Mortgages can be complicated for an individual who is not part of the industry, and this can hamper their prospects of finding the perfect financial solution. If you’re new to the mortgage industry or are simply in need of finance to achieve your personal dreams, you need to know how to navigate the mortgage market.

Buyers who are looking to purchase a house usually face two common dilemmas. One revolves around where to secure financing from, and the other focuses on the type of funding they need. With multiple options available, highlighting the pros and cons of different mortgage products and making a final decision that is error-free can be challenging for first-time mortgage seekers.

A mortgage renewal provides an opportunity to renegotiate the terms of your mortgage contract, including the length of the next term, and the mortgage interest rate. Unfortunately, as there is a slew of renewal options, you may be confused and overwhelmed while trying to pick the best option. To ensure you get the best deal and steer clear of the many common pitfalls that are lined along the mortgage renewal process, Mortgage Alliance Greater Golden Horseshoe has put together a list of the most common mistakes people make when renewing their mortgage.

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