Shop around for the best mortgage deal at renewal time

It's important to shop around before your mortgage renews, to make sure you're getting the best deal. It's free to transfer your mortgage to another institution, but you'll have to do paperwork all over again, credit checks and provide income verification to the new lender. Unless your very unhappy with your present lender/bank, it's usually easier and makes sense to renew with your current lender, as long as they match or better the best available rate.