This will give you time to compare rates and terms, and find the best deal for your situation. Keep in mind that your current lender may not offer the best rate, so it’s important to shop around.
To get the best deal on your renewal, start by comparing rates from a variety of lenders. You can use an online mortgage calculator to estimate your payments, and compare rates from different lenders.
When you’re comparing rates, be sure to look at the total cost of the loan, not just the interest rate. Some lenders may offer a low interest rate but charge high fees, so you’ll want to compare apples to apples.
Once you’ve compared rates, it’s time to start negotiating. If you have a good relationship with your current lender, they may be willing to match or beat a competitor’s offer. If not, don’t be afraid to shop around for a better deal.
Remember, your mortgage is a big financial commitment, so take your time and make sure you’re getting the best possible deal.