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Repeat Buyers should take the time to ensure that they are getting the best possible deal, regardless of the fact that they have a mortgage with an existing lender. Lenders typically use this as a bargaining chip against the client, and see this as an opportunity to early renew the mortgage with penalties at times, and or a higher rate. This ultimately costs the client thousands of dollars more, than if the client were to payout their existing mortgage, and take advantage of significantly lower/discounted rates.
To avoid this, a Repeat Buyer should take the time to understand the calculations so that they could make an educated assessment. In the case that the current rate of the Repeat Buyer on their existing home is comparable to current rates, the above would not necessarily apply and it may be beneficial for the client to remain with their existing lender.
Something else that the Repeat Buyer should also take into consideration before making a decision on their new purchase and mortgage is whether or not the product they currently have with their existing lender is right for them. There are variations of products in the market place today, which can assist you in paying off your mortgage quicker.