RENEW YOUR MORTGAGE OR REFINANCE.

Much to consider.  Make informed decisions!

At renewal time, take a close look at your current financial situation, and the costs related to some other current debt you may be carrying, such as credit cards.

Do you need to consolidate some existing debts to reduce overall payments,  taking advantage of the current low interest rates. 

Would you like to take some equity out of your home to purchase another property. 

Would you like to renovate.

Do you have added children expenses to cover.

Are you happy to renew your mortgage and continue to pay down your mortgage at the current balance. 

Think about speaking to your existing Lender to see if they are able to offer you a better interest rate than what is currently posted by the banking institution.  Chances are they would like to keep you as a client, and will do their best to give you the best possible rate they have to offer.    This too could potentially save you some added costs. 

Do some reach with other Lenders to see what rates they have to offer.   Have a conversation with a Mortgage Broker, who would have access to more than one lending institution.  

Take the time to investigate and ask questions, the extra effort may potentially save you money.