By omitting proper consideration at the time of renewal, this practice costs Canadian citizens thousands of extra dollars every year. Nearly 60% of borrowers simply sign and send back their renewal that is first offered to them by their lender without ever shopping around for a more favourable interest rate.

At the time of a commercial mortgage renewal the options are numerous for both the lender and the borrower. The lender can offer a renewal or not depending on a number of things including how the loan performed, the current status of the borrower, any change in the lending philosophy of the lender etc. The borrower also has the option to renew the existing loan if the offer is presented, to reduce the loan amount, to pay it off, to increase the loan or to finance elsewhere. Circumstances will often change during the term of a loan be it three or five years or longer which will dictate which route is chose.