Lender SVP on private market opportunities for brokers

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“So the landscape’s really changed. I think it’s incumbent upon brokers to really educate themselves on what private options are available.”

Traditionally, private lending has been a source of financing for borrowers that would not normally qualify with more conventional lenders – and that holds truer than ever in the current market, said Tuzi.

“It’s a great solution for borrowers that can’t find financing from a traditional source,” he said. “It doesn’t have to be a long-term, three- to five-year solution. It could be one or two years. Brokers should take the time to inform themselves on what private lending is really about.”

The number of private lenders in Canada’s mortgage market is growing rapidly, with the space having witnessed significant growth throughout the COVID-19 pandemic.

 That means it’s essential, Tuzi said, for brokers to do their homework and get their knowledge up to scratch on the various options available.

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