Renewing your Laurentian Bank mortgage
Time to renew your mortgage? Thinking about buying a new home? Has your personal or financial situation changed since you originally obtained a mortgage with Laurentian Bank? We have solutions for you!
Renewing with us is simple
- We will reach out to you a few months before your mortgage maturity date to make an appointment to talk with a financial advisor.
- During your appointment, we will discuss your renewal options and other financing options available to you.
- Your advisor will work hard to come up with the best solution that works for you.
If you are thinking about your renewal before we’ve contacted you, we are here to help!
Book an appointment with one of our advisors, for a meeting in branch or by phone.
You Have Options
Has your life situation changed? Are you thinking about a special project such as a renovation? Want to pay down your mortgage faster? Laurentian Bank has options for you.
- Buying a New Home?
Through our portability feature, your existing mortgage can be moved to a new property which could allow you to keep the terms and conditions of your current mortgage loan (such as the remaining term and amortization, loan balance, interest rate and payment frequency).
- You thought about refinancing?
If you have significant equity available in your property, you may be able to refinance at mortgage renewal to access funds to be used for other purposes such as renovations or repay other high interest debt.
- Thinking of protecting your family from the unexpected?
Renewal may be a great time to add mortgage insurance to add security to your finances.
- Are you wondering which term and payment to choose?
Consider a different term length or mortgage type (fixed or variable) when renewing to get the best fit for your situation.
- You wish to pay down your Mortgage Faster?
When it’s time to renew, consider increasing your payment. This will allow you to pay down your mortgage faster, reducing your interest costs and accelerating the time it will take to be mortgage free.