Private Lending on the Rise as Banks Tighten Rules
More Canadians are turning to private mortgage solutions as traditional lenders impose stricter qualification criteria.
Big-six banks have quietly raised the bar on debt-service ratios, beacon scores, and self-employed income verification. The result: a record share of approvals are now happening outside the prime channel.
Private and alternative lenders aren't a last resort — for many self-employed Canadians and clients in temporary credit recovery, they're the most appropriate fit. The key is having a clear, costed plan to exit back to A-pricing within 12–24 months.
If you've been declined recently, don't assume the answer is 'no' across the market. A second opinion from a broker with deep alternative-lender relationships often surfaces options the bank never mentioned.