Mortgage Brokers London, Ontario
Explore a future in the Forest City
From Old North and Wortley Village to Riverbend, Sunningdale and the growing north end, we help homeowners, buyers and investors across London and Middlesex County find financing that fits their situation, including the situations banks turn down.
1-855-242-7732- Licensed Ontario mortgage agents, FSRA #13691
- Access to over 50 lenders across Ontario
- Self employed, student rentals and bruised credit welcome
- Every initial consultation is free and comes with no obligation
London is not one market
Where You Buy Changes the Numbers
Headline averages hide a wide spread across the city. The gap between the north, south and east ends is one of the most important things to understand before you set a budget.
London South
$677K
Recent average sale price. Established family neighbourhoods and newer subdivisions, generally the higher priced end of the city alongside London North.
City wide average
$662K
Recent average across all property types in the London and St. Thomas board area, with the typical home benchmark closer to $570,000.
London East
$477K
Recent average sale price. The most accessible entry point in the city, and where first time buyers and investors are most active.
Sources: London and St. Thomas Association of REALTORS and MLS HPI reporting. Figures update monthly and reflect the most recent reporting period.
London and Middlesex County
Local Mortgage Brokers London and Middlesex County
Searching for Mortgage Brokers London homeowners can count on? We are licensed Ontario mortgage agents working with buyers, refinancers and investors across the Forest City, from the heritage streets of Old North and Old South to Byron, Riverbend, Masonville, White Oaks and the growing north end around Sunningdale and Fox Field. London is one of the more affordable major markets in Ontario, roughly a third below GTA pricing, and that affordability keeps drawing families, students, professionals and investors.
It is also a city of very different sub markets, with a wide price gap between the north, south and east ends, and a large student and healthcare population that shapes how people buy. Self employed income, a student rental near Western or Fanshawe, a new build purchase, or bruised credit can all make qualifying with a bank harder, even when the income and the equity are clearly there. We work on purchases, renewals, refinancing and equity access, and a large part of what we do involves borrowers who have already been declined somewhere else.
If your situation is straightforward, we can shop it broadly. If it is complicated, we know which lenders will still look at it. Either way, the first conversation costs nothing.
What Mortgage Brokers London Offer
Most London borrowers come to us for one of six reasons.
Buying a Home
A first home in the east end, a family home in Byron or Riverbend, a new build up north, or a rental near Western. We compare lender options so you know what you can realistically qualify for before you make an offer. See mortgages for home buyers.
Mortgage Renewals
Your lender will send a renewal letter. That letter is an offer, not the only offer. Renewal is the easiest moment to move your mortgage because there is usually no prepayment penalty, and many London homeowners never compare before signing.
Refinancing
A mortgage refinance can restructure what you owe, free up monthly cash flow, or roll high interest debt into a single payment against your home.
Accessing Home Equity
If your London property has built value, a home equity loan, a HELOC or a second mortgage can fund a renovation or a purchase without disturbing a first mortgage you would rather keep.
Debt Consolidation
Credit cards, car loans and lines of credit each carry their own payment. Consolidating them against your home can cut the number of payments you manage each month and lower the overall interest you carry.
Stopping a Default
If you have fallen behind, there are usually still options. We work with homeowners facing missed mortgage payments and those trying to stop power of sale.
New build buyers
The 2026 HST Rebate on New Homes, and What It Means for Your Financing
If you are looking at a new build in a growth area like Sunningdale, Fox Field, Talbot Village or Riverbend, there is a significant tax rebate available right now that changes the math on your purchase.
Ontario's enhanced New Housing Rebate, combined with the federal top up, can return the full 13 percent HST on a qualifying new home valued up to $1 million, to a combined maximum of $130,000. That is made up of up to $80,000 of the 8 percent provincial portion and up to $50,000 of the 5 percent federal portion. Separately, eligible first time buyers can claim the federal First-Time Home Buyers' GST Rebate, which removes the 5 percent federal GST on a new home up to $1 million.
Two details get missed constantly. First, this applies to newly built or substantially renovated homes only, since resale homes do not carry HST in the first place. Second, the headline $130,000 is the maximum at the $1 million price point. On a typical London new build the rebate is proportional to the purchase price, so it is still substantial, just not the headline number.
