Mortgage Renewal Specialists · All Credit Situations
Mortgage Renewal in Canada, Approved Even When Your Bank Says No
Turnedaway.ca helps Canadian homeowners complete a mortgage renewal regardless of credit score, income, or missed payments. Whether your bank declined your renewal, you have bad credit, or your private mortgage is maturing, we have the lender network to help.
Get Approved Nowor call 1-855-668-3074
Approvals in as fast as 24 hours · No income or credit requirements · All credit situations welcome
Can You Renew a Mortgage With Bad Credit in Canada?
Yes. You can complete a mortgage renewal in Canada even with bad credit, missed payments, or reduced income. While your bank may decline your renewal, alternative and private lenders approve based on your home equity rather than your credit score alone, so if you have equity in your home, you almost always have options, often with approval in as fast as 24 hours.
Canada's Mortgage Renewal Wave by the Numbers
of all outstanding Canadian mortgages renew across 2025 and 2026
mortgages come up for renewal in 2026 alone
average payment increase for five-year fixed borrowers renewing in 2025-2026
of Canadian mortgage holders worry about making their payments
Sources: Bank of Canada, Staff Analytical Note 2025-21; CMHC 2026 Housing Market Outlook; CMHC 2026 Mortgage Consumer Survey.
How Your Mortgage Renewal Works With Us
Tell Us Your Situation
Reach out online or by phone. We review your renewal, your equity, and why your current lender may have said no. No pressure, no obligation.
We Match You to the Right Lender
We shop your renewal across banks, B lenders, and private lenders to find the best option you qualify for, based on your equity and full financial picture.
You Review Your Options
We explain each renewal offer in plain language, including the rate, terms, and costs, so you can choose with confidence.
Approval in as Fast as 24 Hours
Once you choose, we move quickly to secure your renewal, critical when a maturity or deadline is close.
We Build Your Exit Plan
We set you up with a clear path back toward lower-cost financing at your next renewal, so today's solution moves you forward.
Who Qualifies for a Mortgage Renewal With Us
Homeowners declined for renewal by their bank
Bad or bruised credit, including after a consumer proposal
Self-employed or non-traditional income
A private or B lender mortgage that is maturing
Recent missed or late mortgage payments
Income changes from job loss, illness, or retirement
Equity in your home (the key factor for approval)
Property tax arrears, liens, or high unsecured debt
Common Reasons Homeowners Come to Us at Renewal
Declined by the Bank
Your bank won't renew due to credit or income. Our bad credit mortgage lenders can.
Payment Shock
Renewing off a low pandemic-era rate. We help you find the best available option.
How Much Can You Access at Renewal?
Because renewals with our lenders are based on your home equity, the amount you can access depends on your home's value and existing balance. We arrange financing up to 80% of your home's value, keeping a responsible equity buffer. Here is a worked example.
| Home value | $700,000 |
| Maximum financing (80% LTV) | $560,000 |
| Current mortgage balance to renew | $470,000 |
| Room to also consolidate debt or cover arrears | Up to $90,000 |
Example only. Your actual options depend on your home's appraised value, location, and financial situation.
Facing a Renewal Deadline? Don't Wait.
The earlier you start, the more options you have. Being declined by your bank does not mean losing your home.
Get My Free Renewal Assessmentor call 1-855-668-3074
Your Renewal Options: Banks, B Lenders, and Private Lenders
A renewal can go through one of three lender types. Part of our job is matching you to the right one and moving you toward the lowest-cost option you qualify for.
| Lender Type | Best For | What to Expect |
|---|---|---|
| Banks & Credit Unions (A) | Strong credit and verifiable income | Best rates, strictest qualification |
| Alternative (B) Lenders | Bruised credit or non-traditional income | Flexible qualification, moderately higher rates |
| Private Lenders | Equity-rich, credit or income challenges, urgent timelines | Equity-based approval, short-term bridge, fastest funding |
Many clients use a B or private renewal as a bridge, a shorter term that keeps them in their home and buys time to rebuild, with a clear plan to return to a lower-cost lender at the next renewal. You can also compare a mortgage refinance or a second mortgage if that better fits your goals.
Our Commitment to Responsible Lending
A mortgage renewal should move you forward, not trap you. That is why we arrange financing up to a maximum of 80% of your home's value, ensuring you always keep a healthy equity buffer in your property.
Before you commit to any renewal, we provide a clear Cost of Credit Disclosure so you understand exactly what you are agreeing to. Depending on the lender and product, costs may include lender fees, broker fees, legal fees, and appraisal fees. We name every applicable fee category up front, in plain language, so there are no surprises.
Our goal is always to place you in the most suitable, lowest-cost option you qualify for, with a plan to move you toward better financing over time.
Real Renewal Success Stories
Case Study 1 · Bad Credit Renewal
Renewed After Missed Payments in Oshawa
Mark came to us about three months before his renewal. After a divorce, he had missed several credit card payments and his credit score had fallen into the low 600s. His bank advised it would not renew under standard terms, and he feared he would have to sell his home. We reviewed his equity and secured a one-year renewal with a B lender on his roughly $485,000 balance, and consolidated about $32,000 in unsecured debt into the new mortgage.
