Mortgage Renewal Marketing for Canadian Brokers
Mortgage renewal marketing means reaching homeowners before their term ends, while they still have time to compare, instead of after their lender’s renewal letter has landed on the kitchen table. For a Canadian broker it has two audiences: your own past clients, whose maturity dates you already have, and new prospects, whose dates you have to find out. The method is the same for both. Know the date, start early, offer a renewal review rather than a rate, and follow up by email, text and phone with proper consent.
Why mortgage renewal marketing matters in Canada
Canadian mortgages run on terms, usually five years or less, so every borrower comes back to a decision on a schedule you can see coming.
The current cycle adds pressure. A Bank of Canada staff analysis published in July 2025 expected about 60 per cent of mortgage holders renewing in 2025 and 2026 to see their payment go up. Many locked in during the low-rate years of 2020 and 2021 and are renewing at a higher rate than their original rate. A bigger payment is a reason to talk to someone, and you want that someone to be you.
Then there is the renewal letter. A federally regulated lender, such as a bank, has to send a renewal statement at least 21 days before the term ends. Plenty of borrowers sign it the week it arrives because the deadline feels close and moving sounds like paperwork. The offer may be fine, but nobody knows without comparing. Your job is to be in the conversation months before that envelope shows up.
If you placed the original mortgage and do nothing, the lender’s renewal team handles your client directly, and you may next hear about them when they refinance through somebody else.
Build a maturity-date list in your CRM
Start with your funded files. Export them from Filogix, Finmo or whatever you submit through, and record these fields for every client:
- Maturity date
- Lender and lender type (bank, monoline, credit union, B-lender, private)
- Term length and fixed or variable
- Rough balance at maturity
- Insured or uninsured
- Consent status for email and text, with the date and source of that consent
Then set up automation off the maturity date. A “renewal due” stage that opens 180 days before maturity, with tasks at each step in the cadence below, is enough for most brokers. If your current system can’t trigger on a date field, our guide to choosing a CRM for mortgage brokers in Canada covers what to look for.
For new prospects, you collect the date yourself. Every renewal form and landing page should ask “When does your current term end?” with month ranges, so the lead sorts itself by urgency the moment it lands.
When to start: 180 to 120 days before maturity
Lenders typically let a borrower hold a rate for a switch somewhere around 120 days before maturity, and some allow a longer or shorter window. Many lenders also let a borrower renew early with them in the last few months of a term. You want the client thinking about renewal before those windows open, so they are ready to act.
A sample cadence for a past client:
| Days before maturity | What you send | Channel |
|---|---|---|
| About 180 | Heads-up: your term ends in [month], here is what happens next | |
| About 150 | A few quick questions: staying put, moving, renovating, carrying other debt? | Email, then text |
| About 120 | Book a renewal review and talk about a rate hold | Phone and text |
| About 90 | Second attempt if there was no reply | Phone, then email |
| When the letter arrives | “Send me your renewal letter and I will compare it for you” | Text |
New prospects from ads start at whichever step matches the date they gave you.
What to say in renewal outreach
The best renewal messages are personal and say nothing about rates. Lead with the date, offer a review, and ask about life changes, because a renewal is often the moment someone mentions a renovation, a separation, a new baby or a line of credit they want gone.
An example email to a past client (illustrative wording, adjust for your own voice and compliance requirements):
Hi [First name], your mortgage term with your current lender ends in April. Renewal offers often arrive close to the deadline, so I like to review options with clients a few months ahead. Would a 15-minute call in the next couple of weeks work? If your plans have changed, like moving or renovating, we can cover that too.
An example follow-up text:
Hi [First name], it’s [Your name] from [Brokerage]. Your renewal is about four months out. Want me to put a review on the calendar? Reply STOP to opt out.
For prospects who don’t know you yet, the hook is the letter itself. “Renewal letter arrived? Get a second opinion before you sign” works because it names a real moment. “Lowest renewal rates in Ontario” is a claim that gets brokers in trouble.
Channels that work for renewal marketing
Email. Your workhorse for past clients. Short, plain-text notes from a real person tend to get more replies than designed newsletters. One email per stage, not a weekly blast.
Text. Often the quickest way to book the actual review, as long as you have consent for text and include identification and an opt-out.
Phone. The 120-day call is the one that books meetings. Phone outreach falls under the CRTC’s telemarketing rules and the National Do Not Call List, which have their own exemptions, so check how they apply to your list.
