If you want to benefit from borrowing the equity in your home, you could take a mortgage or refinance your property. Many homeowners will use the equity in their property to finance business or other projects, pay down or consolidate debt or even use proceeds to purchase a vehicle, vacation or another home. Alternatively, in a low-interest rate environment, refinancing a mortgage under new terms and conditions can often improve your cashflow.

In either case, in order to borrow the money against your property, your Lender will agree to lend it to you in return for you granting them a financial charge against the title of your property.  It is possible to have more than one mortgage registered against your property and your Lender can be a financial institution or a private lender.

Lenders have various requirements and perform due diligence on the property securing the mortgage before they advance funds. Your lender may request a survey, Strata Property Act forms and perhaps even title insurance; all of which are costs that you should be ready to bear.  Finally your Lender will require you to execute mortgage documents and then we will register that mortgage against your title with the Land Title Office using a Form B mortgage document and any accompanying schedules.

We would be happy to assist you with your refinance or home mortgage. We have established excellent relationships with many mortgage brokers and in-house bank and credit union mortgage specialists.  We would be happy to refer you some options.

Once you have secured your mortgage, you should bear in mind that the following costs may apply:

• Legal Fees and Taxes
• Land Title & Survey Authority Registration Fees
• Survey Certificate
• Title Insurance
• Title Search
• Tax Certificate
• Insurance Binder
• Strata Property Act forms
• Discharge fees for each financial charge being released
• Mortgage Insurance Premium