VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Neighbourhood Holdings Limited Partnership (“Neighbourhood”), the leading provider of alternative mortgages in Canada, today announced the launch of a unique product in the alternative lending industry - a three year mortgage with rates starting at 5.95%. Aimed at increasing borrower stability, the product will be offered as an interest only or amortized mortgage, with the flexibility to pay out at any time with only a three month interest prepayment penalty.
“We are thrilled to offer this product to Canadians. By extending the industry standard one year term to a true three year term and lowering our rates, we are now able to give borrowers peace of mind with their mortgage, and additional flexibility when it comes to managing their cash flows,” said Taylor Little, CEO of Neighbourhood. “In the shadow of the pandemic, borrowers are experiencing unprecedented uncertainty. We’ve developed this product to help stabilize the industry, and simultaneously address long-standing industry feedback from brokers around the need to close the gap between the B-Lenders and Alternative Lenders. We look forward to bringing this product to market for Canadians across the country.”
Neighbourhood currently offers some of the lowest alternative mortgage rates in Canada, namely in British Columbia, Ontario, Québec, Alberta, Manitoba, and Nova Scotia, while consistently producing strong risk adjusted returns to investors.
Employing a nimble approach to mortgage lending, Neighbourhood embraces the latest industry technologies, and is committed to being at the forefront of the industry’s innovation and diversification.
For more information regarding Neighbourhood’s lending or investment criteria, please contact info@nhlp.ca.
About Neighbourhood Holdings Limited Partnership
Neighbourhood Holdings Limited Partnership (Neighbourhood) is a leading alternative mortgage lender. Neighbourhood leverages the latest industry technology and a transparent, conservative approach to lending capital to deliver fast and competitive short-term financing solutions to Canadians in search of residential properties, while consistently producing strong risk adjusted returns to investors. Neighbourhood currently offers some of the lowest alternative mortgage rates in Canada, namely in British Columbia, Alberta, Manitoba, Ontario and Québec. For more information: www.nhlp.ca
Neighbourhood Media Contact:
Jen Hazell
604-738-2220
jen@talkshopmedia.com