There are generally a few reasons as to why a mortgage lender would not offer their client a mortgage renewal. Generally speaking, most Canadian bank lenders will provide a mortgage renewal option to clients who have made orderly mortgage payments and whose mortgage account is in good standing at the time of the mortgage renewal process. In some instances, mortgage lenders may not offer a client a mortgage renewal if there have been late mortgage payments during the mortgage term. In other cases, mortgage lenders may not offer their client a mortgage renewal if they’re unable to provide satisfactory income, revenue or financial statements that the lender requires although this mainly applies to commercial mortgages. The most recently witnessed theme of non-renewals have been in the private mortgage lender space where private mortgage lenders have not been renewing private mortgages in particular situations. The main two reasons behind this theme come down to the current cost of capital (private mortgage rates) in 2023 compared to prior years, mainly a result of an increase in the prime interest rate. In other words, private mortgage lenders wish to recoup their capital and fund new private mortgages at prevailing interest rates. In other cases, depending on the location of the real estate collateral, property values have declined. Therefore, depending on the private mortgage ‘loan to value’  private mortgage lenders may not believe that their mortgages are secure and wish to recoup their capital.