Refinancing is one of the most common reasons Mississauga homeowners call a real estate lawyer. Whether you are switching lenders for a better rate, consolidating debt, or pulling out equity for a renovation in Erin Mills or Port Credit, here is what the legal side involves.

Discharging your existing mortgage

Your current mortgage needs to be formally discharged from title. Your lawyer requests a discharge statement from your existing lender, confirms the exact payout figure (including any prepayment penalties), and arranges for the old charge to be removed once funds are in place. Timing matters here: the discharge and the new registration are coordinated so there is no gap.

Registering the new mortgage

Your new lender sends mortgage instructions to your lawyer. We prepare the new charge, verify the property details against the title search, and register it electronically. We also confirm that property taxes are current and that no new liens have appeared since your original purchase.

Title search and title insurance

Even though you already own the home, a fresh title search is standard on a refinance. It confirms nothing has changed on title, such as a newly registered lien or a tax arrears certificate. Most lenders also require title insurance on the new mortgage, which we arrange as part of the closing.

Signing

Refinance signings are straightforward. We offer mobile signings across Mississauga, including evenings and weekends, and the signing appointment itself is usually brief. Once documents are signed and funds are exchanged, your new mortgage is registered and your old one is discharged.

Thinking about refinancing? See our Mississauga refinancing services or reach out to our Mississauga firm. Flat-fee pricing and a free quote.