Don’t Make This Mortgage Renewal Mistake!

When it comes to mortgage renewals, timing is everything. Many homeowners make the critical mistake of waiting until the last minute to start planning for their renewal. This can lead to missed opportunities and higher rates. At Kanga Mortgage, we want to help you avoid this common pitfall and secure the best rate for your renewal.

Why Early Planning is Crucial

If your mortgage is up for renewal within the next 6 months, now is the time to start planning. Interest rates are highly variable right now. While you might currently enjoy a rate of 2-3%, the current market conditions could push you into a rate of 5-6%. This significant increase can have a substantial impact on your monthly payments and overall financial health.

Take Advantage of Lower Rates

At Kanga Mortgage, we currently offer rates below 5% for those who qualify. However, the key to securing these favorable rates is to start the process early. By reaching out to us well before your renewal date, we can work together to improve your eligibility and address any potential issues that could affect your rate.

Common Issues to Address Early

There are several factors that can influence your ability to qualify for the best rates:

‍•High Consumer Debt: Excessive consumer debt can negatively impact your mortgage renewal. By working with us early, we can help you develop a plan to manage and reduce this debt, improving your chances of qualifying for a lower rate.

‍•Rental Properties: If you own rental properties, rental income can be a concern. Early planning allows us to ensure your financial profile is as strong as possible.

Don’t Wait Until the Last Minute

The sooner you start planning for your mortgage renewal, the better your chances of securing a favorable rate. Waiting until the last minute limits your options and can lead to higher rates and less favorable terms.

How We Can Help

At Kanga Mortgage, we’re here to guide you through the renewal process and help you secure the best possible rate. Here’s how we can assist you:

‍• Rate Comparison: We’ll compare current rates and find the best options available for your situation.

‍• Debt Management: We’ll work with you to manage and reduce consumer debt that could impact your renewal.

‍• Planning: We’ll help you develop a comprehensive plan to ensure your financial profile is strong and ready for renewal.

Get Started Today

Don’t make the mistake of waiting too long to start planning for your mortgage renewal. Contact us today to begin the process and secure the best rate for your renewal. Click here to book your consultation.