Switching my Mortgage
Looking for great mortgage rates and flexible mortgage options? If it’s time to renew your mortgage within the next three months at another bank, make sure you call us for a second opinion to see if switching* your mortgage to BMO® Bank of Montreal will be the right move for you.
The Biggar Team makes switching your mortgage to BMO® simple, hassle-free and we will even pay for the switching costs and legal fees †. We will review all of your mortgage options with you and help you make decisions that could save you thousands of dollars in interest and even be mortgage-free years sooner than you ever thought possible.
Understanding how the switch process works
We will meet with you or talk to you over the phone to complete a quick mortgage application. You will be asked to provide some documents and information that include employment details, list of account balances, assets and liabilities. Once the application is complete we will determine if you qualify for the switch. Once qualified, we have you sign a switch form allowing us to contact your existing lender for the necessary information to finalize everything efficiently. You will need to sign documents with Bank of Montreal outlining the terms of your new mortgage. The mortgage money is then transferred to your existing lender to pay out your existing mortgage. We make it that easy!
Benefits of switching to us
The Biggar Team offers a free financial review to make sure you are maximizing your savings. We go above and beyond to understand what your goals are and what mortgage term will work best for you. Your existing mortgage lender will mail you a mortgage renewal notice outlining your renewal options and ask you to select your choice and mail the notice back to them. The rates may not always be the best rates available or they could even be dated. By switching your mortgage to Bank of Montreal, we will hold a fixed interest rate for you 90 days prior to your renewal date. This service allows you to take advantage of the best possible rate. If rates go up in this time period, you will still get the competitive rate we held for you. If rates go down during this time period, we will inform you and give you the lower rate.
The Biggar Team will keep you up to date with any changes in the mortgage industry that may affect you prior to switching your mortgage and after the switch takes place. We will always be here to answer your questions and help you with mortgage maintenance afterwards. We truly work hard to earn your trust. See what sets us apart from your current mortgage lender.
*Applicable to residential mortgages transferred to BMO® without refinancing. Subject to meeting Bank of Montreal’s usual credit criteria. Some conditions apply. Charges from your existing lender may apply.
†No legal or appraisal fees on qualified applications.