Lending Areas

*Other areas will be considered on an exception basis

 British Columbia, including –

  • GVRD, including the Lower Mainland and Fraser Valley, including Chilliwack, Port Moody, Maple Ridge, Pitt Meadows, Port Coquitlam, Mission
  • Sunshine Coast, including Whistler, Squamish, Pender Harbour, Sechelt, and Gibsons
  • Vancouver Island, including the Greater Victoria Area, Nanaimo, Courtenay, Comox, Parksville, Cumberland, and Campbell River
  • Interiorof BC, includingPrince George, Kelowna, Vernon, Penticton, Kamloops, Salmon Arm and Osoyoos

Alberta including –

  • Calgary and the Greater Calgary area
  • Edmonton and the Greater Edmonton area
  • Red Deer, Lethbridge, Medicine Hat

Manitoba including –

  • Winnipeg
  • Brandon    

Other Criteria

  • Security – 1st, 2nd and upon exception 3rd mortgages
  • Property Types – Residential (owner-occupied and rentals), acreage with a house, mobile home on own land, small commercial (upon exception), Condos, townhouses, leaseholds
  • Loan to Value – Up to a maximum LTV of 75%
  • Credit History – Credit history is looked at and will have some bearing on the rate
  • Income Confirmation – Generally not required
  • Terms – 6 months to 1-year term – Open and  closed mortgages, 35 to 40-year amortization
  • Repayment Terms – Principal and Interest. Interest only on an exception basis
  • Payments – Monthly, semi-monthly (1st & 15th), bi-weekly & weekly (if requested). Bayfield is set up for PAP or post-dated cheques
  • Prepayment Penalty (closed mortgages only) – 3 months interest or interest to term (whichever is less)
  • Up to 3 payments can be made monthly without penalty
  • Lump sum of any amount can be made on the anniversary date with no penalty
  • Renewals are offered, providing there has been little or no problem with the client
  • Assumable with prior approval
  • Equity Take-Out, Refinance, Purchase, Bridge Financing, Inter-Alia/Blanket mortgages, vacation properties, 2nd home, investment properties, 2nd mortgages behind CHIP, construction, Re-Advanceable LOC (Line of Credit)*

*for more details, please contact our senior underwriter

For more information, Contact: