Renewing your mortgage without lifting a finger can seem like a no-brainer. Your current lender often claims to be giving you a preferred rate and all you’ll need to do is come in and sign a renewal form and you’re good for another five years.

But what if that “preferred rate” isn’t actually that preferred? Without shopping around and knowing what your options are at other financial institutions, you can be missing out on thousands of extra dollars in savings.

Why wouldn’t I just stick with my current lender and rate?

While renewing without shopping around is an option, it’s definitely not your best option. Don’t assume your current lender is giving you the best rate possible or that they’re not willing or able to negotiate a better rate.

Approximately 60% of Canadians simply sign and send back their renewal agreement from their current lender, missing out on a mortgage rate that could make their lives easier and get them to the “mortgage-free” status that millions of Canadians aspire to quicker.

With a mortgage representing one of the largest expenses you’ll incur in your entire lifetime, why wouldn’t you use the services of a licensed iCare mortgage professional to help you pay off your mortgage months, or even years, sooner.

iCare can help you to find the best rate for you, ensuring that lenders are competing for your valued business. Our mortgage professionals will shop around for you, finding you the best deal and negotiating with our more than 200 lending partners on your behalf.

Expert advice is just a phone call away

Want to experience the iCare Service Advantage yourself? Let our mortgage specialists help you with a complimentary review of your insurance needs by contacting us at or by calling us at 604-628-5177.



Keep track of your mortgage term and renewal date yourself so you can start shopping around four to six months before your term expires. Most lenders send your expiry notification less than a month or so before expiry, which may not give you enough time to explore all your renewal options.


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