Mortgage renewal vs switch to a new lender in Quebec.

Switches inside insured-mortgage rules don't trigger the stress test for the same balance — but switches with increases (refinance) do.

Quebec adds its own layer. Notarial closings replace the lawyer step elsewhere. Underwriters expect the notary, not a lawyer, on instructions. That matters here because underwriters are already scrutinizing the income side of a mortgage renewal vs switch to a new lender file — a property or program complication local to Quebec can push a marginal file over the edge.

Welcome Tax (droits de mutation) on a tiered scale; Montreal adds an extra bracket above $500K.

Programs to check eligibility for in Quebec:

• Home Buyers' Plan
• FHSA
• Montreal Home Ownership Program (varies by family composition)

• Current mortgage statement
• Renewal offer from existing lender
• Income and credit documents per standard application

Quebec nuance: Income tax assessments use the Revenu Québec format alongside the CRA NOA; expect both.

• Co-ownership (divided/undivided) materially changes lender appetite.
• Quebec Law 25 affects what data lenders and brokers can collect.
• Quebec employment letters must usually be bilingual or accompanied by a translation.

Underwriter view of this scenario: The switch process is meaningfully easier than a refinance because the insurance status carries over. Brokers add the most value here.

• Start shopping 120 days before renewal
• Do not increase the balance unless you mean to trigger a refinance
• Compare prepayment privileges and penalty structures, not just rate

• Letting renewal lapse — the lender can move you to an open variable rate at much higher cost.