The ***k is Theft.
Reclaim Your Equity.
Your bank is banking on your exhaustion. They sent your renewal offer early because they want you to sign before you realize how much you're actually losing.
The Reality of the "Loyalty Tax"
A "small" rate difference of 0.50% isn't just a number—it is Financial Arson. On an average Alberta mortgage, that gap swallows $15,000 to $25,000 in pure, after-tax profit over a 5-year term. To pay the bank that extra $20,000, you have to earn nearly $30,000 at your job. You are working for them, for free.
The Door is Unlocked. Walk Out.
As of November 21, 2024, OSFI has dropped the Stress Test requirement for straight mortgage switches. Your bank no longer has the power to "trap" you with high rates just because you can't qualify at +2%. You are free to move. If you don't, you are choosing to be exploited.
Wholesale Execution
We access institutional capital at margins the Big 5 won't show you. Our rates are 0.18% lower on average—money that stays in your family's pocket.
The $0 Switch
In 90% of cases, the new lender pays the appraisal and legal fees to win your business. You get the lower rate; they get the bill. There is zero excuse to stay.
The Extraction Process
"Legally, they only have to give you 21 days' notice. By then, you are trapped. Start 120 days early or prepare to pay the tax."