Option A
Do nothing! You stay with your existing financial institution. There are no new applications, or documents to provide. You can negotiate with your lender, and depending on the institution, there may be benefit to being a renewing and returning client with extra discounts. It's worth asking to find out!
Option B
Do something! Refinancing with another institution. As mortgage brokers, we would be able to take your application, and shop the mortgage around for the best rates. This process can be started at any time before the renewal date. In fact, within 12 months, is a reasonable time to start looking at your options.