B lenders — such as trust companies and monoline lenders — are regulated financial institutions with more flexible qualifying criteria than the major banks. They are a strong option for borrowers with minor credit issues or non-traditional income. Private lenders are individuals or Mortgage Investment Corporations (MICs) who lend based primarily on property equity, with less emphasis on income or credit. Private rates are higher, but they can close faster and accommodate situations B lenders will not touch.

Yes — private mortgage rates in BC typically range from 8% to 14% depending on the property, equity position, and borrower profile, compared to conventional rates which are currently in the 4–6% range. However, private mortgages are almost always used as a short-term bridge of 1–2 years. The goal is to stabilize your situation and transition to better terms. I always present the full cost picture so you can make an informed decision before committing.

Private mortgages in BC can often close in as little as 5 to 10 business days, which makes them valuable in time-sensitive situations — competing offers, bridge financing, or deals with tight conditions. If speed is a priority, let me know upfront and I will structure the application accordingly.

Absolutely — and that is almost always the plan. I work with every private mortgage client to build a clear roadmap: stabilize with private financing, address the underlying issue (credit rebuilding, income documentation, property improvements), and refinance into a conventional product at renewal. I stay with you through every step of that transition.

A Mortgage Investment Corporation is a Canadian investment vehicle that pools capital from investors to fund mortgages. MICs lend primarily on the equity in the property and are a common source of private mortgage financing in BC. They are regulated under the Income Tax Act and are a legitimate, widely-used part of the Canadian mortgage market — particularly for non-conforming situations.

The mortgage itself, if managed correctly, will not damage your credit. In fact, making consistent payments on a private mortgage can help rebuild your credit profile over time. What can hurt your credit is having multiple lenders pull your bureau in a short period — which is why I target the right lenders from the start rather than applying broadly.

I am Sabeena Bubber — Canada's 2025 Mortgage Broker of the Year and a 30-year specialist in North Vancouver and Surrey. I have access to a wide network of private and alternative lenders and I work with clients who have been turned away by banks every week. My job is to find a path forward — and to be honest with you when one does not exist.