Private mortgage financing in Gatineau

Hull, Aylmer, Gatineau, Buckingham or Masson-Angers: the Outaouais has a particularity. A property located in Quebec is subject to the Civil Code of Québec, the mortgage is signed before a Quebec notary and published in the Quebec land register. Not every private lender active in Ontario necessarily lends on this side of the river.

The solutions FERRES can explore for a property in Gatineau:

• Private first mortgage
• Private second mortgage
• Debt consolidation
• Mortgage refinancing
• 60-day notice
• Urgent funding

• employment income in Ontario combined with a credit file that no longer meets bank criteria;
• accumulated debt, or income tax balances owed to Quebec and the federal government;
• a need for funds for renovations or an unexpected expense, when the bank is slow to respond;
• a notice received from a mortgage creditor, a private lender or the municipality.

Whether you work in Quebec or Ontario, a private lender looks first at the value of the property and the available equity. Your income still matters, because it shows your ability to pay the interest during the term of the loan, but it carries less weight than in a bank's analysis.

Debt consolidation can combine cards, lines of credit, personal loans and tax balances into a single loan secured by your Gatineau property. If your current mortgage has a good rate, a second mortgage lets you keep it.

Refinancing replaces the current mortgage with a new one, often for a larger amount. If your bank says no, an alternative or private lender active in Quebec can sometimes step in for a limited period.

In Quebec, a mortgage creditor must serve a prior notice of exercise and observe a 60-day period for an immovable before exercising its remedy. The rules differ from Ontario's: to learn about your rights, consult a Quebec lawyer or notary. On our side, we check whether financing can remedy the default within the deadline.

1. Application: you describe your situation, the amount you need and the purpose of the financing;
2. review: we examine the property, the available equity, your debts and the repayment strategy;
3. lender search: your file is presented to lenders whose criteria match your situation;
4. offer: you receive the proposed terms (rate, term, fees) before deciding;
5. notary: the mortgage deed is signed before a notary, who disburses the funds and pays the designated creditors.

If you work in Ontario, have your recent pay stubs and notices of assessment ready: they confirm your income to the lender.