Best Mortgage Lawyers in Canada

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Moland Partners
Mississauga, Canada

Founded in 2000
50 people in their team
English
Moland Partners is an advisory and consultancy law firm made up of a team of highly driven professionals with in-depth knowledge of corporate and commercial law, real estate advisory, corporate governance and immigration. Our expertise positions us to offer the most practical solution to challenges...
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Benedict Ferguson & Marshall
Caledonia, Canada

English
Benedict Ferguson & Marshall stands out as a trusted legal service provider in Canada, offering comprehensive counsel across a variety of practice areas. With a particular focus on general practice, real estate law, and notary public services, the firm demonstrates deep expertise in addressing the...
U. OKEBUGWU LAW (UO LAW)
Pickering, Canada

English
U. Okebugwu Law (UO Law) is a private practice firm located in Pickering, Ontario, dedicated to delivering personalized and efficient legal services. The firm offers expertise in immigration law, business law, wills and estate law, and real estate law, serving clients across the Durham Region,...
Winnipeg, Canada

English
Hook & Smith, located in Winnipeg, Manitoba, is a distinguished law firm offering comprehensive legal services across various practice areas. The firm's expertise encompasses corporate and commercial law, wills, trusts, and estates law, estate administration, commercial and residential real estate...

Founded in 2012
English
Duensing Law, located in Toronto, Ontario, offers comprehensive legal services in wills and succession planning, probate and estate administration, estate litigation, and real estate law. The firm is led by Matthias Duensing, a versatile lawyer with a focus on wills, trusts, estates, and real...
Grayson & Company
Moose Jaw, Canada

English
Established in 1883, Grayson & Company has been a cornerstone of the Moose Jaw community, providing comprehensive legal services for over a century. The firm's areas of practice encompass corporate commercial law, agricultural law, family law, labour and employment law, litigation, municipal law,...

Founded in 1999
English
Olschewski Davie Barristers & Solicitors stands out in the Canadian legal landscape through its comprehensive expertise in family law, real estate, and estate planning. With a dedicated team specializing in divorce and mediation services, the firm provides nuanced legal guidance tailored to each...
Waterloo, Canada

English
Chan Law, located in Waterloo, Ontario, offers comprehensive legal services in real estate law, wills and estates, family law, and corporate/commercial law. The firm also provides notary public services, ensuring a broad spectrum of legal assistance for its clients. The firm's reputation is built...
AYF Law Firm
Markham, Canada

English
AYF Law Firm, located in Markham, Ontario, offers comprehensive legal services across multiple practice areas, including family law, criminal law, wills and estates, real estate, immigration, and paralegal services. The firm's team comprises experienced lawyers, paralegals, and immigration...
Alberta Law Office
Edmonton, Canada

Founded in 2021
English
Alberta Law Office, based in Edmonton, Alberta, specializes in family law, offering comprehensive legal services in areas such as divorce, child custody, spousal support, and property division. The firm's experienced attorneys are dedicated to guiding clients through complex legal processes with...
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About Mortgage Law in Canada

Mortgage law in Canada governs the legal rights and obligations of individuals and financial institutions involved in mortgage transactions. A mortgage is a loan secured by real property, typically a home, which serves as collateral for the loan. The laws surrounding mortgages in Canada vary by province, but they generally set out the requirements for obtaining a mortgage, the rights and responsibilities of borrowers and lenders, and the processes for foreclosure and enforcement.

Why You May Need a Lawyer

There are several situations where you may need to consult with a lawyer specializing in mortgage law in Canada. Some common reasons include:

  • Negotiating the terms of a mortgage agreement
  • Resolving disputes with your lender
  • Facing foreclosure or default on your mortgage
  • Refinancing your mortgage
  • Transferring or selling property with an existing mortgage

Local Laws Overview

While mortgage laws in Canada are based on federal legislation, there are also specific laws and regulations that vary by province. Some key aspects of local laws that are particularly relevant to mortgages in Canada include:

  • Property law and real estate regulations
  • Provincial mortgage regulations and licensing requirements
  • Foreclosure procedures and timelines
  • Consumer protection laws related to mortgages

Frequently Asked Questions

What is the difference between a fixed-rate and variable-rate mortgage?

A fixed-rate mortgage has a set interest rate that does not change over the term of the loan, while a variable-rate mortgage has an interest rate that can fluctuate with market conditions.

What is mortgage insurance and do I need it?

Mortgage insurance protects the lender in case the borrower defaults on the loan. It is typically required if you have a down payment of less than 20% of the purchase price.

Can I get out of my mortgage early?

Most mortgages have penalties for early repayment, but it is possible to break your mortgage early by paying a prepayment penalty.

What is a mortgage broker and do I need one?

A mortgage broker is a licensed professional who can help you find the best mortgage terms from various lenders. While not required, a broker can be helpful in finding competitive rates.

What is a mortgage pre-approval?

A mortgage pre-approval is a lender's conditional commitment to lend you a certain amount of money at a specific interest rate, based on a review of your financial information.

What is a mortgage default?

A mortgage default occurs when a borrower fails to make their mortgage payments on time. This can lead to foreclosure and the loss of the property.

How long does it take to get a mortgage approved?

The timeline for mortgage approval can vary depending on the lender and the complexity of your financial situation, but it typically takes a few days to a few weeks.

What is a mortgage amortization period?

The mortgage amortization period is the length of time it will take to pay off the entire mortgage loan. This is typically 25 to 30 years in Canada.

What is a mortgage renewal?

A mortgage renewal is when your current mortgage term comes to an end, and you have the option to renegotiate the terms of the loan with your lender.

What are closing costs and who is responsible for paying them?

Closing costs are fees associated with finalizing a mortgage transaction, such as legal fees, appraisals, and title insurance. The responsibility for paying closing costs can vary between the buyer and the seller.

Additional Resources

For more information on mortgage law in Canada, you can consult resources such as the Financial Consumer Agency of Canada (FCAC), the Canada Mortgage and Housing Corporation (CMHC), and provincial regulatory bodies for real estate and mortgages.

Next Steps

If you require legal assistance with a mortgage issue in Canada, it is recommended that you contact a lawyer specializing in real estate and mortgage law. They can provide guidance on your rights and options, help you navigate complex legal issues, and represent you in negotiations or court proceedings if necessary.

Lawzana helps you find the best lawyers and law firms in Canada through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Mortgage, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Canada - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.