April 1, 2026Ontario's enhanced rebate window opens. Your agreement of purchase and sale must be signed on or after this date to qualify.
March 31, 2027The window closes. Agreements signed after this date fall outside the enhanced program.
Primary residenceThe home generally must be your primary place of residence, or that of a qualifying relation.
First time buyersClaim the federal First-Time Home Buyers' GST Rebate first, then the Ontario enhanced rebate.
Broker Tip
Plan for the cash flow, not just the rebate
This is a rebate, not an exemption. HST is still charged on the sale and then refunded. Whether that money leaves your pocket at closing depends entirely on your builder.
If the builder credits the rebate at closing, you never front the cash. If the builder does not, or if the paperwork is not ready in time, you may need to fund the HST yourself on closing day and recover it afterward. On a new build, that can be tens of thousands of dollars you were counting on for your down payment.
That difference matters more than most buyers realize, because it can decide whether you clear a 20 percent down payment and avoid mortgage default insurance premiums, or fall just short and pay them.
Bring us the agreement of purchase and sale before you firm up. We will structure the mortgage around how and when the rebate actually lands, so the closing works either way.
Worth confirming before you rely on it. Rebate rules, dollar caps and eligibility windows can change, and CRA application forms for the enhanced program have been rolling out through 2026. Confirm your specific eligibility with the CRA, your builder and your lawyer. Nothing here is tax advice.
Why London Homeowners Get Declined by Banks
A bank decline is rarely about the property. It is almost always about how the borrower fits a fixed set of rules.
Self Employed Income
Business owners and contractors often write down income legitimately, then find their notice of assessment does not support the mortgage they can clearly afford. Self employed mortgage options use different income documentation.
Student Rental Income Not Counted
If a suite near Western or Fanshawe is informal or undocumented, most banks will not credit the income. That decision alone can drop your qualifying amount well below what the property supports.
New Build Closing Gaps
A commitment made months ago may not survive an appraisal or an income change at closing, and rebate timing can change how much cash you actually have on the day.
Debt Servicing Ratios
A mortgage plus car payments and a line of credit can push ratios past a bank's fixed thresholds. Our lending guidelines page explains where alternative lenders allow more room.
Bruised Credit
A collection, a consumer proposal, or a stretch of late payments can end a bank application on its own. A bad credit mortgage through an alternative lender weighs the property more heavily than the score.
Arrears and Tax Debt
Property tax arrears or Revenue Canada debt registered against your title will generally stop a bank cold, even when equity is available to clear it.
A bank decline is not the end of the process. It is the point at which alternative and private lending becomes relevant. B lenders apply broader guidelines than the major banks, and private mortgages look primarily at the equity in the property. Both are usually short term solutions meant to get you back to conventional financing, and we walk through the trade offs honestly.
Neighbourhoods We Serve Across London
Each part of the city has its own housing stock, buyer profile and financing patterns.
Old North and Masonville
Old North, Masonville, Western University, Richmond Row
The Western belt, where student rental demand is steady and converted houses are common. Whether a suite is legal and documented changes the financing more than almost anything else on the file.
Old South and Wortley Village
Old South, Wortley Village, Horton Street, Thames River
Heritage character homes on mature streets. Renovation financing and equity access are common here, often on older properties where a bank hesitates on the age of the wiring, roof or foundation.
Byron and Riverbend
Byron, Riverbend, Oakridge, Warbler Woods, west London
Established and newer west end family neighbourhoods at the higher end of the market. Owners here are frequently equity rich, which makes refinancing a practical route when a bank declines on ratio grounds.
North London and Sunningdale
Sunningdale, Fox Field, Hyde Park, Stoney Creek, north end
The city's main new build growth corridor. This is where the 2026 HST rebate is most relevant, and where new build and closing financing gaps show up most often.
South London and Talbot Village
Talbot Village, Westmount, Lambeth, White Oaks, Summerside
A broad mix from newer subdivisions to the city's more accessible family streets. Debt consolidation and refinancing to manage monthly cash flow are frequent conversations here.
