Renewing just about anything can be a hassle and a pain most of the time, not to mention expensive. Centum Bank Street Mortgage is committed to making your life a little easier when it comes to transferring your mortgage for free. Whether you live in Downtown Ottawa, Alta Vista, Kanata, or even Orleans, we're here to help.
A good rule to keep in mind is to not leave your renewal until the last minute. Since banks like to raise their rates when their clients are renewing, they usually only remind you to renew a month or so in advance so that you don't have enough time to shop around for better mortgage rates for your home or commercial property in Ottawa. The reason they do this is because it gives them the ability to raise their rate by 40-50 biases point because it would be far easier for their existing Ottawa clients to sign a renewal then to remortgage or transfer their current mortgage.
The general process behind transfer of mortgage in Ottawa, Ontario is that when your mortgage is coming up for renewal, we can offer to switch your mortgage at a lower rate with a different mortgage provider or even the same lender for free. Keep in mind that there are some conditions, such as, both the mortgage and renewal must have the same amortization. In some cases, the mortgage amount must also remain the same. However, when it comes to seeing the big picture, the conditions have little impact on the transfer of your mortgage. Transferring during your time of mortgage renewal is a very successful way to save money and have lower interest rates. Did we mention we do it for free?
Here at Centum Bank Street Mortgage, we like to provide you with all the information you need. You won't find the kind of honesty and genuine care that you will with us here in Ottawa, anywhere else in Ontario and all of Canada for that matter. Homeowners usually are not aware of the process involved with transferring their mortgage and this, more often then not, results in simply renewing their mortgage with the same lender for a higher rate. We like to keep our clients informed so that you can save money and enjoy your new or existing home. The common misconception that most people have with transfer or switch of mortgages in Ottawa is that there will be some type of penalty; this is not the case since we don't profit from you and since we have your best interests in mind. If we didn't care, we wouldn't be doing this for free.