Mortgage Refinancing in Ontario
You found a better rate. The legal side decides whether you actually save.
A refinance replaces an old mortgage with a new one. The legal work is the bridge between the two. Discharge the existing mortgage, register the new one, get the funds where they need to go. Done well, the savings end up in your pocket. Done badly, you wonder why a "no-cost refinance" cost you anything. Our job is to make sure the math works the way your broker said it would.
What we handle.
Most refinances are straightforward. A few are not. We handle both.
- Reviewing the mortgage commitment from your new lender and the broker's instructions
- Searching title and confirming any registered mortgages, HELOCs, liens, or judgments
- Coordinating with your new lender to receive funds and follow their solicitor instructions
- Paying out your existing lender from the proceeds of the new mortgage
- Paying out any second mortgages, lines of credit, or registered charges that need to come off title
- Registering the new mortgage on title with the priority your lender requires
- Disbursing remaining funds to you where the refinance includes a cash-out for additional equity
- Filing the discharge of your old mortgage once funds have cleared
- Following up with your old lender until the discharge is registered on title
- Sending you a closing report with copies of every document filed for your records
How a refinance closes.
Get your quote
Send us a copy of your mortgage commitment. We'll send back an all-in number with every cost included. Legal fees, discharge handling, registration, disbursements. The number we quote is the number you pay.
Open the file
We confirm title, request the payout statement from your existing lender, and prepare the new mortgage documents based on the lender's instructions.
Sign
At our Erie Street office in Windsor, or remotely from your kitchen table anywhere in Ontario. We walk through the new mortgage and the discharge of the old one and answer every question before you sign.
Fund and discharge
We receive funds from the new lender, pay out the old lender, register the new mortgage on title, and send any remaining equity to you. The discharge of the old mortgage gets registered as soon as your old lender releases it.
A refinance is supposed to save you money.
Your refinance quote includes legal fees, discharge handling, registration, and standard disbursements. Many lenders pay legal fees as part of the refinance package. We confirm whether yours does on the front end so you know what is coming out of your pocket and what is not. The number we quote is the number you pay.
Get my refinance quoteFrequently asked questions.
Yes. In Ontario, only a lawyer licensed by the Law Society of Ontario can register a discharge of your existing mortgage and a new mortgage on title. Your lawyer reviews the commitment, confirms title, coordinates the funding with your new lender, pays out the old lender, registers the new mortgage, and follows the discharge through to registration. The legal fee is part of your refinance closing costs and in many cases is paid by the new lender.
Most refinances close within two to four weeks of the lender issuing the commitment. The timeline depends on how quickly your new lender finalises documentation, when the existing lender provides the payout statement, and whether title raises any issues. Lender-required title insurance, document signing, and registration typically happen in the final week before funding.
Common refinance costs include legal fees, title search and registration disbursements, title insurance (where required by the lender), the existing lender's discharge fee, and any prepayment penalty for breaking your existing mortgage early. If the refinance is happening at the end of your term, there is usually no penalty. If you are breaking the mortgage early, the penalty can be substantial and is calculated by your existing lender. Many new lenders cover legal fees as part of their refinance package. We confirm whether yours does before we start.
That is a question for your mortgage broker or new lender. Most refinances require an appraisal so the lender can confirm the property's value supports the new loan amount. Some lenders waive the appraisal where the loan-to-value ratio is conservative or they have automated valuation tools that satisfy them. The legal side does not require an appraisal, but the lender's commitment usually does.
Yes. Refinancing with a different lender is common, especially if another lender is offering a better rate or product. The new lender pays out the old lender on closing and the old mortgage is discharged from title. Your new lender will issue their own commitment, send their own instructions to your lawyer, and register a new mortgage on title.
A mortgage discharge fee is a small administrative fee charged by your existing lender for processing the discharge of your mortgage. It typically ranges from $300 to $400 and is deducted from the refinance proceeds on closing. It is separate from any prepayment penalty and is paid by you, the borrower, regardless of whether the new lender is covering the legal fees.
Better rate found. Time to register it.
Send us the commitment and we'll send your all-in quote with every cost included.