskatchewan Mortgage Renewals

Mortgage renewal is a great time for individuals to take advantage of a new rate or product to suit their changing needs. Unfortunately renewals are one of the most neglected decisions made by Canadians.

CMHC stats show that over 50% of all Canadians accept the first rate their bank offers. Many homeowners stay with their existing mortgage lender because they believe it is too time consuming to shop around for a better rate. Or, they may think the offer from their existing bank is the best deal available. This is not true.

Traditional big bank policy is to at best discount the posted rate by 0.10 to 0.50 percent. Our experience has shown that on average, most banks offer their renewing clients a discount of .25% off their advertised rates. If the client does manage to negotiate a better rate, it's usually a maximum ceiling discount of .50%. This is the maximum the branch allows the mortgage representative to discount any mortgage product. Some special cases are given for clients who have many investments held within the bank. For the most part, however, there are no exceptions made.

When a mortgage comes up for renewal many people overlook two significant opportunities to save money.

1. They wait for their bank to notify them that their mortgage has matured (end of term).

2. They don't negotiate a discounted rate.

Not taking advantage of these opportunities will definitely cost you money. TMG will save you time and money by negotiating a better rate on your behalf at no cost to you!

TMG deals with over 75 lending institutions to find you the best possible mortgage to fit your needs. We don't work with one bank or one institution. We are an independent company with a sole purpose of finding you the best mortgage rate in Canada.

TMG rates start at 1.00% to 1.75% below prime!

The TMG advantage is service! We don't stop at the application. We assist you in gathering all information that the lender requires. We strive to make your mortgage renewal or transfer a smooth transition. Unlike the big banks, we work harder to earn your business and to keep you coming back! We guarantee to offer you the best discounted rate offered by any of our many lenders without having to play the big bank negotiation game. We will take care of you before and after each of your mortgage renewals through the life of your mortgage to ensure you always have the best product possible!

If you have any questions concerning your upcoming mortgage renewal please complete our online application or forward any questions to one of our licensed mortgage professionals.