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Renewal Runaround: Let a Mortgage Broker Secure Your Best Rate Without the Bank Bait-and-Switch




Banks that expect customers to fetch lower mortgage rate offers from competitors at renewal time are missing a crucial aspect of customer service—valuing loyalty. This practice can feel like a loyalty test, putting the onus on clients to secure competitive rates themselves, which can be a frustrating and disheartening experience. A mortgage client should not have to approach a broker on renewal for the purpose of rate shopping only to take the rate back to their bank to negotiate a lower rate.

Customers deserve a bank that offers the best rates available, especially at renewal. The process of gathering competing offers is not only inconvenient but also detracts from the trust and relationship built over the years. A bank's best offer should be on the table without the need for bargaining.

However, clients can sidestep this hassle by working with a mortgage broker. A broker does the legwork of rate shopping, leveraging a network of lenders to secure the most competitive rates. They advocate for the client, not the lender, ensuring that the client's loyalty is rewarded with tangible benefits, such as better rates and terms, without the back-and-forth. This not only saves time but also levels the playing field, ensuring you get the lowest rate and best terms based on your unique finances with no run around. With a broker, clients can enjoy the peace of mind that comes from knowing they have a professional in their corner at renewal time.


Contact The Mortgage Missus Inc. today to learn more!


Tonia Mercer | The Mortgage Missus Inc.



About the author,

Tonia Mercer is an independent mortgage broker. She has been in the industry for 15 years, in 2021 she launched her own brokerage The Mortgage Missus Inc. 

Tonia is passionate about financial education and believes that working with independent experts is the best way to get unbiased, professional advice. She has joined forces with local independent home and auto, financial advisor, legal, appraiser and real estate service providers.Effectively creating a concierge service for all things financial and real estate.

Tonia donates a portion of all mortgage revenue to Mercer's Mission, a street dog and cat feeding mission in the Dominican Republic. https://www.facebook.com/mercersmission 

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