Mortgage Renewals

It’s important to us that each client has an exit strategy in place at the start of their mortgage with us. This can include transitioning to an institutional lender after the mortgage term or a successful sale of the property.

Our aim is to see our clients successfully execute on their exit strategy.  Sometimes life can be unpredictable.  Should a client be unable to execute on their exit strategy by the end of the term of the mortgage, we can provide favourable renewal terms to assist the client in moving forward towards their ultimate goal.

The Broker's Role

We prefer to let brokers manage the renewal process so that they can maintain their valued relationship with their clients. Often, brokers inform us that they would prefer that Hillmount Capital deal with the renewal directly.  We are happy to manage the process while keeping them in the loop.

Should the broker wish to deal directly with the borrower on renewal, we request that they inform us 60 days prior to maturity. Hillmount Capital will provide the broker with the renewal agreement.  Where we have not heard from the broker or the broker has requested that we deal directly with the borrower, we will provide the borrower with a written renewal agreement 45 days prior to maturity outlining the terms under which we are prepared to renew. This will include renewal terms, fees, and required supporting documentation. Hillmount Capital will include a fee for the broker in the renewal for the first renewal term.