Best Mortgage Renewal Rates in Victoria, BC: 3.44% 5yr Fixed


Please use the 2 minute application at the bottom of the page to get started.

Here are the Details:

This is the best mortgage renewal rates offered in Victoria BC.

Your renewal is coming up, and your bank is offering you a terrible rate. The good news is there are other cheaper options available. 

Fixed Rates:
3.44% 5yr Fixed Rate (Insured Mortgages Only) + $1000 Incentive


3.49% 5yr Fixed Rate (Insurable Mortgages Only)
+ $1000 Incentive to be held in a TFSA/RRSP for a minimum of 1yr
+ Available HELOC (if desired)

Variable Rates:
P-1.05% (2.9%) with No Incentive or HELOC.
P-0.6% (3.35%) 5yr Variable Rate
+ $1000 Incentive to be held in a TFSA/RRSP for a minimum of 1yr
+ Available HELOC (if desired)

In some cases the borrower must agree to the following:
1) open a Free Chequing Account at the lending bank and move your payroll deposit to this account
2) contribute a minimum $50/month to the bank’s RRSP/TFSA product of your choosing

How do I know if I qualify for this deal:

1) Property must be owner occupied
2) Original Purchase Price must be under $1M. Current value can be over $1M
3) You must income qualify at the benchmark rate (Stress Test) at the lesser of your current amortization OR 25 years.
4) No new funds added to mortgage.
5) Your renewal date must be within 90 days or sooner. 


1) Legal fees may be required for a transfer – this is lender dependent. Plan for approximately $700. This is normally offset by a much larger savings in interest.
2) Changing your regular banking over to a new institution is a pain in the butt. If it saves you thousands of dollars, it may be worth it.
3) If your renewal date is closer than 30 days away, you may have to renew your current mortgage into an open term (at higher rates) for a short period of time while the new mortgage is drawn up.

How do I get Started?:

Fill out the 2 minute application below:

2 Minute Renewal Application

Mike Grace is an independent full-time mortgage planner and industry insider located in Victoria, BC. If you are purchasing, refinancing or renewing your mortgage, contact Mike to obtain the best available rates and terms.