Your mortgage renewal allows you to change the terms of your mortgage. You can renegotiate terms related to your mortgage without including any fees:

 

• amortization,

• interest rate,

• loan term. 

 

While many homeowners make changes to their mortgages upon renewal, others stay with the same lender and fail to negotiate new terms at all. This almost always costs you money. It is very important to work with a broker to ensure that you are always well.