Renewals & Switches


THE RATE YOU WANT FROM THE EXPERTS YOU CAN COUNT ON

Home ownership can be one of life's most rewarding experiences, both financially and emotionally. Sherwood Mortgage Group helps people make the most of their ownership experience with great rates and service that can result in substantial savings, greater long-term financial gain and peace of mind.

Renewal

Is your mortgage coming up for renewal? Want to make sure you have the best rate and most favourable terms you can get? Sherwood Mortgage Group can save you a lot of legwork by providing a single source through which to discuss your needs with multiple lenders. We work with dozens of lenders, institutional and private, to provide the broadest range of options for you. We also have access to unpublished rates available exclusively to select mortgage professionals.

Sherwood makes it easy to shop for the best rate and terms on your renewal. Best of all, in most cases, it costs you nothing to take advantage of our lender network and expertise.

Switching

There are times when interest rates have dropped enough to make it worth your while to switch to a new mortgage before your renewal date. To do so, you must pay a penalty to your current lender together with the complete principal amount outstanding in order to be released from the mortgage. Thus the rate differential needs to be significant before this option can be considered advantageous. A Sherwood representative can help you determine whether it's worth switching.

Switches often involve changing lenders to get the best rate and terms. Sherwood can help you by consulting with a wide variety of lenders on your behalf and presenting you with a number of options.

Switching has no negative impact on your equity. Switches are exact dollar for dollar payouts, providing your current lender with all outstanding principal and creating a new mortgage in that amount.