Private and Alternative Mortgage, Lending and Financing solutions in Langley City, Richmond, Surrey, Burnaby, Abbotsford, Coquitlam and anywhere else in BC made easy.
Private lending in BC is a popular alternative to conventional lending due to the numerous advantages offered over bank-financing arrangements.
A private lender (also sometimes called an alternative lender) is a person or financial entity that works independently of federally or provincially regulated financial bodies such as banks, credit unions, and trust companies. A private lender can lend money and provide mortgages and other types of loans to borrowers that, for a variety of reasons, may not qualify for a similar loan from a bank.
Our expert team can help you get the private or alternative lending you need.
Private Mortgages - Borrowing
In some cases where credit, income or the property do not fit well with conventional lenders, private lending can be a great option to have. Interest rates are higher than traditional lenders because the risk is higher to the lender. There are also fees to the broker as this is one of the few cases where the broker is not compensated for sourcing the business for the lender. Ideally, private mortgage financing is a short-term solution until we can move the client back into a conventional lender.
Private Mortgages - Lending
Our Vancouver Mortgage team also works with private lenders so that we can facilitate private mortgage borrowing for our clients that need it. Our private lenders invest in individual mortgages with the lender's interest in the property registered directly on title. Each private lender is sent property and client details and can make a decision on whether to invest on a file by file basis in keeping with each investor's preferences. Contact us for more information.