Blend and extend

How ‘blend and extend’ can save you money on your mortgage

What is blend and extend?

If you’ve ever financed a purchase with a fixed borrowing rate, you know that it has pros and cons. Fixed-rate financing can save you a lot of money and peace of mind if borrowing rates increase, but they can also prevent you from taking advantage of a better rate if rates decrease.

This is where blend and extend can help. It allows you to ‘blend’ your fixed mortgage rate with a lower available rate for a more favourable overall borrowing rate used to ‘extend’ your mortgage.

How can blend and extend save you money?

If you’re finding yourself locked into a fixed-rate mortgage, watching as mortgage rates hit their lowest point in decades, you may want to consider blend and extend. Speak to an advisor to see what your new mortgage rate will be and how much you can save before you make your final decision.

Borrowing against the equity of your home with blend and extend

Another reason to consider blend and extend is to access your home’s equity without having to pay a refinancing penalty. If you find yourself in need of extra cash for a purchase or a project, this can be a much better option than getting a loan. By blending and extending your mortgage, you could borrow against the equity of your home at a more favourable interest rate.

Talk to an advisor

Understanding your options

Get access to all the information you need to make the most of your mortgage. Whether you're locked into a fixed mortgage rate, need access to more money, or looking to buy a new home, speaking with an advisor can help you understand your options.

Book an appointment

Choose Aldergrove Credit Union

Earn cash back

Earn bonuses and rebates on products, plus dividends on equity shares paid annually.

3,600+ ATMs

Access your money across Canada with over 3,600 free ATMs and six local branches.

Digital banking tools

Budget, bank and learn using online and mobile banking solutions 24/7.

No-limit banking

Get excited to save and spend with affordable account options including unlimited transactions.

How to reach us



Send us an email and get a response within one business day.


Monday - Friday
7:00 am - 7:00 pm
Saturday 8:00 am - 4:00 pm

Meet with us

Book an appointment with a
Financial Advisor.

Visit a branch

Stop by any branch and we promise you’ll get a smile.

© Copyright 2020 Aldergrove Credit Union | Online Policies | Privacy & Security

Aldergrove Financial is a trade name of Gulf and Fraser Fishermen's Credit Union