Name: lendsimpl
Address: 3852 Finch Ave E #209, Scarborough, ON, M1T 3T9, CA
Telephone: +1-416-299-6096
Rating: 5.0

Question 1

What is a B-lender or alternative mortgage?

Accepted Answer

Alternative (B-lender) mortgages are offered by lenders outside the major banks. They can approve borrowers with bad credit, past bankruptcies, consumer proposals, or self-employed and non-traditional income that a bank's standard criteria won't fit. Rates are typically higher than a bank but lower than a private lender.

Question 2

How is this different from a private mortgage?

Accepted Answer

B-lenders are institutional alternative lenders with set underwriting guidelines, generally offering lower rates than private lenders. Private mortgages are typically equity-based, funded by individuals or private companies, and used when a B-lender file still doesn't fit — for example a very recent bankruptcy or limited provable income. We compare both and match you to the right lane.

Question 3

Does lendsimpl charge a fee to talk this through?

Accepted Answer

No. There's no cost and no obligation to have your situation reviewed. Any fees that apply to your specific file — lender, broker, legal or appraisal costs — are disclosed in writing before you proceed, as required by FSRA regulations.

Question 4

How do I get started?

Accepted Answer

Email hello@lendsimpl.ca or call +1-416-299-6096, or use the form on this page. We'll review your situation and outline what's realistic before anything is submitted to a lender.

Question 5

How soon after a bankruptcy or consumer proposal can I qualify?

Accepted Answer

Many B-lenders will consider applicants roughly two years after discharge, and some private lenders sooner depending on your equity. Requirements vary by lender and your overall file strength — we'll tell you where you stand.

Question 6

What documents do I need?

Accepted Answer

Government-issued ID and proof of income — pay stubs, T4s, or Notices of Assessment for self-employed borrowers. Self-employed or credit-challenged files sometimes need a few extra documents, which we outline once we understand your situation.

Question 7

How long is the rate hold, and what happens if it expires?

Accepted Answer

Approvals carry a 90–120 day rate hold depending on the lender. If you haven't closed before it expires, we refresh the application and re-issue it — there's no penalty and no need to start over.

Question 8

What if I've already been declined by a bank?

Accepted Answer

That's the most common reason people come to us. A bank decline doesn't mean there's no path forward — B-lenders and private lenders assess income, equity and the full picture differently, and often approve files a bank turned down.

Question 9

Can I get approved with bad credit in Ontario?

Accepted Answer

Often, yes. B-lenders and private lenders in Ontario look at the full picture — income, equity, and ability to repay — not just a credit score. Many clients with bruised credit have been approved.

Question 10

Do you work with self-employed borrowers who write off a lot of income?

Accepted Answer

Yes — this is one of our most common files. We use lenders who assess self-employed income differently than a bank underwriter, including stated-income and add-back programs.

Question 11

Can newcomers to Canada qualify?

Accepted Answer

Yes. Newcomer programs from banks and alternative lenders are designed for recent immigrants without established Canadian credit history, often using foreign credit reports, employment letters, and larger down payments.

Question 12

Can I use this for debt consolidation?

Accepted Answer

Yes. Home equity through a B-lender or private second mortgage can be used to consolidate higher-interest debt into one payment — we'll walk through whether it makes sense for your numbers.

Bank said no? We find approvals banks won’t.

What’s your situation?

Three steps, start to finish

Tell us what's going on

We compare lenders

Approval & close

What you get, at a glance

How the cost works

Situations we help with

Lendsimpl advantage

A broker who looks at the full picture, not just a score.

Alternative mortgage approval in Ontario — our process.

Tell us your situation

Application & documents

Lender matching

Approval issued

You close

Options beyond the bank

30+ lender access

Complex files welcome

FSRA licensed. Full disclosure.

FSRA Licensed #13763

Full fee disclosure — always

No obligation to proceed

Your data stays private

Every stage change, emailed to you automatically.

Toronto & Ontario borrowers, approved when a bank said no.

More on alternative mortgages from lendsimpl.

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Alternative mortgage FAQ.

Talk to a broker who looks past the decline letter.

Or, prefer to just grab a time yourself?

Alternative Mortgage