Refinances & Mortgages

Refinancing your mortgage is a powerful financial tool — whether you are seeking a lower interest rate, consolidating debt, accessing home equity, or simply switching lenders at renewal. But refinancing is also a legal transaction that requires careful documentation, title verification, and coordination with your lender. Goldstone Law Professional Corporation provides experienced mortgage refinancing legal services to homeowners across Ontario. Our lawyers handle everything from reviewing your lender’s mortgage instructions to registering the new mortgage and discharging the existing one — ensuring that the process is completed accurately, on time, and in full compliance with your lender’s requirements.

What Happens Legally When You Refinance?

When you refinance your mortgage in Ontario, the following legal steps must take place: your existing mortgage must be discharged from title; a new mortgage must be prepared, signed, and registered; and if you are switching lenders, the new lender must be satisfied that the title is clear and insured. All of these steps are completed electronically through Teraview, Ontario’s land registry platform, and must be handled by a licensed Ontario lawyer. Even a straightforward refinance involves several moving parts — coordinating with your existing lender to obtain a discharge statement, reviewing the new mortgage commitment and instructions, preparing mortgage documents for your signature, arranging title insurance if required by the new lender, and ensuring that funds flow correctly on closing day.

Our Refinancing Legal Services Include

• Reviewing mortgage commitment letters and lender instructions
• Preparing and reviewing all mortgage documentation
• Conducting a title search to confirm clear, insurable title
• Arranging title insurance on behalf of you and your lender
• Coordinating the discharge of your existing mortgage
• Registering the new mortgage electronically through Teraview
• Confirming fund disbursement and preparing a reporting letter

Private Lender Refinances

Refinancing with a private lender — rather than a bank or credit union — involves additional considerations. Private mortgages often carry different terms, interest rates, and security requirements than institutional mortgages. We act for both private lenders and borrowers in refinance transactions, ensuring that the documentation properly reflects the agreed-upon terms and that the lender’s security interest is valid and enforceable.

Home Equity Line of Credit (HELOC) Registrations

A Home Equity Line of Credit is a revolving credit facility secured by your property. Registering a HELOC requires the same legal steps as a standard mortgage — title search, mortgage preparation, and registration through Teraview. We assist clients with HELOC registrations for all major financial institutions operating in Ontario.

Frequently Asked Questions — Mortgage Refinancing

Do I need a lawyer to refinance my mortgage in Ontario?

Yes. In Ontario, all mortgage registrations and discharges must be completed by a licensed lawyer through the Ontario Land Registry. Your lender will require you to retain a lawyer to complete the refinance.

How long does a mortgage refinance take in Ontario?

A typical mortgage refinance in Ontario can be completed in 2 to 4 weeks from the time we receive the mortgage instructions from your lender. More complex transactions, such as those involving title issues or multiple discharges, may take longer.

Can the same lawyer act for me and my lender?

In many standard institutional mortgage transactions, the lender’s instructions permit the borrower’s lawyer to also act for the lender. This is common practice for straightforward refinances with major banks and credit unions. Private mortgage transactions typically require independent legal representation for the lender.

Contact Goldstone Law today to arrange the legal work for your mortgage refinance. We serve homeowners throughout Ontario with prompt, professional service.