Renew with the current lender
If a renewal is offered, review the new payment, fees, term, conditions and balance owing. Check whether the proposed term gives you a realistic path to repayment.
TORONTO · MISSISSAUGA · THE GTA
Private Mortgage
Renewals & Refinancing
Your mortgage is ending.
What comes next?
Review your private first or second mortgage before its term ends. The Mortgage Providers helps GTA homeowners explore renewal, replacement financing and a practical repayment plan.
Have your maturity date and current mortgage details ready. Approval and renewal are not guaranteed.
Toronto officeServing borrowers across the GTA
Private first & second mortgagesRenewal and refinancing reviews
Brokerage licence 10533The Mortgage Providers
A DECISION BEFORE MATURITY
Review the next term.
Revisit the original plan.
A private mortgage renewal continues financing for another term with your existing lender, if offered and accepted. Refinancing replaces or restructures the borrowing, potentially with another lender. Either route needs a fresh look at your circumstances and the complete cost.
If your original plan was to improve your credit, document your income or sell a property, where does that stand today? The next mortgage should fit what is achievable now.
IS THIS YOUR SITUATION?
Your current term is almost over.
- You have received a renewal offer and want to understand it.
- Your lender has not confirmed another term.
- You want to see whether lower-cost financing is now possible.
- Your planned sale or refinancing has been delayed.
- You need to review a private second mortgage alongside your first.
For a new borrowing need rather than an expiring mortgage, explore our GTA private-mortgage services.
COMPARE THE AVAILABLE ROUTES
Renew, refinance
or repay.
The right comparison starts with your actual offers and circumstances, not an assumption that more borrowing is the answer.
Explore replacement financing
Assess whether another private lender, an alternative lender or a bank may fit your situation. A new application requires approval; include discharge and setup costs in the comparison.
Repay through a feasible exit
A property sale or another verified source of funds may form part of the repayment plan. Check timing, the amount available after costs and what happens if the plan is delayed.
HOW WE APPROACH THE REVIEW
Start with the deadline.
Compare the whole cost.
Tell us when the mortgage matures and what your current lender has said. We will review your circumstances and explain which financing options may be available.
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Review the existing mortgage
Confirm the maturity date, balance, payment history, renewal offer and any other loans secured against the property.
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Assess what is possible now
Review the property, equity, income, debts and intended repayment plan. Identify whether a lower-cost option may be available.
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Compare costs and conditions
Consider interest, lender and brokerage fees, appraisal and legal costs, and any applicable discharge or prepayment charges. Ask which costs must be paid upfront and which would be added to the borrowing.
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Confirm the next steps
Review proposed terms and required documents before proceeding. Allow time for lender conditions and legal review; do not assume approval or a closing date.
BEFORE YOUR CONVERSATION
Bring the details.
Leave the guesswork out.
- Property address and mortgage maturity date
- Current mortgage statement and renewal offer, if provided
- Details of other mortgages and secured debts
- Any arrears, lender notices or upcoming payout deadlines
- An overview of income and changes since the original loan
- Your plan to repay, refinance or sell
Reviewing a first and second mortgage?
Both matter. A change to one loan can affect the cost and practicality of the overall plan. We need to understand what remains in place as well as what you want to replace.
For the initial enquiry, share your contact details and a brief outline. Ask how to provide financial documents securely.
PRIVATE MORTGAGE HELP ACROSS THE GTA
A Toronto team.
A review of your property.
We work with borrowers in Toronto, North York, Scarborough, Etobicoke, Mississauga, Vaughan, Richmond Hill, Markham and Aurora. Tell us where the property is and what needs to happen before maturity.
Location alone does not establish eligibility. Available financing depends on the property, borrower, lender requirements and a suitable repayment plan.
Keep the wider picture in view.
If additional borrowing would only postpone an unaffordable situation, that needs to be part of the discussion. A manageable monthly payment does not by itself mean the total borrowing is affordable.
YOUR QUESTIONS
Private mortgage
renewal FAQs.
Start here, then discuss the details of your own mortgage with our team.
Will my private mortgage renew automatically?
Do not assume it will. Check your contract and ask whether the lender is willing to offer another term. A renewal offer may include different terms and fees. Renewal and replacement financing are not guaranteed.
Can I refinance with a different lender?
Possibly. A new lender will assess your property, equity, income, debts and repayment plan against its requirements. Compare the complete cost of replacing the mortgage with any renewal offer available.
Can I move from a private mortgage to a bank?
That depends on whether you meet the new lender’s requirements at the time you apply. Improved credit or income may help, but neither guarantees approval. We can review whether a lower-cost option is available and what still needs to be addressed.
What if my lender has declined a renewal?
Contact us promptly with the maturity date, mortgage statement and any lender correspondence. We can assess whether other financing may be available. If you have received a demand letter or enforcement notice, also speak with an Ontario lawyer without delay. A financing enquiry does not suspend your obligations or legal deadlines.
Can I renew or refinance a private second mortgage?
Potentially, subject to lender assessment. The review needs to include both mortgages, the property’s value, available equity and the costs of keeping or replacing each loan. Changing the second mortgage does not automatically change the first.
What should I bring to the first conversation?
Have your mortgage statement, maturity date, renewal offer if available, property address and details of other secured debts ready. We will explain which income, tax, insurance and other documents may be needed for a lender assessment. Do not send sensitive documents through a general enquiry form.
LET’S REVIEW YOUR NEXT STEP
When does your
private mortgage end?
Tell us your maturity date, property location and whether you have a renewal offer. We will help you understand which options may be worth exploring.
Prefer to call? 416-398-1323
Important information
General information for Ontario borrowers, not individualized mortgage, financial, legal or tax advice or an offer to lend. Products, lender criteria, costs and availability can change. Approval, renewal, future refinancing and funding timelines are not guaranteed. Private mortgages may involve higher costs and the risk of losing the property if obligations are not met. Contact The Mortgage Providers to confirm current details and discuss your circumstances before acting. Obtain independent legal or tax advice where appropriate.
