What is it?

There are lots of reasons why people end up with bad credit. Sometimes it’s because they have defaulted on a loan or missed a credit card payment. Sometimes it’s because they have been financially unlucky. Sometimes it’s a result of corporate errors on a credit report.

Bad credit is endemic these days. Indeed, very few people actually know what their credit score is or if it needs to repaired. In the simplest terms, your credit rating is a number on scale that indicates your capacity to repay any money you might borrow in the future or have borrowed in the past. It may or may not accurately reflect your current financial standing, and it may give a fair account of your ability to earn and repay money in the coming years.

If you want to get hold of your credit rating - in order to find out what it will take to improve your chances of securing a loan - you can get a copy of your own credit report for free. The two main credit bureaus in Canada are called Equifax and Transunion. Both will provide your own credit report to you for free once a year.

However you earned a bad credit rating, we’ll help you fix it. We can do that by identifying errors and inaccuracies on your report, or by re-evaluating your overall financial situation. Then we develop a plan to improve your credit. This is a process the team here at Rala has a lot of experience in.

Our Process

Our Guarantee

Same Day Approval

As soon as your loan is approved, we will ensure the money is transferred to your lawyer straight away so that you don’t face any unnecessary delays.

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.

Testmonials

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

Same Day Car Loan With Bad Credit

Fiona is a single mother in her early fifties. She wants to but a compact car that she can share with her oldest daughter, who is in full-time study. Fiona has good overall finances - she had been steadily employed for more than a decade. However, her credit score is bad because - a number of years ago and for a variety of reasons - she was forced to file for bankruptcy. Despite the fact that the bankruptcy is well in the past, her poor credit score has made it difficult for her to secure a loan to buy a new car. That’s when she decided to contact Rala.

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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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Frequently
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.

I have recently filed for bankruptcy - can I still get a loan?

Yes, you can still get a loan, although it will depend to some extent on the number of times you have filed for bankruptcy and when your last bankruptcy case was. We have connections with several groups of lenders who will give you a loan, depending on the circumstances of your bankruptcy.

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!

Consultation Form
Talk to us ( 604-229-4899 )