Private Mortgage in Victoria: Compare BC Lender Options 2026
Victoria's private mortgage market has its own dynamics — slightly different lender mix than the Lower Mainland, with a strong BC-headquartered MIC presence (Fisgard, Vault) that competes aggressively for Vancouver Island files.
Why Victoria homeowners use private mortgages
- Cash-out refinance on Greater Victoria detached ($1.1M-$1.4M typical) for renovation, retirement income supplement, or business injection.
- Self-employed Victoria business owners, particularly tourism, hospitality, marine, professional services.
- Retirement-age refinance — Victoria's older demographic uses private financing more than other BC markets for late-career restructuring.
- Bridge financing within Greater Victoria.
- Bank decline alternatives.
Victoria private mortgage rate ranges (mid-2026)
| Position | Rate range | Lender fee | Typical max LTV |
|---|---|---|---|
| Victoria 1st position | ~8.99–12.99% | ~1–2% | 75% Greater Victoria, 65% rural Island |
| Victoria 2nd position | ~10.99–14.99% | ~1.5–3% | 75% combined LTV |
Victoria-specific factors
- Fisgard Capital is headquartered in Victoria and actively competes for Vancouver Island files — often offers competitive terms for Island deals.
- Oak Bay, Saanich detached — strong values, universal lender support.
- Esquimalt, View Royal — well-supported.
- Sooke / Western Communities may need rural-friendly lender — narrower pool.
- Strata properties downtown — generally well-supported; older Heritage buildings case-by-case.
See your real Victoria private mortgage options
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Check My OptionsFAQ
Yes — most major BC MICs (CMI, Antrim, Romspen, VWR) actively fund Greater Victoria files, alongside BC-headquartered Fisgard and Vault. Vancouver Island is in their standard catchment.
Rural Vancouver Island gets a narrower lender pool with lower LTV caps (typically 65% vs 75% urban). Individual private lenders are often more flexible on rural Island than MICs.
5-10 business days for a clean Greater Victoria file. Slightly longer for rural Island deals due to fewer competing offers.