Re-financing your home

Mortgage Transactions

* What information does your lawyer need to get started?
* Mortgage Commitment Agreement
* Copy of your existing Deed
* Copy of your existing mortgage to be discharged, including the reference number and the mortgagees address
* If you have a private existing mortgage, telephone number to mortgagee or his solicitor
* Survey
* Realty Tax information. Total realty taxes for this year. What realty taxes have been paid so far? When is the next realty tax payment? Are last years realty taxes paid?
* Fire Insurance information, including policy number and agency
* Status statement for any existing mortgage which will remain on title

COSTS

$350.00 (Legal fees) plus GST and disbursements for each mortgage
$75.00 (Legal fees) plus GST and disbursements for discharge of each mortgage

Typical disbursements

* $70.70 for registration of each mortgage
* $70.70 for discharge of each mortgage
* $50.00-$150.00 for title searches
* $50.00-$70.00 for execution searches
* $65.00 for tax certificate (may not be applicable)
* $25.00 for water certificate (may not be applicable)
* $10.00-$20.00 for courier charges
* $10.00-$15.00 for photocopies, faxes and postage
* $10.00-$15.00 for bank drafts
* $106.92 for title insurance (one mortgage under $700,000.00)

* Legal costs may vary for all transactions over $500,000.00