Your Renewal is a Negotiation. Don't Sign Until You Compare.
When your term ends, your bank will send you a renewal letter and hope you sign it. Most people do. That's how lenders win. I help you find out if there's a better deal — before you lock in for another five years.
What to think about at renewal time
Rate comparison
Your bank's renewal offer rarely reflects the best rate available. I compare fixed and variable rates across all lenders — not just your current one.
Term length
5-year fixed is popular but not always right. Depending on your plans and rate forecasts, a shorter or longer term may save money.
Prepayment privileges
Some lenders let you pay down principal faster. If you plan to make lump-sum payments, this matters.
Switching lenders
If a better rate is elsewhere, switching at renewal typically has no fees and no penalties — it's the best time to move.
Life changes
New job? Investment property on the horizon? Expecting a major expense? Your renewal is a good time to optimise for what's next.
Start early
Most lenders allow you to lock in a renewal rate up to 120 days early with no penalty. Start looking at the 4-month mark.
Renewal questions answered
When should I start reviewing my renewal options?
Start 4 months (120 days) before your renewal date. Most lenders allow you to lock in a rate this far in advance with no penalty. Waiting until your renewal letter arrives gives you much less time and leverage.
Can I switch lenders at renewal without paying a penalty?
Yes. Renewals are the one time you can switch lenders without paying a prepayment penalty. The new lender typically covers legal and appraisal costs. It's the lowest-cost time to make a change.
Is my bank's renewal offer competitive?
Often not. Banks typically send renewal offers at or above posted rates, counting on most customers to sign without shopping around. A broker comparison almost always finds better rates.
What if I just want to renew with my current lender?
That's fine — sometimes your current lender is the right choice. I'll still help you negotiate a better rate than their initial offer, and confirm it's genuinely competitive before you sign.
Ready to Get Started?
Fill out a quick application and I'll be in touch within one business day. No commitment, no pressure — just an honest conversation about your options.