Bad Credit Second Mortgage - Rala Investment Ltd. - Servicing British Columbia

What Is Bad Credit Second Mortgage?

A second mortgage is a loan you take out against the value of your home on top of your first mortgage. One of the benefits of a second mortgage is that it enables you to access the equity in your home, the market value of which may have increased significantly since you initially purchased it.

There are a couple of advantages to having a second mortgage. They free up significant amounts of capital, for one thing. Second mortgages are secured against the value of your home, which - these days - is likely to be worth hundreds of thousands of dollars. That means it will provide you with a lot of collateral. The exact amount you are able to borrow with a second mortgage will vary according to your lender. In some instances, second mortgage loans can total up to 70 percent or 80 percent of your home’s value.

The chief disadvantage of a second mortgage, however, is the risk of foreclosure. You have put your house up as the guarantee of your credit: if you cannot repay your debt, you risk losing your house. It’s important to be clear about the risks involved in a second mortgage.

In British Columbia, mainstream lenders - namely, major banks and other large financial institutions - are not generally interested in second mortgages, which means that the bulk of second mortgage deals are provided by private lenders. Our extensive network of trusted lenders enables us to find you the best private lenders in Vancouver and throughout the province.

Our Process

Our Guarantee

No Charge Until The Deal Is Done

Because we value our customers, you won’t face any charges until your loan agreement is fully approved and the loan is already on its way to your account.

Charge Based On Risk, Not Lender’s Fee

Unlike other mortgage brokers, who aren’t always completely upfront, our charge is based on the risk associated with your loan, not on any undeclared finder’s fees.

No Undisclosed Lender’s Finder Free

We offer a service that is totally transparent and, as far as possible, operates in consultation with you, which is why we will never impose undisclosed finder’s fees on you.

No Financial Product Up-Selling

Our approach to business is based on trust and integrity, so we won’t try to attach any financial products to your loan agreement that you don’t need.


Christian Noel

An absolute pleasure to deal with. Answered questions day and night and made the whole process of getting a mortgage for my rental property as painless as possible. I was able to focus on hiring a Richmond rodent control team. painters and cleaners to finish up the property. We highly recommend working with Allan and will definitely be returning when it's time for renewal. Thanks again Allan for all your help!

Cristian Bishop

Allan delivers exemplary service. His incisiveness and attention to detail really helped me to secure a private mortgage that was better than any bank offered. He was able to make time for me with my busy schedule as a roofer in Maple Ridge to go through a number of papers and documents that I need to sign and simplified for a person like me. His service did not stop after the mortgage closed but he continues to be helpful and understanding to this day. I would recommend him to anyone.

Ebonie Wiley

I would highly recommend Allan. He is hard-working, very responsive to all emails and phone calls, honest, easy to work with, and trustworthy. As a pest exterminator in Coquitlam, I don't always have a lot of free time. Allan helped with the whole process. He offered a fast turnaround and excellent rates. If you are considering using a mortgage broker service, do not look any further. Simply put, I will never use a different mortgage broker again.

Anna Myers

After having dealt with different mortgage brokers for my bad credit mortgage issues, I have to say Rala investments had the quickest and the easiest process to deal with. There was never the problem of them requesting documents repeatedly from me after every process. Everything was done in a single shot and I was given regular updates on the progress. The service was prompt and quick.

John Alexander

Thank you Allan for helping me throughout my mortgage process. Your straight forward and balanced opinions gave me a sense of security and confidence. I also have to mention how quickly you responded to my queries and requests even on your days off. I will definitely recommend your service to my friends and family.

Case Studies

Loan for starting a business with Bad Credit

John has spent the bulk of his working life in the transport sector. But he recently retrained so he could get a new job in manufacturing. The shift has been really positive for him, and his new experience has given him a business idea. John’s dream is to run his own company, so he started putting together a blueprint for his own small business.

Read More
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Asked Questions

Can I get a mortgage with bad credit history?

It can be very difficult to find a mortgage with a poor credit history. The reason for this is that the majority of mainstream lenders make little effort to understand an applicant’s unique circumstances, so they will deny a mortgage application based on credit scores alone.

At Rala, we make a concerted effort to understand the specific circumstances of each applicant, which allows us to set our customers up with lenders who are likely to be much more open to authorizing a loan request. The result is that our clients not only secure access to finance but benefit from the professional advice we can provide regarding their financial situation.

Can I get a mortgage with current bad credit score?

A poor credit rating doesn’t stop you from getting a mortgage. Mainstream banks won’t grant you a mortgage because they believe your risk level is too high.

But here at Rala, we have built up a big network of lenders who will facilitate a loan for you regardless of your credit history. Your credit rating will affect the size of your downpayment, as well as the interest you pay to the lender. Contact us now if you have a bad credit rating but are looking of a loan.

I have bad credit rating - how do I find the best mortgage deal?

It’s not just that you can still get a mortgage deal with a bad credit rating, you can still get a good mortgage deal with a bad credit rating. It’s true that a bad credit score will hike your risk factor and can affect your mortgage rates.

But here at Rala, we have developed such a wide network of lenders as a result of our many years in the industry, that we'll quickly find the right lender for your case. The key to our success is assessing a whole variety of factors before finding our clients the best mortgage deal.

How does Rala charge its clients?

Rala has a total commitment to transparency and honesty. We will provide straightforward, simple solutions to our customers, designed to provide you with a clear remedy to your problem.

We only charge based on the risks associated with the loan agreement and based on the loan deal. We won’t hit you with hidden finder's fees.

What’s the difference between mortgage brokers and lenders?

A mortgage broker acts as the go-between for a lender and a borrower, meaning they facilitate agreements between you and your bank or mortgage lender. They also do the legwork of searching for the best mortgage product and interest rate for you. The lender provides the funding for your loan.

Why should I go to a mortgage broker first?

According to one study, 39 percent of first-time home buyers don’t understand what brokers do. However, there are good reasons to contact a broker before you attempt to buy a house.

Mortgage brokers simplify the home buying process and help ensure that you don’t spend large amounts of money for no good reason. Mortgage brokers will help you get lower interest rates, improve your access to loans, give you the benefit of their experience, and always work on your side.

Consultation Form

Please do not hesitate to contact us by phone to discuss your situation. Rala Investments Ltd. provides first, second and third mortgages on all types of properties anywhere in British Columbia. We also arrange mortgages on partial interests in property. For a no obligation consultation, please call us today!

    Talk to us ( 604-229-4899 )
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