East London and Fanshawe
Argyle, Glen Cairn, Huron Heights, Fanshawe College, east end
The most accessible entry point in the city, and where first time buyers and investors are most active. Student rentals near Fanshawe and multi unit properties are common files here.
What We See Every Week in London
Patterns we encounter regularly across London and Middlesex County.
Rebate Cash Flow Surprises
New build buyers assume the HST rebate is credited at closing, then find they need to fund it themselves and recover later. That gap can derail a down payment plan days before closing.
Student Rental Income Structured Wrong
A buyer counts on income from a suite near Western or Fanshawe that turns out to be undocumented or not permitted. The approval shrinks at the worst possible moment.
Self Employed Declines
Contractors and small business owners make up a large share of our declined by bank files, with income that is real but does not present the way an underwriter needs it to.
Buyers Relocating from the GTA
London's pricing draws buyers from more expensive markets, often carrying GTA debt loads. That combination can fill a bank's debt ratios even on a much cheaper home.
Renewal Payment Shock
Homeowners who took mortgages during a very different rate environment are reaching renewal and finding the new payment materially higher. They do not have to accept the offer in front of them.
Behind and Out of Time
Homeowners who have missed payments and received notice from their lender frequently wait too long before reaching out. Options narrow the further into the process you get.
Mortgage Broker vs Bank in London
The difference is not that one is always better. It is that they operate under different constraints.
Going directly to your bank
- One lender, its own products only
- A decline usually ends the application
- Self employed income can be hard to document to their satisfaction
- Suite and rental income often not credited
- Fixed debt servicing thresholds with no flexibility
- Equity based lending generally not offered
Working with a broker
- Multiple lenders across bank, alternative and private channels
- A decline at one lender simply moves the file to the next
- Programs designed for self employed and non traditional income
- Lenders that credit documented rental income properly
- Lenders available with broader debt servicing guidelines
- Equity based lending through private lenders
If your file is clean and your bank gives you a competitive offer, take it. Where a broker earns their place is when the file is not clean. Every initial consultation is free and comes with no obligation.
Do You Qualify?
If any of these describe your situation, it is worth a conversation.
- You own a home anywhere in London or Middlesex County
- You have been declined by a bank or credit union
- You are self employed and your reported income does not reflect what you earn
- You are buying a new build and need to plan around the HST rebate
- You own or are buying a property with a rental or student suite
- You are relocating to London from a more expensive market
- Your credit has been damaged by a proposal, collection or late payments
- You have equity in your home but cannot access it traditionally
- You are behind on mortgage payments or property taxes
- You are carrying high interest consumer debt alongside your mortgage
Equity is the most important factor for private and alternative lending, and credit score matters far less than most people assume. If you need funds but do not want to touch a good first mortgage, a second mortgage leaves the first in place. Use our home equity calculator to get a sense of what you may have available.
The London Market at a Glance
London has been one of the more affordable major markets in Ontario for several years, sitting roughly a third below GTA pricing and about $100,000 below the national benchmark. The average sale price across the London and St. Thomas board area was recently around $662,000, while the MLS benchmark for a typical home sat closer to $570,000. Single family homes have been averaging near $724,000, townhouses around $476,000 and apartments around $358,000.
Sales have climbed for several consecutive months, but buyers still hold the advantage, with the sales to new listings ratio sitting in buyer favouring territory and inventory remaining ample. Prices are well below the early 2022 peak, and the recovery here has been slower and steadier than in many Ontario markets. Knowing how much equity you have is one thing. Knowing which financing products are actually accessible to you, based on your property, your income and your credit profile, is another. That is the part we walk through with you.
Sources: London and St. Thomas Association of REALTORS and MLS HPI reporting. Figures update monthly and reflect the most recent reporting period.
London Neighbourhoods We Serve
From the heritage streets to the north end growth corridor and out into Middlesex County.
Old North
Old South
Wortley Village
Masonville
Byron
Riverbend
Oakridge
Sunningdale
Hyde Park
Talbot Village
White Oaks
Lambeth
Buying or Refinancing in London?
Speak with a licensed Ontario mortgage agent. We compare lender options and help homeowners, buyers and investors across London and Middlesex County find financing that fits their situation. Every initial consultation is free and comes with no obligation.