Result: Mark kept his home, cleared several high-interest debts, and after a year of on-time payments was positioned to qualify for more competitive financing at his next renewal.
Case Study 2 · Private Mortgage Maturity
Avoided a Forced Sale in Barrie
A homeowner had used a private mortgage after a separation. It was maturing after one year, and they had not yet qualified to return to a traditional lender, with no exit strategy and their original broker no longer involved. We arranged a 12-month private renewal on the roughly $612,000 balance with a lender better suited to their situation, buying time to stabilize income and reduce debt.
Result: They avoided a forced sale, stayed in the home, and later refinanced into a lower-cost alternative solution, a clear path back toward conventional financing.
Case Study 3 · Self-Employed Income
Self-Employed Renewal in Whitby
Sarah had reinvested heavily into her business, reducing her reported taxable income. Her business was healthy, but her tax returns no longer met her bank's underwriting requirements, so the bank declined a conventional renewal despite an excellent payment history and substantial equity. We arranged a one-year mortgage on the roughly $540,000 balance with an alternative lender, using the strength of her equity and overall financial picture rather than tax returns alone.
Result: Sarah kept her home and gained time for her income to recover, later refinancing into a more competitive mortgage.
Where We Serve
We arrange mortgage renewals for homeowners across Ontario and Canada, including:
Toronto · Ottawa · Mississauga · Hamilton · Oshawa · Barrie · Whitby · London · Kitchener · Windsor · Brampton · Markham · Vaughan · Kingston · Sudbury · and communities across Ontario
Mortgage Renewal FAQs
Can my lender refuse to renew my mortgage?
Yes. While many renewals are automatic, a lender can decline to renew, most often due to bad credit, missed payments, income changes, or a maturing private mortgage. If your mortgage is with a federally regulated bank, they must tell you at least 21 days before your term ends if they won't renew. Alternative and private lenders can usually offer a renewal based on your home equity.
Can I renew my mortgage with bad credit?
Yes. Alternative and private lenders focus on your home equity rather than your credit score alone. If you have equity, you can typically renew, often on a shorter term that gives you time to rebuild your credit before moving back to a lower-rate lender.
What happens when a private mortgage comes due?
Private mortgages are short-term and must be repaid or renewed at maturity. If you haven't yet qualified to return to a traditional lender, we can arrange a renewal with a suitable lender and build an exit plan toward conventional financing.
Can I still renew if I have missed mortgage payments?
Often, yes. Missed payments make a bank renewal harder, but alternative and private lenders weigh your equity heavily and can frequently renew even with recent missed payments, giving you a chance to stabilize and rebuild.
Can I switch lenders at renewal?
Yes, though switching to a new lender means requalifying, including the stress test at federally regulated banks. A broker can compare staying versus switching and match you to the lender most likely to approve you on the best terms.
How early should I start my renewal?
As early as possible, ideally a few months before your term ends. Starting early gives you the most options and time to arrange the right solution, especially if your situation is complex.
Can I consolidate debt when I renew?
Often, yes. If you have enough equity, you can roll high-interest debts into your renewed mortgage for a single, lower monthly payment, something we frequently arrange as part of a renewal.
Will my payments go up at renewal?
Many homeowners who locked in low pandemic-era rates are renewing at higher rates. According to the Bank of Canada, five-year fixed borrowers renewing in 2025 or 2026 face an average payment increase of about 15 to 20 percent. We help you find the most affordable option available for your situation.
Do I need income to renew?
Not always. Bank renewals require qualifying income, but our alternative and private lenders focus on your home equity, so we can often arrange a renewal with no income or credit requirements.
How fast can you arrange a renewal?
Approvals are often available in as fast as 24 hours, with funding shortly after, which matters when your maturity date or a deadline is close.
Does the Government of Canada offer renewal protections?
Yes. For mortgages with federally regulated banks, you must receive a renewal statement at least 21 days before your term ends. You can learn more on the Government of Canada's renewing your mortgage page and about your rights on the FCAC mortgage rights page.
What Our Renewal Clients Say
"When my bank told me they wouldn't renew my mortgage because of my credit, I thought I was going to lose my home. Paul explained all of my options without any pressure and found a lender that would work with my situation. The process was straightforward, and I was able to renew my mortgage and stay in my home."
Michael R., Oshawa, ON
"My private mortgage was coming due, and I had no idea what to do next. TurnedAway.ca reviewed my situation, found a new lender, and put together a plan instead of just another mortgage. Everything was handled professionally, and I finally felt like I had a path back to traditional financing."
Sandra L., Barrie, ON
"Being self-employed made my mortgage renewal much harder than I expected. My bank focused on my tax returns instead of my overall financial picture. Paul found an alternative solution that allowed me to renew my mortgage while my business continued to grow. I appreciated the honest advice and quick communication throughout the process."
David C., Whitby, ON
Renew Your Mortgage With Confidence, Whatever Your Situation
Whether your renewal is straightforward or complicated by bad credit, missed payments, income changes, or a maturing private mortgage, we can help you secure the right renewal with the right lender, and a clear plan to move forward. If your bank has said no, we are exactly who you want in your corner.
Get Your Free Renewal Assessmentor call 1-855-668-3074
Free, no obligation, and no pressure · Approvals in as fast as 24 hours