Costly renewal mistakes, what to do when something goes wrong with your lender, and where to check the facts.
Expensive renewal problems usually come from timing and paperwork rather than the rate alone: a renewal letter signed without comparison, an automatic renewal into a short term at a posted rate, a variable-rate mortgage whose payment jumps when the term resets, or a collateral charge that turns a simple switch into a new registration with legal fees.
The guide to mortgage renewal mistakes is the starting point and links to every other guide here. You will also find guides on letting a mortgage auto-renew, the payment reset on fixed-payment variable mortgages, collateral charges and switching costs, how to complain to your lender and take a case to the Ombudsman for Banking Services and Investments, and a directory of official sources.
These guides are general information. If you are behind on payments, facing a lender that will not renew, or dealing with a power of sale or foreclosure notice, contact your lender early and consider advice from a lawyer (a notary in Quebec) or a non-profit credit counselling service.
Renewal Mistakes, Complaints and Official Sources
What a Canadian mortgage renewal statement must contain, how automatic renewal works, what it can cost, and what to do if your lender will not renew your mortgage.
Renewal Mistakes, Complaints and Official Sources
How standard and collateral mortgage charges differ in Canada, why a collateral charge or readvanceable mortgage can make switching at renewal costlier, and how to price the move.
Renewal Mistakes, Complaints and Official Sources
How trigger rates, trigger points and negative amortization work on Canadian fixed-payment variable mortgages, and why the payment can jump sharply at renewal, with a worked example.
Renewal Mistakes, Complaints and Official Sources
How to complain about a mortgage renewal, penalty or fee in Canada, the 56-day bank process, when to go to OBSI, what FCAC does, and the routes for credit unions, caisses and brokers.
Renewal Mistakes, Complaints and Official Sources
The most expensive mortgage renewal mistakes in Canada, from signing the first offer to missing switch deadlines and variable payment resets, with what each one costs and how to avoid it.
Renewal Mistakes, Complaints and Official Sources
A directory of the federal and provincial bodies behind Canadian mortgage renewal rules, from FCAC, OSFI, CMHC and the Bank of Canada to provincial regulators, OBSI and land registries.
