Ask Arlene about renewing your mortgage - she can help answer your questions!

• Your mortgage is coming up for renewal?

• You want to educate yourself better on what alternatives you have?

• You want to know the risks associated with a variable rate mortgage?

• You want to know if your bank is offering the best rates?

• You want to compare what all lenders have to offer?

• You are looking for independent consultation on what term you should take?

• You want to know how you can pay off a mortgage more quickly?

• If you have read this far you owe it to yourself to find out more about our services or complete an application online.

A Brief Overview

When you bought your home, you probably went to your bank and your mortgage was approved. You may have chosen a specific term or the banker may have guided you. You may not have even thought about term - many people don’t. You may have negotiated a discount although many people don’t.  Now your mortgage is coming up for renewal and your friends, neighbours or work colleagues have told you how they got a better mortgage by going to a mortgage broker.

Why ask Arlene?

A bank earns its profits by lending money. The more money it lends, the more profit it makes. It is not in the banks’ best interests to encourage you to pay off your mortgage more quickly. Arlene will help you focus on a very important goal of paying off your mortgage as soon as possible.

When your mortgage comes up for renewal you could be negotiating with a banker who is paid by the bank to represent the best interests of the bank. How do you know you have been offered the best rates or even the best mortgage available?  Wouldn’t you prefer a choice of lenders to determine for yourself, which offers the most attractive rates, terms and options?  Wouldn’t you like a 4-month rate guarantee instead of the usual 30 days that your bank will offer?  Wouldn’t you really prefer to have Arlene as your personal advocate?

Using the most sophisticated computer technology in the country, Arlene will carefully review your circumstances and explain all the alternatives offered by different banks. We will discuss the benefits of a variable rate and how to limit the risk. We will explain the large savings that can be realized by taking advantage of various prepayment privileges and we will help you evaluate the benefits of weekly, bi-weekly and double up options. Since we represent so many lenders, you can count on us for independent advice and unbiased recommendations. Not only will we save you money by finding the best mortgage available, you don’t even have to pay for our service – IT’S COVERED BY THE LENDER!!

What Fees Will There Be?

At Lawless▲Brown, there are no fees ever! However, when you transfer your mortgage to a new lender, your current bank may resent losing your mortgage business and assess a penalty, which will be added to your mortgage balance. This is often referred to as a discharge fee or administration fee and will cost between $100 and $250 depending on your bank. Ask Arlene about possible ways to reduce this unfair penalty. 

What You Need To Complete Your Transfer Application?

The following is all the information generally needed to process your mortgage transfer:

To start the process we need a mortgage application.  Our online application can be found at here.

Once your application is approved, a letter from your employer or pay stubs or tax returns will be required to confirm your income.  If self-employed, 3 years tax returns will probably be needed.

To ensure accurate preparation of transfer documents a copy of your registered mortgage document, a recent mortgage statement or renewal offer from your existing lender and a copy of your home insurance policy will be required.

A copy of the survey certificate that was prepared for your existing mortgage, if available, will be helpful.

Please bear in mind that when you are asked to provide the above information, Arlene is working hard to obtain the very best mortgage terms available and all the information you give is treated in strictest confidence.

Your personal information will only be given to a lender or lenders to secure a mortgage approval, credit bureaus and their members in order to obtain and exchange personal credit history, Canada Mortgage and Housing Corporation or G.E. Capital if the mortgage is, or is to be, insured, and insurance companies when you specifically authorize us to arrange life or disability insurance in your behalf. Arlene will never sell or give your information for any purpose other than described above.