Review current debt
Confirm maturity, balance, lender proposal, payout requirements, security, and any relevant obligations.
Refinancing & renewal
Treat maturity as a decision point, not an administrative deadline.
A renewal may preserve a suitable relationship and structure. A refinance may change the lender, proceeds, amortization, security, or other terms. The right path depends on the current mortgage, the property today, and the owner's objective.
Start before the maturity date
Give the property and the financing options time to be reviewed.
Commercial renewals are underwritten files. A lender may request updated property, lease, borrower, valuation, environmental, insurance, and legal information even when the mortgage is staying in place.
Update the property file
Refresh the rent roll, operating statements, lease schedule, occupancy, capital work, and ownership information.
Compare paths
Evaluate renewal and refinance options in the context of cost, timing, conditions, flexibility, and the owner's objective.
Manage conditions
Work through lender diligence and closing requirements before the existing mortgage reaches maturity.
Renew or refinance?
The decision is broader than the stated mortgage rate.
Pricing matters, but so can proceeds, amortization, prepayment provisions, reporting requirements, guarantees, security, lender fees, closing costs, and the ability to accommodate planned leasing or capital work.
- Has the property's net operating income changed since the last mortgage?
- Do material leases expire, renew, or step up near the proposed mortgage term?
- Is the owner seeking additional proceeds, a different amortization, or only a renewal?
- Are there vacancies, arrears, capital projects, tenant improvements, or leasing costs to explain?
- Does the current lender's proposal fit the property's current performance and the owner's plan?
- Is there enough time for appraisal, environmental, legal, and lender review if a new lender is considered?
A focused first conversation