Oak Bay stands as one of British Columbia’s most distinguished residential enclaves, where Tudor-style homes meet Pacific waters and property values reflect decades of careful community stewardship. This isn’t your typical Victoria suburb—it’s where BC’s old money settled and where new wealth continues to gravitate.
The numbers tell a compelling story for mortgage professionals. With a median household income of $107,000 and 64% of residents holding bachelor’s degrees or higher, Oak Bay attracts educated professionals who understand real estate as wealth preservation. The community’s median age of 54.4 years signals established homeowners with substantial equity, creating opportunities for refinancing, renovations, and estate planning moves that don’t fit traditional lending boxes.
What makes Oak Bay particularly interesting is its resistance to Vancouver’s condo fever. Single-detached homes still dominate at 63% of the housing stock, while apartments under five storeys account for just 22.2%. This housing mix creates a unique lending landscape where equity positions tend to be substantial and properties hold their value through economic cycles.
The famous Oak Bay Beach Hotel and the community’s yacht clubs aren’t just amenities—they’re economic anchors that maintain property desirability. When retirees from across Canada scout Victoria area communities, Oak Bay consistently tops their lists. The Uplands Golf Club and proximity to Cadboro Bay create lifestyle appeal that translates into market stability.
For mortgage brokers, Oak Bay represents clients who often need creative solutions. Whether it’s bridge financing for downsizing moves, equity access for adult children’s home purchases, or consolidation loans for investment property acquisitions, these homeowners have options that income-qualified products can’t always accommodate.
Tekamar offers 60% LTV in Oak Bay, recognizing both the community’s premium market position and the liquidity advantages of Victoria-area real estate. Our equity-based approach aligns perfectly with a community where assets often speak louder than T4 slips.
Local Hospital
Our Mortgage Products Available in Oak Bay
| Mortgage Product Name | Max LTV | Key Notes for Oak Bay |
|---|---|---|
| Credit Repair and Debt Consolidation | 60.0% | Standard product terms |
| Variable Income | 60.0% | Standard product terms |
| Bare Land and Unique Properties | 60.0% | Standard product terms |
| Bridge Financing/Fully Open Term | 60.0% | Standard product terms |
| Equity Lending | 60.0% | Standard product terms |
| Purchases | 60.0% | Standard product terms |
Detailed Mortgage Product Information
Credit Repair and Debt Consolidation
Maximum Loan-to-Value (LTV) for Credit Repair and Debt Consolidation in Oak Bay:
60.0 %
“Their credit report reads like a horror novel, but the house was just renovated and is worth a lot…”
Here’s what happens when life takes a wrong turn. A bad business venture. Workplace Injury. That divorce that dragged on for two years. Suddenly your credit score looks like a batting average and the banks won’t even return your calls.
But here’s the thing – none of that changes what your ho...
Variable Income
Maximum Loan-to-Value (LTV) for Variable Income in Oak Bay:
60.0 %
“Their income is all over the map, but there’s definitely income…”
Here’s a funny thing about lending based on Line 15000 of your Notice of Assessment: It’s a neat little box to underwrite against. Works great if you’re a salaried employee. Not so great if you’re running a fishing charter in Campbell River where thres fishing season, and the rest of the year.
We get it. Income isn’t always ti...
Bare Land and Unique Properties
Maximum Loan-to-Value (LTV) for Bare Land and Unique Properties in Oak Bay:
60.0 %
“The appraisal came back as ‘property type: other’…”
Here’s a truth about real estate that nobody wants to admit: not everything fits in a box. Banks have boxes. Nice, tidy boxes labeled “single family home” and “condo” and “townhouse.” Their computer systems literally don’t have a dropdown menu option for “converted church with commercial kitchen” or “geodesic dome on 40 acres.”
We’ve funded...
Bridge Financing/Fully Open Term
Maximum Loan-to-Value (LTV) for Bridge Financing/Fully Open Term in Oak Bay:
60.0 %
“Subjects came off their current home last week but their new place closes Friday…”
Here’s a funny thing about bridge financing: everyone thinks it’s complicated. It’s not. Someone needs to close on their new house before their old house sells. Or their sale fell through after they removed subjects on their dream home. Or they found the perfect downsizer condo but haven’t listed the family hom...
Equity Lending
Maximum Loan-to-Value (LTV) for Equity Lending in Oak Bay:
60.0 %
“They have tons of equity but don’t qualify under B20…”
Here’s the thing about equity lending: it exists because banks literally can’t do it. B20 guidelines require income verification. Full stop. No wiggle room. No common sense exceptions.
We’re provincially regulated. The funds we lend on come from individual investors, not the Bank of Canada. So when your client has 50% equity but their in...
Purchases
Maximum Loan-to-Value (LTV) for Purchases in Oak Bay:
60.0 %
Moving is supposed to be exciting. New town, new job, new chapter. So why do banks act like you’re asking for their firstborn when you need a mortgage?
“You haven’t been at your new job for thre months”
“Your self-employment income doesn’t count in a new market.”
“We need to see established a year if you are part time contract - even if you’re working 40 hours under your new role”
Meanwhile...