Canadian Mortgage Trends ~ December 22nd, 2025
Renewing with your current lender is often straightforward, even if you are self-employed, but things change quickly if you want to refinance, switch lenders, or add someone to your mortgage
For many Canadians, a mortgage renewal is quick and painless. If a mortgage is in good standing and the borrower is content to stay with the current lender without changing the amortization, loan amount, or borrower structure, the process is usually smooth, even for self-employed borrowers.
That changes the moment a borrower wants to make adjustments. Adding a spouse to the mortgage or title, accessing equity, or switching lenders for a better rate turns a renewal into a refinance. A refinance triggers full requalification under current lending guidelines, and that is where self-employed borrowers often encounter challenges.
It is sound practice to reach out to your mortgage broker well ahead of your renewal date so that they can help you properly prepare for the road ahead.
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