When you refinance, switch lenders, take out a home equity line or add or remove someone from your mortgage, a lawyer registers the new charge on title and makes sure the old one is discharged. Lenders require this.
We review the lender's instructions, search title, arrange for the old mortgage to be paid out and registered as discharged, and register the new mortgage.
What we handle
- Reviewing the mortgage commitment and your lender's instructions
- Title search and checking for liens, executions or other charges
- Paying out and discharging the existing mortgage
- Registering the new charge and confirming funds are advanced correctly
- Title insurance, where required
Independent legal advice
If someone co-signs or guarantees a mortgage, or if a spouse who is not on title is asked to sign, lenders usually require independent legal advice. We can provide it and explain the obligations.
Before you sign
Check the prepayment penalty on your current mortgage, the interest rate and term, and the total cost of the new loan, including fees. A mortgage broker can compare lenders; we make sure the legal work is done correctly.
Bring or send your lawyer
- Mortgage commitment or approval letter and the lender's contact details
- Latest statement for the mortgage being paid out
- Two pieces of government photo ID
- Property tax bill and proof of home insurance
- Names of everyone who will be on title or who will sign as co-borrower or guarantor
Frequently asked questions
How long does a refinance take to close?
Usually a few business days once the lender's instructions arrive, but it depends on the lender. Contact us as soon as you accept the commitment.
Do I need my own lawyer if the lender has one?
A lender's lawyer acts for the lender. You may use your own lawyer to protect your interests, and many lenders allow you to choose.
Last updated: .This page is general information about Ontario law, not legal advice. Every situation is different; speak to a lawyer about yours.