Refinancing your mortgage is just like getting a new mortgage and you should take just as much care in the process. There are many reasons for refinancing including: debt consolidation, purchasing additional property, breaking an original term if there are cost savings, or accessing equity for making home renovations or other large purchases.
Mortgage Brokers offer several competitive advantages when refinancing your mortgage. In contrast to the big banks, they have the ability to pull from many more sources, which typically results in lower rates and more favourable terms. This can mean tens of thousands of dollars in savings over the life of your mortgage.