Private HELOCs from 7.75% for London, Ontario properties. For investors, self-employed professionals, and homeowners who don't fit a national bank's algorithm.
London is one of the most underserved private lending markets in Ontario. Property values are dramatically lower than the GTA — London's average home price sits around $620,000 in early 2026, with typical detached homes running $650,000 to $800,000 and established neighborhoods like Old North and Old South seeing $750,000 to $1M+ — but real equity exists, especially among long-time owners and student-rental investors.
Most national bank HELOC programs are calibrated for GTA-style equity positions and underwrite London files conservatively. Local credit unions help, but their HELOC programs require strong income documentation that self-employed owners and small landlords often can't produce in the format banks want.
Private HELOCs work well in London because the lending decision is local-equity-driven, not national-policy-driven. A solid $720,000 home with $250,000 owed has $290,000 of accessible equity to a private lender — regardless of whether the borrower's tax returns satisfy a bank scorecard.
London has one of the largest off-campus student rental markets in Canada. Investors with a portfolio of student rentals near Western or Fanshawe often hit a wall with bank refinancing once they exceed standard rental property limits. Private HELOC against the principal residence funds the next acquisition or the next renovation.
Trades, small business, contracting, restaurant ownership — common in London, hard to finance through banks. Equity in the home is real even when the tax return is optimized.
Older London homes — especially in Old North, Old South, and along Hamilton Road — convert well to legal duplexes. A $80,000-130,000 conversion turns a single-family into two-unit cash flow. HELOC funds the build.
Long-time London homeowners often hold 80-100% equity by their 60s. A HELOC provides flexible income supplementation without forcing a sale or downsize on the bank's timeline.
Self-employed Londoners often build up CRA balances during slow business periods. Settling before liens attach to title protects future borrowing capacity.
Lower-value markets within driving distance offer some of the best rental yields in Ontario. London home equity funds the down payments.
A homeowner in Old North owns a Victorian detached worth $780,000 with a $210,000 first mortgage. They want to access $150,000 to convert the property into a legal duplex (estimated build cost $110,000) and to fund a $40,000 down payment on a second rental property in St. Thomas. A second-position private HELOC at $150,000 puts combined LTV at 46%. Rate band: 10.75-11.75%. Interest-only payments on $150,000: approximately $1,350-1,470/month. Once the duplex is rented (estimated $2,400/month combined), the property cash-flows positive after the HELOC payment. Time to funded: typically 10-14 days.
Old North, Old South, Byron, Hyde Park, Lambeth, Westmount, Masonville, White Oaks, Hamilton Road, Wortley Village, Stoneybrook, Oakridge, Riverbend, Sunningdale, North London, East London.
Detached, semi-detached, townhouse, and most condos qualify. Rental properties qualify with a 0.25% rate premium. Properties in surrounding rural and edge communities considered case-by-case.
If your bank will give you the line you need at their rate, take it — bank HELOCs are cheaper. We help when the bank says no, when the bank says "yes but for less than you need," when you can't wait the 6-8 weeks bank approvals are now taking, or when your situation is too complex for an algorithm to underwrite.
For most clients, a private HELOC is a bridge — 12 to 24 months to get refinanced back to a bank product once income, credit, or property situation has stabilized. The fully open structure means there's no penalty when that time comes.
Tell us about your property and your situation. We'll come back within one business day with whether this fits, what rate band you'd be in, and what the next step looks like.
If it's not a fit, we'll tell you that too — and where else to look.
We'll review your file and come back within one business day. Check your email (including spam) for our reply.