When you refinance your property, you want to ensure that the new mortgage you’re receiving reflects the understanding of the deal you were presented. Both the lender and your mortgage broker have a vested interest in ensuring that you refinance – your lawyer does not.
When you retain BPC as your real estate lawyers for your re-finance transaction, we will:
- Review you’re the borrowing documents with you to ensure that you understand the specifics of what you are borrowing including things like prepayment privileges, the interest rate being charged, term (length) of the mortgage, restrictions placed on your dealings with the property by the lender;
- Explain to you the security that you are providing to the lender in exchange for the money being lent to you;
- Review the state of your current title to your property and correct any issues that we may identify to ensure that you and the lender have a clear title;
- Prepare any documentation that will be required by the lender;
- Arrange for the discharge of any existing mortgages that are being replaced by the new mortgage; and
- Arrange for title insurance for the lender and, if advisable, for you.