Your bank's renewal letter is an opening offer. Treat it like one.
Most Canadians sign their renewal without shopping it. That single signature is the most expensive one they make.
Your advisor works the file end to end: assessing which lenders' rules you fit, negotiating the rate, and managing the paperwork through to funding. On a standard residential mortgage the lender pays our fee, so the service costs you nothing.
You do not need any of it to get a quote. Send it once you decide to proceed.
Our bank offered 5.19% on renewal. Rateshop came back with 3.89% at a credit union and covered the switch costs. Twenty minutes of my time saved us $312 a month.
Self-employed for nine years and three banks said no. The advisor here knew exactly which lender reads business income properly. Approved in four days.
We were paying four cards at 22%. One refinance, one payment, and we are done with the debt in five years instead of never.
