When your mortgage term is coming to an end, you have the choose to pay off your mortgage in full or renew it. This is a good time to review your mortgage need and make sure you have the right product.
To help you find the right mortgage, consider if:
You do not have to renew your mortgage with the same lender. You can move your mortgage to a different lender if their conditions better suit your needs.
Near your renewal time, at least a few month before the end of your mortgage term, contact various lenders and mortgage brokers to check if they offer mortgage options that better sure your needs, Do Not wait until you received the renewal letter from your lender.