You may be able to save thousands of dollars by switching mortgage lenders by taking advantage of preferred rates and features.

With the right mortgage renewal tips, you could switch out lenders, or renew with the same lender with better conditions. While many lenders will send you renewal details as early as six months before the term of your loan ends, some banks will leave it until just 21 days before the end of the term. This is the minimum allowed by the Canadian government.