Compare on the same basis

Put your current renewal offer beside alternatives with the same term and repayment period. Look at the rate, prepayment privileges, portability and any costs to switch. A lower payment may reflect a longer repayment period.

Allow time for a switch

A new lender may need documents and a property review. Ask which transfer, discharge or legal costs apply and who pays them. Avoid assuming that a new offer is final until its conditions are satisfied.

Bring your renewal date

For the first conversation, your renewal month and general goals are enough. Keep the actual statement for a confirmed secure document channel.