Mortgage Renewals

Winnipeg and Manitoba Mortgages Made Easy

Mortgage Renewals to help pay debt for people in Winnipeg and across Manitoba

Streamline Your Mortgage with Our Tailored Mortgage Renewal Solutions!

We are your trusted Winnipeg and Manitoba Mortgage Brokers

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Why Choose Us For Your Mortgage Renewal Needs?

We are one of the most respected brokerages in the Winnipeg area when it comes to renewing your Winnipeg mortgage and our goal is to provide the people of Manitoba with some of the best mortgage solutions anywhere in the province.

  1. 1

    Wide Range of Options

    As Winnipeg Mortgage brokers, we offer access to numerous lenders, including those not available to the public, ensuring you find a mortgage product that perfectly fits your financial needs.

  2. 2

    Expert Guidance

    With our mortgage expertise, we provide personalized advice to navigate complex mortgage terms and conditions, helping you make well-informed decisions.

  3. 3

    Cost and Time Efficiency

    We are able compare various mortgage deals to secure competitive rates and terms, potentially saving you money and simplifying the application process to save you time.

  4. 3

    Ongoing Support

    From start to finish, mortgage brokers such as ourselves, offer continuous assistance, handling paperwork, resolving issues, and ensuring a smooth mortgage application process.

More About The Spooner Group

The Spooner Group originated in 2016 when Tracy founded the brokerage. We offer over 32 years of experience in mortgage financing, real estate and law. Our award-winning team is looking forward to assisting you with all your mortgage needs.

We offer competitive mortgage rates with many features for you to choose from. Our unbiased advice will continue long after your mortgage has funded. We look forward to building a relationship with you for years to come.

The Spooner Group

What Our Winnipeg Mortgage Clients Have To Say

'Taylor was amazing! She helped us buy our first home with no stress, she was very responsive and helped us with any issues / questions we had. Will definitely recommend the spooner group to anyone i know in need of a mortgage group !'
Jenna Maclean
'The Spooner Group is amazing! Super helpful and will promptly answer all questions. Really loved my experience working with this team.'
Courtney Sabo
'Tracy is absolutely FANTASTIC. She goes above and beyond to help her clients. She's extremely professional and friendly to talk to, and is very knowledgeable about what she does. I would definitely recommend!!'
Katrina Maleski
'Couldn’t ask for better service! They went out of his way to ensure we got approved quickly on our mortgage so we could put in an offer. Being first time home buyers he was able answer any questions that we had and was very communicative throughout the whole process. Thank you Dave!'
Lane Sokolowski

Winnipeg & Manitoba Mortgage Renewal Frequently Asked Questions

We get lots of questions from Winnipeg home owners when it comes to renewing their mortgages. Below are just a few of the most common items and as always, we are glad to answer any questions you might have.

How early can I start the renewal process?

Most lenders send out renewal offers 120 to 180 days (about 4 to 6 months) before your term ends. You can start shopping around and negotiating with different lenders within this period without facing any penalties for breaking your current mortgage.

What is a mortgage renewal, and when does it happen?

A mortgage renewal occurs at the end of your mortgage term, when the initial term (e.g., 5 years) is up but you still owe a balance on your mortgage. At this time, you'll need to renew your mortgage agreement, potentially with new terms and rates, for another term until your mortgage is fully paid off.

Can I negotiate my mortgage renewal terms?

Absolutely. Mortgage renewal is an ideal time to review and negotiate your mortgage terms and interest rates. Don't hesitate to shop around or consult with a mortgage broker to ensure you're getting the best deal suited to your current financial situation.

What happens if I don't take any action on my mortgage renewal notice?

If you don't respond to your mortgage renewal letter, most lenders will automatically renew your mortgage for another term at their posted rate, which may not be the most favorable rate you can get. It's crucial to be proactive and consider your options before your renewal date. This is where we can really help you out and shop around to many different lenders.

Is there a penalty for switching lenders at renewal?

Generally, there are no penalties for switching lenders at the time of renewal, as your mortgage term has ended. However, there may be administrative costs, such as appraisal fees or legal fees, associated with transferring your mortgage to a new lender.

What should I consider when renewing my mortgage?

Evaluate your financial goals, the current interest rate environment, your job stability, and any changes in your lifestyle or financial situation. Consider whether you want to make changes to your amortization period, switch from a variable to a fixed rate (or vice versa), or access home equity for other investments or expenses.

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