Refinances

Single-family home/condo mortgage refinance 

 

$1,195.00

 

INCLUDES:

  • lawyer fee for services

  • disbursements* (including all searches, mailing, copying, courier, faxes)

  • HST

  • the $75.63 government charge for the registration of your new first mortgage

* The only disbursements not included in the above figure are as follows:

 

(a) the $75.63 government registration cost for each additional document(s) that may in limited circumstances be required to complete your transaction e.g. including but not limited to: registration of an Application to amend your name on title in the event you have married or changed your name since acquiring the property, discharge of your current mortgage if your existing lender does not include the $75.72 in their discharge fee, any documents required to correct your title (if necessary), registration of Deed if removing/adding someone onto title at same time, Power of Attorney (if applicable). Please feel to free to contact my office by email at your convenience should you have any questions as to whether any of these additional documents may be required in your particular situation;

 

(b) Policy of title insurance for the mortgage lender. The cost is typically $137.80;

 

(c) Tax Certificate, if client is unable or unwilling to provide up-to-date property tax information in their possession or obtain written confirmation from the municipality themselves and provide same to this office;

 

(d) Land Transfer Tax (if payable as a result of someone being removed from title at the same time);

 

(e) Status Certificate on condo refinance, if mortgage company insists upon one (almost all waive with title insurance).

 

Additional fees may be applicable if there are any collections to be paid out from the mortgage proceeds, or if the mortgage is being given to secure a business loan.

 

Additional fees and disbursements will apply if:

  • one or more additional parties, who will not be residing in the premises, are signing the mortgage as mortgagors or guarantors

  • a search of writs reveals one or more matching/similar name executions against the Mortgagor(s)

  • your closing date is delayed or amended past the original closing date.

  • the property you are mortgaging is registered in both the Registry and Land Titles system (dual registration)

  • the property you are mortgaging is subject to a contract related to a solar panel installation

  • any Mortgagor is signing documents by way of Power of Attorney

  • the property you are mortgaging is located in a county outside of Essex County.

  • any of the mortgages being registered on title or discharged from title by the Mortgagors on closing are with private (i.e. non-institutional) lenders.

  • paperwork must be signed at an out-of-office location.

  • Your mortgage company requires debts to be paid out from the mortgage proceeds.

  • Your mortgage is being instructed and funded through a 3rd party intermediary title insurance company (e.g. First Canadian Title)

  • Your mortgage is with Canadian Western Trust Company, First National Financial, Home Trust Company, Bridgewater Bank or Haventree Bank.

  • There are more than two Mortgagors.

  • There are any mortgage brokerage fees payable on closing.

  • The new mortgage is going into any positions other than as a 1st mortgage on title.

  • Multi-unit dwellings: Please contact my office at your convenience to receive a customized quote for the purchase of a multi-unit dwelling

Additional fees may be applicable if there are any payouts other than the existing first mortgage.

*Please note: to avoid additional fees, please schedule one single appointment for all persons signing

Please contact my office at your convenience to receive a customized quote for the following:

  • refinance of a multi-unit dwelling

  • Second mortgages

  • Mortgages being given by Corporate mortgagors

 

SPECIAL OFFER! Wills & Power of Attorney: for 2 Wills (basic spousal - mirror) Wills, with one alternate Trustee) and 2 Powers of Attorney (basic combined financial & personal care, with one alternate Attorney), signed in conjunction with real estate closing: $300.00 plus HST.