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Professionnel. Digne de confiance. Honnête.
Refinancing Services
Refinancing your property can be a crucial financial decision, whether you're looking to take advantage of lower interest rates, consolidate debts, or access equity. At NLCI, we provide professional legal services to ensure your refinancing process is handled efficiently and in your best interest. We assist with a variety of refinancing scenarios, from simple mortgage registrations to more complex transactions involving title transfers and debt repayments. Here is an overview of our services and associated fees.
1
Simple Refinance with No Transfer and No Mortgage to be Discharged
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A-Lender: Our legal fee for acting on your behalf where the lender is an A-lender is $1,295.00 + H.S.T. plus disbursements. This applies when a new mortgage is being added to the title without the need to discharge an existing mortgage.
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B-Lender: For B-lenders, where additional legal work and documentation is required for funding, our fee is $1,395.00 + H.S.T. plus disbursements.
Disbursements: Costs not included in the legal fees are:
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Title search and execution search fees.
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Registration of the new mortgage ($83.11 per registration).
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Title insurance (varies based on the loan amount).
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Software levy charges, wire transfer fees, fax, photocopy, courier, etc.
Additional Charges:
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Payoff of unsecured debts (e.g., credit cards, vehicle loans) as required by the lender: $49.00 + H.S.T. per debt.
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Independent Legal Advice (ILA): If the lender requires spousal consent or a guarantor, an additional charge of $200.00 + H.S.T. will apply for the preparation of the ILA Certificate. The spouse or guarantor must retain a separate lawyer for this process.
2
Simple Refinance with One Mortgage to be Discharged
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A-Lender: Our legal fee for acting on your behalf where the lender is an A-lender is $1,195.00 + H.S.T. plus disbursements.
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B-Lender: For B-lenders, the legal fee is $1,295.00 + H.S.T. plus disbursements.
Disbursements:
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Title search, execution search, and mortgage registration fees ($83.11 per registration).
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Title insurance (varies based on the loan amount).
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Additional costs for software levy charges, wire transfers, fax, photocopying, courier, and conveyancer fees.
Additional Charges:
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Payoff of unsecured debts required by the lender: $35.00 + H.S.T. per debt.
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ILA for Spousal Consent: If required by the lender, an additional charge of $100.00 + H.S.T. applies for the preparation of the ILA Certificate.
3
Refinance Involving a Transfer of Title
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A-Lender: Our legal fee for refinancing involving a transfer of title, including the discharge of one existing mortgage, is $1,295.00 + H.S.T. plus disbursements.
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B-Lender: For B-lenders, the fee is $1,395.00 + H.S.T. plus disbursements.
Disbursements:
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Title search, execution search, transfer/deed registration ($83.11), and new mortgage registration fees.
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Title insurance (varies based on loan amount).
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Costs for software levy, wire transfer, courier, fax, photocopying, and conveyancer fees.
Additional Charges:
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Payoff of unsecured debts: $49.00 + H.S.T. per debt.
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Trust to Beneficiary Transfers: If the title transfer is from a trustee to a beneficiary, an additional charge of $195.00 + H.S.T. will apply for the preparation of affidavits.
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Inter-Spousal or Gratuitous Transfers: An additional charge of $195.00 + H.S.T. applies for the preparation of the ILA Certificate.
Additional Fees and Surcharges
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Software Levy Charge: Due to increased third-party costs, a software levy charge of $249.00 + H.S.T. applies to all real estate transactions.
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Transaction Surcharge for High-Value Properties: For properties valued over $1 million, a surcharge of $99.00 + H.S.T. applies for every additional $100,000.00 in property value.
Why Choose NLCI for Your Refinancing Needs?
At NLCI, we understand that refinancing your property is a time-sensitive matter that can have significant financial implications. Our team works diligently to ensure your refinancing process is handled smoothly and professionally, whether you're securing a new mortgage, paying off debts, or making changes to the title. We provide clear and transparent pricing, allowing you to plan your refinance with confidence.
For skilled assistance with your refinancing, contact us today at YOURLAWYER@BELLNET.CA. Our experienced team is here to help you navigate the complexities of refinancing and ensure your interests are protected.