Mortgage Refinancing
Many homeowners refinance to access home equity, lock in a lower interest rate, or consolidate debt. We ensure the legal steps are handled efficiently so funding is not delayed.
Our Role in Refinancing
- We review your new mortgage agreement to confirm the terms suit your needs.
- We discharge your existing mortgage and register the new one.
- We ensure your lender’s conditions are met and that the funding process goes smoothly.
What Refinancing Involves
When you refinance, your new lender sends instructions to your lawyer. The lawyer searches title, arranges for the old mortgage to be discharged, registers the new mortgage and makes sure the lender's conditions are met before the funds are released. If more than one person is on title, or someone is guaranteeing the loan, the lender may require each of them to receive independent legal advice before signing.
Before You Sign
Read the new mortgage terms carefully, including the interest rate, term, prepayment charges on your existing mortgage and any fees. A lawyer can explain what you are agreeing to, though the decision to refinance is yours.
Tip
Refinancing involves legal steps similar to buying a home. Engaging a lawyer early can help avoid delays in funding.