Use a calm, factual request for clarification or review before signing. This page does not claim that another rate or a particular outcome is guaranteed.
Already received a renewal offer from your lender?
Check the rate against current Canadian mortgage benchmarks before you sign. FairRate is paid by you, not by lenders, and does not sell your information to brokers.
Most borrowers compare only after they have already signed. Free check first; paid report options after the check: Rate Fairness Report CA$24 · Full Renewal Decision Report CA$49. No broker calls. No data sold.
Use this as a starting point and adapt it to the written offer you actually received:
“I am reviewing my Tangerine mortgage renewal offer before signing. Can you confirm the quoted rate, term, rate type, scheduled payment, remaining amortization, penalty wording, prepayment privileges, portability, fees, and material restrictions? Please also let me know whether another renewal option is available for my file.”
This wording asks for clarification and review without claiming that another rate is available or that the lender must improve the offer.
A lower advertised rate is not proof that you qualify for it or that switching is cheaper. Compare like-for-like products and account for possible discharge, transfer, appraisal, legal or notarial, title-insurance, administration, promotional, timing, and other costs or restrictions.
Do not assume that a same-lender renewal, lender switch, refinance, increased borrowing request, amortization change, or other material change follows identical qualification and documentation rules. Verify the exact transaction requirements before acting.
FairRate Canada's benchmark-backed free checker and paid benchmark reports currently support Canadian 5-year fixed renewal offers only. A variable-rate or other-term offer should not be forced against that reference.
FairRate does not claim a lender-specific benchmark, a typical Tangerine renewal rate, a guaranteed alternative rate, or a particular accept, negotiate, or switch outcome.
Use the exact quoted rate, term, rate type, scheduled payment, remaining amortization, renewal date, and material product terms. Ask whether another renewal option is available and request important changes in writing before deciding.
No. A lender may improve, explain, leave unchanged, or replace an offer with another option. FairRate does not claim that a particular lender, team, branch, call centre, or retention channel will provide better pricing.
No. FairRate Canada is not a lender, mortgage broker, mortgage agent, brokerage, law firm, underwriter, or financial advisor. It provides educational comparison context and does not guarantee another rate, approval, savings, or negotiation result.