Mortgage Transfers

Award winning customer service to each and every single client!


Too Many Residents of Mississauga Simply Sign the Renewal

We can transfer your existing mortgage from your current financial institution to another one with better terms and conditions.

Many Canadians simply sign renewals at the end of the mortgage term without taking the opportunity to figure out whether they could make interest savings. Moving your mortgages to a new and cheaper lender could save you thousands of dollars over the term of your mortgage. This is why shopping around for the best rates at the end of the term should take priority.

The renewal of your Mississauga mortgage should be a time to reflect on the many issues that may transpire during the next term. This is the best time to consider changing the conditions, improving the interest rate and changing the lender, particularly if you have not been happy with the service that you have received from your current lender.

If you transfer your mortgage at the time of renewal you will not have to pay financial penalties, whereas changing mid-term will cost you penalties. Depending on the size of the interest rate savings it may still be worth your while to pay the penalties and make the move.

Penalties are usually the greater of three months interest or the interest rate differential.  The penalties basically cover the loss of interest suffered by the lender when he releases you from your mortgage commitment early. Most lenders will allow you to roll the penalties into the new mortgage to assist with any cash flow issues.

Mortgage brokers have many lenders on their books and can assist you in your search for the best mortgage rates. They can also run simulations to determine which option is best.

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Transferring the Mortgage

A mortgage transfer is the route you’ll take when you move the mortgage to another lender. Usually the new lender will cover the cost of the appraisal if he needs one and will also cover the legal costs incurred in closing a new contract.

Many Mississauga lenders will allow you to increase the mortgage by a small amount without incurring any costs. You may not increase this amount to more than the original mortgage amount.

Once you have signed an agreement with the new lender your current mortgage amount and the remaining term will be transferred to the new lender and the new interest rate and new payment amount will apply. No other terms or conditions will change.

Be Proactive

To ensure that you have plenty of time to complete the negotiation and application for the mortgage, you should start the switching process about four months before the renewal date. Most lenders will guarantee the agreed interest rate for this period.

You should not wait for the bank to send you a renewal notice. Be proactive and start shopping around before it arrives. You should feel free to negotiate the interest rate since even small savings can add up to thousands over time.


I've worked with mortgage brokers before and have had some issues, so wasn’t sure if i wanted to go to a bank or a broker again. I ended up finding Leon and his team and the reviews seemed really positive, so i decided to just give them a call and see what they offer. Leon explained everything over the phone and was able to adjust to my schedule for a meeting. We ended up going over everything from start to finish, I explained my situation and he recommended a mortgage for me. He explained how it would save me money and how he would guide me step by step. At any point during the process he was literally just a phone call away and was very responsive. The best experience I’ve ever had with my mortgage. Gonna stick with Leon and his team from now on.
Randa Conyers
Randa Conyers
04:49 24 Feb 18
I found Leon a few months ago when we were looking to secure a mortgage for our new home. I read the reviews and they all seemed positive, so I gave him a call. Leon and his team honestly live up to their reputation, they answer all their calls, respond to emails within the hour and have the best rates I’ve seen. They know everything about the market and answer every question I have. Got a great rate and the customer service was outstanding. Would recommend to anyone, 5 stars
Yolanda Sizelove
Yolanda Sizelove
11:41 17 Feb 18
Most of my income is in dividends so my mortgage approval turned out to be a lot more complicated than normal. Leon guided me step by step through the whole process. He explained everything, was very patient and answered any questions i had. A week before the closing the lender asked for some additional documents and Leon was just a phone call away and was able to get everything together right away. Great service and great team.
Christin Franco
Christin Franco
03:34 01 Feb 18
Working with Leon has honestly been amazing. He managed to find a bunch of properties at a great price. We told him what we were looking for and our budget, he was able to find properties that we were able to renovate and re market. It has honestly been a pleasure working with him.
Tener Fellers
Tener Fellers
03:02 19 Jan 18
The entire team at certified mortgage broker were very kind and professional. Never worked with a mortgage broker before, but was tired of the terrible service at my bank. After a bit of research I found these guys and its been great. They are easy to reach, my rate is lower and they are VERY professional. Awesome service.
Myron Wiggins
Myron Wiggins
02:11 15 Feb 18

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