A Home Equity Line of Credit (HELOC) lets London homeowners borrow against their property's equity — like a credit card secured by your home, at mortgage-level rates.
Ontario homeowners with 20%+ equity can access up to 65% of their home's appraised value — revolving, so you draw and repay as needed and only pay interest on what you use.
Speak With a BrokerFund your London kitchen, bathroom, basement, or addition at near-prime HELOC rates. Draw as the project progresses.
Replace 19.99% credit card balances with a 5–6% HELOC. Save hundreds per month in interest.
Use London home equity to fund a rental property down payment or top up your TFSA/RRSP.
Keep a HELOC open as a zero-cost safety net — no interest until you actually draw funds.
Finance tuition or other large expenses at mortgage rates, far cheaper than student loans.
Temporarily access equity while buying before selling — avoid bridge loan fees.
Tell us your goals. We review your equity, income, and property — zero credit pull yet.
We compare 50+ lenders and present the best HELOC rates and products for your situation.
We submit to the chosen lender, coordinate the appraisal, and handle all paperwork.
Once set up, draw funds anytime via online banking — repay and redraw as needed.
Most London homeowners with built-up equity qualify. Key requirements:
A HELOC (Home Equity Line of Credit) lets London homeowners borrow against built-up equity in their home. It's a revolving credit line — draw and repay as needed, paying interest only on the outstanding balance. Ontario homeowners with 20%+ equity can access up to 65% of their home's appraised value.
To qualify for a HELOC in London you typically need at least 20% home equity, a credit score of 650+, and sufficient income to pass the mortgage stress test. lendsimpl works with prime banks, credit unions, and alternative lenders — more options if one declines.
HELOC rates in London are typically Prime + 0.50% to Prime + 1.00%. As of 2026 this means variable HELOC rates starting in the 5–6% range. lendsimpl compares 50+ lenders to find the lowest available rate for your situation.
Yes — renovation funding is the most popular HELOC use in London. Draw funds as the project progresses and pay interest only on what you've drawn. Common projects: kitchens, bathrooms, basement finishing, additions, and landscaping.
Yes. lendsimpl is FSRA-licensed (Brokerage #13763) serving all of Ontario including London. Our licensed agents provide free, unbiased HELOC advice — no obligation, no hard credit pull to start.
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