01
Switching is free at renewal
Mid-term, breaking a mortgage carries a penalty. At renewal it doesn't. That window only stays open briefly, which is the whole reason to run a comparison now.
Renewal letter arrived? · Summerland
Your renewal is a decision, not a signature.
Signing the first number your lender offers is the one moment in your mortgage where switching costs you nothing. It's worth a conversation before you sign.
- No penalty to switch at renewal
- Free review
- No obligation
Stephen Aitcheson
Submortgage Broker · BCFSA #MB610332
Verified client · Douglas M.
Our bank turned us down for a mortgage and a friend recommended Stephen Aitcheson. He took the time to understand our current finances and provided us with some great options. He was understanding, explained the entire process to us and took care of every detail making the entire process stress free.
The renewal trap
Most renewals are signed without a single comparison
Lenders know a renewal letter usually gets signed as-is. That makes it the easiest offer in the business to leave unexamined.
02
The term matters as much as the number
A term is a bet on the next few years of your life. Stephen walks through what a shorter or longer term would actually mean for your plans.
03
A renewal can restructure more than the mortgage
It's also the natural point to fold in other balances or change your payment shape, if that turns out to make sense for you.
British Columbia licensed · BCFSA #MB610332. Stephen Aitcheson is a Submortgage Broker working through Xeva Mortgage LLP, serving Summerland, Penticton and the South Okanagan. He compares options across lenders rather than one lender's shelf, and his support doesn't end at approval: he schedules an annual review so the mortgage keeps matching your life. No cost to talk, and no obligation.
Before you book: good to know
Does switching lenders at renewal cost me anything? At renewal there's no prepayment penalty for moving, which is what makes that window different from breaking a mortgage mid-term. Some lenders charge their own transfer or discharge administration fees, so Stephen confirms the exact figures with the lender before you decide anything.
How far ahead should I start? Several months before your maturity date is comfortable. It leaves time to compare properly rather than deciding against a deadline.
What if I would rather just stay where I am? That's a completely reasonable outcome, and often the right one. The point of the review is that you stayed knowing what else was on the table.
Stephen Aitcheson, Submortgage Broker, British Columbia Broker License BCFSA #MB610332, working through Xeva Mortgage LLP. Rates and terms are not guaranteed and are confirmed directly with Stephen and the lender. Nothing here is financial or legal advice.
Reserve your spot, then pick a time
Leave your details and we will hold your spot, then you go straight to Stephen Aitcheson Mortgage Solutions's booking page to choose the time that suits you.
- Compares your renewal offer across multiple lenders
- Follows up with an annual mortgage review after you sign
- BCFSA-registered, working through Xeva Mortgage LLP
Prefer to talk? Call 250-299-3886.
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