If you are in the market to refinance your home or do an equity takeout through the placement of a new or additional mortgage, you might be asking, Why hire a lawyer?

You may have already met with your mortgage broker or bank representative and they may have explained to you that a borrower sometimes has a choice of completing the transaction with or without the involvement of a lawyer.

If you proceed on the “without a lawyer” basis (normally through a title insurance company), you will usually be given a quote for a flat fee. If you compare that fee to what a lawyer would charge to be involved in your transaction there may appear to be a cost savings. By proceeding on the “without a lawyer” basis, what you may not realize is what you are really “saving” is very little and doing so at significant cost.

The “cost” is that at by proceeding on the “without a lawyer” basis, at no point throughout the transaction will you have the benefit of any legal advice. Remember that a mortgage is after all an important legal document with serious implications for the borrower. A prudent person wants and expects some legal advice to ensure that they do understand the implications of that document. Only a lawyer can give legal advice. Once you take a minute to compare, you will find our fees very reasonable and a small price to pay for the peace of mind which comes from knowing you have received appropriate legal advice before you sign the documents.

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