Oak Bay

If you’ve ever driven through Oak Bay, British Columbia, you’ve probably noticed the tree-lined streets and the kind of charm that makes you slow down just to take it all in. Nestled just east of Victoria, this isn’t your typical small town—it’s a hidden gem with a vibe that’s equal parts sophisticated and laid-back. For mortgage brokers and borrowers alike, Oak Bay offers a unique slice of the BC real estate pie, and at Tekamar Mortgage Fund, we’re excited to be part of it with our “We’ll lend where other MICs won’t” approach.

What sets Oak Bay apart? For starters, it’s got a waterfront allure that’s hard to beat. Think sailing at the Oak Bay Marina or catching a glimpse of whales right from the shore. This isn’t just scenery—it’s a lifestyle draw that keeps property values steady, even in choppy markets. For brokers, that means deals here often have a built-in safety net of demand, especially from retirees and lifestyle buyers. And for borrowers, if you’ve got equity in an Oak Bay property, that’s a strong starting point for a conversation with us about creative financing solutions.

Let’s talk numbers, but not the boring kind. Oak Bay’s housing stock leans heavily on single-detached homes—over 60% of properties fall into this category. That’s a big deal in a province where condos and high-rises often dominate. It means more opportunities for equity lending, especially for those who might not tick every box on a bank’s income or credit checklist. At Tekamar, we cap our loan-to-value ratio at 60% in Oak Bay, which keeps things safe for us and our investors while still giving room for deals that make sense. Brokers, if you’ve got a client with a solid property but a messy credit story, give us a call—we love finding exits that work. Borrowers, if you’re sitting on equity here, we’re all ears.

Another thing about Oak Bay: its demographic skews older, with a median age north of 50 and a hefty chunk of residents over 65. That’s not a downside—it’s a signal of stability. Many folks here are settled, with deep roots and paid-down mortgages. For mortgage pros, this can translate to second mortgage opportunities or inter alia deals for estate planning. And if you’re a borrower in this boat, we get it—sometimes life throws curveballs, and tapping into home equity can be the smartest play.

Don’t sleep on the community feel, either. Places like Willows Beach aren’t just pretty—they’re where locals gather, building a tight-knit vibe that’s rare in bigger centers. That sense of belonging adds intangible value to properties, something appraisers might not capture but buyers absolutely feel. It’s why we’re keen to lend in spots like this across BC (outside Vancouver and Fraser Valley, of course). We look at the big picture—how long it’d take to recover funds in a worst-case scenario, factoring in interest and sale timelines.

So, whether you’re a broker scouting for a lender who gets small-town dynamics or a borrower looking for an alternative to the big banks, Oak Bay is on our radar at Tekamar. We’re not just another MIC; we’re the one that says yes when others hesitate. Got a deal or a dream in Oak Bay? Let’s chat.