The term length you choose for your mortgage depends on your goals and risk tolerance.

Generally, with a longer term:

• Your interest rate will be higher, but your risk will be lower because you will be less exposed to market fluctuation.
• You will have to renew your mortgage and change rates less often.

A longer term may better suit your needs if:

• You want to keep your property for many years.
• You don't want to renegotiate your rate.

With a shorter term:

• Your interest rate may be lower, but your risk will be higher because you will be more exposed to market fluctuation.
• You'll have to renew your mortgage and change rates more often.

A shorter term may better suit your needs if:

• You're thinking of selling your property soon.
• You want the opportunity to renegotiate the rate and terms of your mortgage.

Need advice?

• Discuss your project with one of our mortgage advisors.
• Contact us to discuss your mortgage renewal.