Navigating Mortgage Renewals in 2025: What BC Homeowners Need to Know
By Omeed Ghafori — Award-Winning Realtor Serving South Surrey & White Rock
Introduction
For many BC homeowners, 2025 marks a critical year — thousands of mortgages are coming up for renewal amidst rising interest rates and shifting market conditions.
Whether you’re a first-time homeowner or a seasoned investor, renewing your mortgage isn’t just about signing a form — it’s a chance to reassess your financial goals, negotiate better terms, and protect your investment.
Here’s what you need to know about mortgage renewals in 2025 and how to navigate this process strategically.
Why Mortgage Renewals Matter More Than Ever
Over the past few years, many homeowners locked in historically low interest rates. With current rates sitting significantly higher, your monthly payments could increase substantially if you renew without a plan.
This is where having a real estate professional and mortgage advisor on your side is essential.
5 Key Tips for Your Mortgage Renewal in 2025
1. Start Early — 6 Months Before Renewal
Lenders usually send a renewal notice 3-6 months before your term ends. Don’t wait — start reviewing your options early to avoid being rushed into unfavourable terms.
2. Shop Around
Don’t automatically accept your current lender’s offer. There may be better rates or terms with other lenders, especially if your financial situation has improved.
3. Reassess Your Financial Goals
Are you planning to sell, refinance, or stay long-term?
Your renewal strategy should align with your goals — for example:
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Planning to downsize or move? Choose a shorter term.
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Need lower payments? Consider extending your amortization.
4. Consider a Fixed vs. Variable Rate
With interest rates uncertain, deciding between a fixed or variable rate is a critical decision. Fixed rates offer stability, while variable may offer savings if rates drop.
Consulting a mortgage broker can help clarify what’s best for you.
5. Plan for Payment Increases
If your rate is increasing, budget accordingly. You may also want to explore:
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Lump sum payments before renewal
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Consolidating debt
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Refinancing to access equity
How I Can Help You
As a local real estate expert in South Surrey & White Rock, I help homeowners navigate these decisions every day.
Whether you’re:
→ Considering selling before renewal
→ Curious about your current market value
→ Unsure about the next step
I offer complimentary market evaluations and can connect you with trusted mortgage professionals to guide you through your renewal process.
Final Thoughts
Mortgage renewals in 2025 will require strategy, preparation, and expert advice. Don’t leave money on the table or risk overpaying.
Reach out to me anytime for personalized guidance — I’m here to help you make informed decisions about your real estate and financial future.
Omeed Ghafori
Award-Winning Realtor
South Surrey & White Rock
www.OmeedGhafori.com | 778-316-7506

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