The MyPlace Playbook // 004

Hello Everyone,

I get asked a lot about what can someone do at the time of renewal, and for many, the answers are a bit of a surprise.

A mortgage renewal isn’t just about keeping a roof over your head—it’s a rare moment where you can reshape your finances without penalty. Done right, it can put more money in your pocket, lower your monthly payments, or even help you make strategic investments.

But to do that, you have to think beyond just “What’s my new rate?”

Here’s what your lender isn’t telling you:

1. You Can Access Home Equity Without Breaking Your Mortgage

• If your home has gone up in value (and chances are, it has), you can tap into that equity at renewal to fund renovations, investments, or even buy a second property.

• This is how people turn their mortgage into a tool—not just a liability.

2. You Can Extend Your Amortization to Free Up Cash Flow

• If rising rates are squeezing your budget, extending your mortgage term back to 25 or 30 years can lower your monthly payments significantly.

• Yes, you’ll pay longer, but you’ll have more financial breathing room today.

3. You Can Roll High-Interest Debt Into Your Mortgage

• Still carrying a credit card balance at 20%+ interest? That’s an expensive way to live.

• At renewal, you can consolidate debt into your mortgage—swapping high-interest payments for one much lower rate.

4. You Can Switch Lenders Without Re-Qualifying

• A rule change now lets you move to another lender at renewal without passing the stress test.

• This means you have more negotiating power than ever—use it. I cannot stress this enough, talk to me, I can help you right now.

5. You Can Get Creative With Your Mortgage Strategy

• Five-year fixed used to be the default, but not anymore. More homeowners are mixing fixed and variable rates (hybrid mortgages) or going short-term fixed (2-3 years) so they’re not stuck when rates eventually drop.

People really do this!

This isn’t theory—it’s happening every day:

Sarah & Mike pulled out $75K in home equity at renewal to build a basement suite. Now, they have a rental bringing in $1,600/month. Their mortgage is working for them.

Josh consolidated $40K in debt into his mortgage and freed up $1,200/month. Less stress, more cash flow.

Emily switched lenders and shaved 0.4% off her rate—a tiny number that saved her nearly $10,000 over five years.

These aren’t once-in-a-lifetime opportunities. They’re renewal opportunities.

So, What’s Your Move?

Mortgages are not investments vehicles you have to monitor daily and sweat over the daily stock tickers on CNN, rather, they’re a tool that can give you significant power. Your mortgage is more than a bill—it’s a financial tool, and every few years, you get a chance to sharpen it.

But that only happens if you take control of your renewal instead of letting your lender control it for you.

So, when your renewal letter arrives, don’t just sign it. Ask questions. Explore options. Negotiate. You might be surprised by what’s possible.

And if you’re not sure where to start? That’s where the right mortgage broker can help.

After all, your bank’s job is to keep your mortgage with them.
My job is to make sure it’s actually working for you.

If you’ve got an unsigned renewal letter in hand it’s your ticket to a coffee and breakfast sandwich at Hotshots, on me. See, you’re already getting value from it, let me show you what more it can unlock ;)

Have a great weekend everyone,

-Andrew Ladriere