We get the rate for you. Not six banks. And half the commission is yours.
About 60% of Canadian mortgages renew in 2025 and 2026. Alone, your renewal is a letter from a bank. In a block of 500 renewals maturing the same quarter in the same province, it is a negotiation with lenders and credit unions who want those files. Looni runs the block. Whatever commission Looni is paid on your file, we split it with you, half and half, in writing.
Example only. Commission rates vary by lender and product. Subject to mortgage brokerage licensing and provincial rules; cash back may be delivered through the licensed brokerage or lender. Not an offer, not advice.
Your maturity date, province and balance. Looni starts the 180-day clock and emails you at every milestone.
When 500 renewals in one province mature in the same quarter, Looni takes the block to lenders and credit unions as one file.
You see the block rate beside your bank's letter, in dollars over five years. You decide. A licensed brokerage or the lender arranges the mortgage.
Looni's commission on your file is disclosed in writing before the hand-off. Half of it comes back to you after funding.
500 pre-timed, pre-read files cost them nothing to find.
Acquisition is the expensive part of a mortgage. A block arrives with maturity dates, balances and statements already read, in one month, in one province. Credit unions lose members to the big banks at every renewal; a block is how they win them back.
The letter is a first offer. The block is the second.
- Rate hold opens 120 to 180 days out at most lenders
- A straight switch at renewal no longer needs the stress test (OSFI, since Nov 21, 2024)
- You keep the right to say no. Nothing moves without you
- Half the commission is yours, not a toaster
Looni is not a bank, a lender or a mortgage brokerage. Rate Block is a planned program. Looni refers pooled renewals to licensed lenders and brokerages and discloses in writing any fee it may receive and its relationship with the lender, as Ontario's mortgage brokering rules require of referrers. The 50/50 cash-back structure, where it is permitted, is delivered through the licensed party. Example figures are illustrative. General information, not financial advice.