Refinance/Renewal

Take advantage of your home equity! 

With many Canadians enjoying the benefits of home ownership and the increase in their home value, now might be a good time to review your financial situation and see if you can put your home equity to use to payout any higher interest loans or make that big purchase. The team at Gibbard Group Financial is always here to be your resource to give you the information you need when refinancing or renewing your mortgage.

Reasons to refinance you home? 

  • Consolidating your other high-interest debt into one, lower payment
  • Renovating or making home improvements
  • Combining existing mortgages into one simple mortgage at a lower rate
  • Restructuring the mortgage to plan for the future (i.e., obtain a Home Equity Line of Credit)
  • Making a large purchase – vacation home, boat, etc.
  • Helping your children with their University expenses.

Is your mortgage coming up for renewal?

Don't be too hasty in just signing the form and sending it back to the lender. Over 70% of mortgage holders do just that, and what is the usual result? A higher rate and a mortgage product that might not be best suited to their current interests.

Use Gibbard Group Financial’s Easy Options to do all the work for you. We will find you the best possible rate and product to suit your needs. You may want to renew/switch your mortgage to another lender who will most often give you a better rate. Most lenders now offer "no cost or low cost switches" and it is a smart way to reduce your interest costs.

We can take care of all the details for you and help you negotiate with your existing lender or find a new lender who will give you very competitive rates.

Are you breaking a closed mortgage to transfer to a new lender?

Many closed mortgages have the feature that allows the balance to be paid out with a penalty after a certain time has elapsed on the mortgage. Check the "prepayment" clause in your mortgage to determine your own situation, or better still, call your institution and ask them the cost of paying out in full. In some cases, it may still save you money in the long-run to pay the penalty and get into a lower rate, or lower payment situation. Let us work the numbers for you with Gibbard Group’s Easy Options.