Renewing your mortgage

Learn more about renewing your mortgage

The mortgage term is the length of your current mortgage loan. Once the term is up, you can renegotiate a new term and rate—or transfer your mortgage to National Bank, if you're with another financial institution.

Renewing your mortgage is a great time to:

Take stock of your finances
Negotiate better terms and conditions with the help of an expert
Pay off your mortgage more quickly or in full

How to renew your mortgage

Time to renew your mortgage? Discuss your options with one of our mortgage renewal experts at 1‑877‑281‑0144. They're available :

Monday to Thursday from 8:00 a.m. to 8:00 p.m
Friday from 8:00 a.m. to 6:00 p.m.
and Saturday from 9:00 a.m. to 5:00 p.m.
(Eastern Time)

4 things to do before renewing your mortgage loan

Smiling woman sitting at her computer talks on the phone

Opt for an early renewal

Why wait until the end of your term to renew your mortgage? Lock in a fixed rate as soon as possible to protect against a potential rate increase.

There's no need to visit the branch—one of our advisors will call you so you can renegotiate your mortgage quickly and conveniently from the comfort of your home.

Top view of a woman with tablet and a man with document sitting at a table

Take stock of your finances

Renewing your mortgage is a great opportunity to review your finances. There might be options better suited to your needs.

For example, if you're now earning a higher salary, you could increase the amount of your monthly payments. If you're more comfortable with risk, you could opt for a variable rate over a fixed rate. If your budget allows, you might even consider repaying your mortgage in full, with no prepayment charge.

See our mortgage loans

Quick tip

Our handy calculators let you try out different scenarios so you can estimate your mortgage payments (or see if you can increase them).

Boy with drill and man with measuring tape look at blueprint

Decide whether a line of credit is right for you

When it's time to renew your mortgage, you can convert a portion into an All-In-One™ line of credit. You'll benefit from one of the lowest rates on the market and be able to access the principal you've repaid.¹

This means you don't need to reapply for financing every time you're facing a major expense like home renovations.

See the All-In-One

Tip

Is your mortgage up for renewal? This is a great opportunity to update your mortgage insurance, so you're payments are protected if the need should arise.²

Talk to an advisor

Are you wondering whether to extend your term or save on interest by increasing your payment frequency? Our experts are here to help. They can answer your questions and provide tailored advice over the phone to save you a trip to the branch.

1 877 281 0144