Victoria

So, let’s talk about Victoria, British Columbia—a city that’s got charm in spades and a real estate market worth paying attention to. Nestled at the southern tip of Vancouver Island, Victoria isn’t just the provincial capital; it’s a unique blend of old-world vibes and modern appeal that draws everyone from retirees to young professionals. As someone who’s seen a lot of BC markets, I can tell you Victoria stands out, and at Tekamar Mortgage Fund, we’re excited to lend here with a maximum loan-to-value (LTV) of 70%. Whether you’re a mortgage broker hunting for a flexible lender or a borrower needing an alternative financing option, let’s dive into why Victoria might be your sweet spot.

First off, what makes Victoria different? It’s not just the mild climate—though with a plant hardiness zone of 9a, you can grow stuff here that would wither elsewhere in Canada. It’s the lifestyle. Think oceanfront walks, historic architecture, and places like Butchart Gardens that remind you why people pay a premium to live here. For borrowers, that translates to property values with staying power, even when markets wobble. And for brokers, it means deals in Victoria often have a built-in safety net—high desirability ensures quicker resales if things go sideways.

From a mortgage perspective, Victoria’s housing mix is a goldmine for creative financing. Nearly half the dwellings are apartments in low-rise buildings, with a decent chunk of duplexes and row houses thrown in. That’s not the cookie-cutter suburban sprawl you see in other BC spots. For borrowers, it means options if you’re looking at equity lending or debt consolidation on a non-traditional property. Brokers, you’ll appreciate that we at Tekamar are open to these kinds of deals—first and second mortgages, odd properties, you name it—as long as there’s a clear exit strategy and we’re within our LTV comfort zone of around 60-70% here.

Economically, Victoria’s got legs. It’s not tied to one industry—government jobs, tourism, and professional services keep things humming. That diversity matters when you’re lending, as it lowers the risk of a local downturn tanking property demand. I’ve seen markets collapse when a single sector stumbles, but Victoria’s spread-out economy offers resilience. For a borrower, that’s peace of mind knowing your investment isn’t at the mercy of one bad season. And brokers, it’s a selling point when pitching us a deal—Victoria’s stability aligns with our cautious approach of protecting principal for our friends-and-family investors.

Let’s not forget the people factor. With a median age over 40 and a hefty senior population, there’s a steady stream of folks looking for vacation homes or downsizing options. That demand keeps the market ticking. Plus, cultural gems like the Inner Harbour add an allure that’s hard to replicate in smaller BC towns. At Tekamar, we love lending where others won’t, but Victoria’s a no-brainer—we’re all in on this market. So, if you’re a broker with a client who doesn’t quite fit the bank’s mold, give us a call. And borrowers, if you’ve got equity in a Victoria property but need a non-income-qualifying solution, we’re here to chat.

Bottom line? Victoria isn’t just pretty—it’s practical. With Tekamar’s focus on safe, equity-based lending outside the Vancouver bubble, we’re ready to partner on deals that make sense. Got a property in mind? Let’s make it work.