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Renewal Coming Up? Switch to nesto and Save on Your Mortgage

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Chase Belair

Co-Founder and Principal Broker at nesto

Samson Solomon

Mortgage Content Expert at nesto

Renewing your mortgage just got less painful thanks to nesto, an innovative company providing a better and more transparent financing experience.

If your mortgage is coming up for renewal soon — and you’re bracing yourself for the impact — you’re not alone. Nearly half of Canadian mortgages are coming up for renewal between 2024 and 2025.

From 2019 to 2021, low interest rates and a shortage of home supply caused many Canadians to jump into the housing market. “The low-rate environment also caused a lot of existing mortgage holders to renew or refinance their mortgages,” says Chase Belair, Co-Founder and Principal Broker at nesto, an online mortgage lender that aims to provide the best mortgage deals possible to Canadians. And of course, the lower mortgage terms available in Canada make it necessary to renew more often. “Unlike in the U.S., where the mortgage terms are as long as 30 years, Canadians are much more affected by changes in the mortgage rates,” says Samson Solomon, Mortgage Content Expert at nesto.

As a result, a great wave of renewals is coming up — so with it, payment shocks due to higher mortgage rates. For some, this will mean up to a 30 or even 40 per cent increase in their monthly mortgage payments, according to the Canada Mortgage and Housing Corporation. Fortunately, there’s a way to lessen the pain and friction of renewals: nesto.

A transparent financing experience

Since its founding in 2018, nesto has transformed from a mortgage broker to a lender, giving the company full control. “We started off by connecting clients to mortgage solutions with specific lenders,” explains Solomon. “Then we launched our own lending, so now we only lend on our own mortgages.”

We’re on a mission to offer a transparent, positive, empowering, and simplified property financing experience.”

nesto’s unique approach to the mortgage landscape allows it to offer borrowers something that the big banks can’t: mortgage rates that are 15 per cent lower* and commission-free expert advice. The company offers a personalized mortgage solution to the high-rate problem renewers all around the country are facing, helping borrowers mitigate payment shock and save big on their monthly payments by switching lenders.

The magic of tech and transparency

“We’ve become what we are today as a solution to every problem we’ve encountered in the mortgage industry,” says Belair. “We’re on a mission to offer a transparent, positive, empowering, and simplified property financing experience.” Streamlined operations, a remote work set-up and little overhead, a unique focus on mortgages only, and the state-of-the-art proprietary technology utilized by its mortgage advisors, underwriters, and servicing team combine to give nesto a distinctive advantage, with cost savings that it passes directly to its borrowers. “We offer low rates upfront, no negotiation required,” says Belair. “It’s a really simple process you can do from your couch.”

Save on your renewal today. Visit to learn more.

*Comparing nesto’s August 2023 to January 2024 5-year fixed and variable insured rates vs. the big 6 bank posted rates approximately rounded up. Terms and conditions apply. Comparison lenders may offer unpublished special discounts.

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