Facebook and Instagram renewal ads. These reach homeowners who don’t know you. Meta has no way to target people by renewal date, so the creative does the targeting: “Term ending in the next six months?” Mortgage ads run under a special ad category on Meta, and the form asks for the maturity month. Put your licence number and brokerage name on the ad and landing page where your province requires it. Our page on Facebook ads for mortgage brokers explains the setup.
Google search. People type “mortgage renewal”, “renew mortgage early” and “switch mortgage at renewal” into Google, often with a city name. Those searches are high intent. A tight campaign on those terms, pointing to a renewal page rather than your home page, is covered in Google ads for mortgage brokers.
Content. A 60-second video on “what to check in your renewal letter” earns its keep. Our guide to mortgage broker social media has more renewal-season post ideas.
Switching lenders at renewal: what borrowers need to hear
Many borrowers stay put because they think leaving is expensive or means requalifying. Accurate answers to those worries are half the pitch.
Prepayment penalties. A standard closed mortgage generally carries no prepayment penalty when the borrower moves to another lender at the end of the term. Penalties apply when someone breaks or transfers the mortgage before the term ends. Check the actual mortgage terms, because products vary.
Switching costs. There can still be costs: a discharge fee from the current lender, an appraisal if the new lender wants one, legal fees (or a notary in Quebec), and administration fees. Many lenders will cover some or all of these on a straight switch, but it varies by lender and by file. The Financial Consumer Agency of Canada tells borrowers to ask the new lender whether it will pay.
The stress test. Since late 2024, a straight switch between federally regulated lenders at renewal generally no longer requires the borrower to requalify at the stress-test rate, as long as the balance and amortization don’t grow. The new lender still underwrites the file under its own policy, so approval is never automatic. We lay out the rule changes and the renewal calendar in more detail on our page about mortgage renewal and switch leads.
Time. A switch needs an application, documents and the new lender’s approval, which is why you start at 120 days, not 21.
If the client wants to take out equity or stretch the amortization, it is no longer a straight switch. That becomes a refinance or HELOC conversation. See refinance leads and HELOC leads for how those products behave.
Compliance for renewal campaigns
- No rate or approval promises. “Beat your bank’s renewal rate” is a promise you can’t keep for every borrower. Offer a review instead.
- Licence details on ads. Include your brokerage name and licence number where your regulator requires it: FSRA in Ontario, BCFSA in British Columbia, RECA in Alberta, the AMF in Quebec, and the relevant regulator in other provinces.
- Rate advertising. If you do quote a rate, disclosure rules apply. Most brokers skip rates in renewal ads for that reason.
- CASL for email and text. You need consent to send commercial electronic messages. Implied consent from an existing business relationship generally lasts two years after a purchase or after a contract ends, and six months after an inquiry. A client you funded four years ago may be outside that window, so ask your compliance officer. The simple fix is express consent at funding to contact the client about their renewal, with the date and wording stored. Every message needs your identification and a working unsubscribe.
Our mortgage marketing compliance checklist goes deeper on each of these.
Questions brokers ask
How early should I contact a client about their mortgage renewal?
Around 180 days before maturity for a first heads-up, and around 120 days for the call that books a review. Lenders typically allow rate holds for a switch at about that point, but each lender sets its own window, so check the ones you use.
Can I market to people whose mortgage I didn’t arrange?
Yes. Facebook and Instagram ads, Google search and content all reach homeowners with a term coming due. Ask for the maturity month on the form and call the closest dates first.
Is there a penalty for switching lenders at renewal?
For a standard closed term, generally not at maturity. Discharge, appraisal and legal fees may still apply, and the new lender sometimes covers them.
Do I need consent to email past clients about their renewal?
Usually, yes. CASL implied consent from a past transaction has time limits, and a five-year term can outlast them. Get express consent at funding, record it, and include an unsubscribe in every message.
Should I advertise renewal rates?
Most brokers shouldn’t. Rates change, disclosure obligations apply, and a rate in an ad can read as a promise. A free renewal review or a second opinion on the lender’s letter is easier to keep compliant.
Want help filling your renewal calendar?
If you would like a renewal system built for you, from the CRM triggers to the ads that find new homeowners, you can book a free strategy call. This site is run by Amplify Leads, founded by Anthony Thai, who has 10+ years in digital marketing. We work month to month with no long contracts, and the leads we generate are 100% exclusive and never resold. You can see the two ways we work, a managed campaign or pay per lead, on how it works.