Renewal

Attain Expert Professional Help in Your Mortgage Renewal

Is your mortgage renewal around the corner? Renewing your mortgage with your lender can be quite stressful and confusing if you do not have adequate knowledge of such renewals.

In such a situation, you can ease your strain and ensure secure renewal of your property simply by reaching out to a licensed mortgage broker. If you are in British Colombia, Harkamal Gill is the name to trust.

Know About the Renewal Process

When you receive a mortgage loan from a lender, the contract between you two parties will have a fixed term. This term is called a mortgage term, and during this period, your loan will remain at the agreed interest rate. The duration of a mortgage term can vary between 6 months to 10 years; however, the most common term for a mortgage is five years.

At the end of a loan term, you need to renew your mortgage, and you may need to do it multiple times before you pay off your entire mortgage loan. Renewing your mortgage enables you to customize your contract in a way that best suits your needs. While renewing your mortgage, you can alter the time period set for the mortgage, change the rates from fixed to variable, and can alter the frequency of your payments.

Making the right decisions while renewing your mortgage can quite overwhelm you. I am here to guide you and suggest you make the right changes that will ensure your maximum benefits.

I will Help You Reconsider Your Needs

The changes that you will make while renewing your mortgage depend basically upon your financial condition, your needs, and your goals. Your long-term plans may not remain the same since your last negotiation.

Mentioned below are the primary factors that you need to reconsider prior to renewing your mortgage.

• Consider your current financial situation. Figure out whether it has improved or deteriorated in recent years.
• Are the frequencies of the payments suitable for your financial condition? Would you like to pay off the loan faster?
• Do you have any renovation plans for your property in the near future that would require refinancing?
• Do you intend to sell your property anytime soon?
• Are the services of your current lender satisfactory enough? Or would you like to choose another financial organization?

My Services Are Here to Support

As your trusted mortgage broker in BC, I will not only help you choose the right lender during your first mortgage, but I will also assist you with valuable guidance and suggestions during your mortgage renewal.

I will carefully analyze your current financial conditions and guide you on the best options that are available for you. I will also negotiate with different financial institutes to source the best renewal offer that will suit your needs.

Connect with me for discussing further