Apply Now Call 1-855-242-7732London Mortgage Questions
The questions London homeowners ask us most often.
Can I get a mortgage in London with bad credit?
Yes, in many cases. Alternative and private lenders place far more weight on the equity in your property than on your credit score. A collection, a consumer proposal, or a history of late payments will usually end a bank application, but it does not automatically end the conversation with a private lender.
What matters most is how much equity you hold and whether there is a realistic path back to conventional financing. Read more on our bad credit mortgage page.
How does the 2026 HST rebate work on a new build in London?
Ontario's enhanced New Housing Rebate, together with the federal top up, can return the full 13 percent HST on a qualifying new home valued up to $1 million, to a combined maximum of $130,000. Your agreement of purchase and sale generally needs to be signed between April 1, 2026 and March 31, 2027, and the home must be your primary residence.
It applies to newly built or substantially renovated homes only, since resale homes do not carry HST. The maximum applies at the $1 million price point, so on a typical London new build the rebate is proportionally less. Confirm your eligibility with the CRA, your builder and your lawyer.
Do I have to pay the HST at closing and get it back later?
It depends on your builder. Many builders credit the rebate at closing so you never front the cash. Others do not, which means you fund the HST on closing day and recover it afterward.
That distinction can involve tens of thousands of dollars, and it can affect whether you clear a 20 percent down payment and avoid mortgage default insurance. Bring us your agreement of purchase and sale before you firm up so the mortgage is structured around how the rebate actually lands.
Can rental income from a student suite help me qualify?
Often, yes, but only if it is properly documented. Lenders treat a legal, permitted unit very differently from an informal suite. Declared, provable rental income can meaningfully increase what you qualify for, while an undocumented suite is frequently ignored entirely.
Before you make an offer near Western or Fanshawe, confirm the unit is permitted under City of London zoning and that it meets the required safety standards.
What areas of London do you serve?
All of it, plus Middlesex County. Old North, Old South and Wortley Village, Masonville, Byron, Riverbend, Oakridge, Sunningdale, Hyde Park, Talbot Village, White Oaks, Lambeth and the east end, along with Strathroy, Komoka, Kilworth, Ilderton and Dorchester. Consultations can be done by phone or video, so you do not need to travel to an office.
I am self employed in London. Why do banks keep declining me?
Because banks generally underwrite from your notice of assessment. If you write down income legitimately through your business, your reported income can look far lower than what you actually take home. That gap is the problem, not your ability to pay.
Certain lenders accept bank statements, contracts and other documentation instead. See our self employed mortgage options page for more.
Can I refinance my London home if my bank said no?
Often, yes. A bank decline is a decision against that bank's internal guidelines, not a judgment on your property or your ability to repay. Alternative lenders apply broader criteria, and private lenders lend primarily against equity.
The right question is not whether refinancing is possible, but what it will cost and whether it moves you forward. We go through that honestly before you commit to anything.
How much equity can I access on a London home?
As a general guideline, up to 80 percent of your home's value, counting first and second mortgages combined. So if your home is worth $600,000 and you owe $360,000 on your first mortgage, there may be room to access additional funds.
The exact amount depends on the lender, the property and your overall situation.
My mortgage renewal is coming up. Do I have to accept my lender's offer?
No. A renewal letter is an offer from one lender. You are free to compare and move your mortgage to a different lender at renewal, and renewal is the easiest time to do it because there is usually no prepayment penalty.
Many London homeowners sign the renewal without comparing simply because it is the path of least resistance.
Can I get a mortgage if I owe property taxes or CRA debt?
Yes. Tax arrears will generally stop a bank application, but private and alternative lenders regularly fund files where the proceeds are used to clear the arrears. See property tax arrears and Revenue Canada debt for more detail.
What does a consultation cost?
Every initial consultation is free and comes with no obligation. If we proceed to arrange financing, any costs associated with the mortgage itself are disclosed to you in writing before you commit to anything.
Talk to a London Mortgage Broker
Whether you are buying a new build up north, financing a student rental near Western, or trying to make self employed income work for a lender, the first step is the same. Tell us what is going on and we will tell you honestly whether we can help.
Apply Now Book a ConsultationOr call 1-855-242-7732
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