Hi Whoa,

As I've written in other threads, I went one step further than negotiating my renewal - I had to negotiate a whole new mortgage midway through my CP because my mortgage co. left Canada.

I was relieved that I was able to get the new mortgage (via a local credit union), and it worked in my favour that I had over two years of regular proposal payments, and records showing a perfect payment history on my previous 5-year mortgage.

I didn't "negotiate" per se - I accepted the offer of a mortgage at the posted rate.

However, times are a-changing. We are now a few years out from the North American mortgage market meltdown, and lending guidelines are relaxing. It's encouraging to hear that your trustee says you can negotiate the terms and not simply accept whatever is offered at renewal.


Let us know how you do!


Best wishes,
~Wendy

Congratulations, Whoa!!  Way to go!  Our mortgage is up in Sept 2013 and I'll be 3 yrs and 4 months/5 yrs into my CP. All the payments are up-to-date no problem, but we're paying 5.5%....would be great to renegotiate at a lower rate if possible.

Thanks for letting us know that it worked out so well!!

JEC