# What is a 'straight switch' at renewal and how does it relate to amortization?

> A 'straight switch' happens when you renew your uninsured mortgage with a different lender, without increasing either the loan amount or the amortization period.

Category: Renewal
Last verified: 2026-02-18
Source: https://ratellow.com/faqs/renewal/what-is-a-straight-switch-at-renewal-and-how-does-it-relate-to-amortization

## Answer
* This only applies when transferring an existing stand-alone uninsured mortgage.
* There must be no increases to either the remaining contractual mortgage amortization period or the loan amount.

## Institutional highlights
- You might not need to pass the mortgage stress test when you renew with a new lender.
- This is only if you keep your mortgage amount and payment schedule the same when you switch lenders.
- Lenders will still carefully review your ability to repay your mortgage.
- Your debt payments compared to your income will be carefully considered.
- There are limits on how much you can borrow relative to your income to help manage household debt.

## Related guide
- https://ratellow.com/guides/refinance-extend-amortization

## Sources
- Property appraisals — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#2.4.2
- I. Purpose and scope of the guideline — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#1.0
- Mortgage insurance — https://www.osfi-bsif.gc.ca/en/guidance/guidance-library/residential-mortgage-underwriting-practices-procedures-guideline-2017#2.5.1