Turned down by your bank? Good. This alternative puts you in a better financial position.

It’s time to get real. You’ve been in a committed relationship with your bank for awhile. While you’ve been loyal and optimistic with your bank—trusting them with your family’s future, your kids’ education, your home, and more—you’re not feeling the same level of dedication. Well, you’re right.



Despite the fact that your interest rates and account fees delivered bank CEOs their most profitable years in history over the past decade, Canadian banks have absolutely no interest in rehabilitating your credit or putting you on a better financial path.



At a big Canadian bank, there’s no care or concern for your unique situation—whether it’s a much-needed renovation or another unforeseen expense. You’re constantly hearing ‘no,’ or the occasional ‘yes’ tethered to interest rates that stretch your budgets every month.

Canadian Mortgage industry


You’re not alone. If you’re one of the thousands of ambitious, entrepreneurial, and self-employed Canadians, if you’re currently between jobs, or if you’re working your way out of a less-than-perfect credit history, your bank has essentially written you off.

As a homeowner, you know all about home equity—that’s why you bought your home in the first place—you might not know that this valuable asset is exploited by your bank, to their benefit, and at your cost.

We’ll explain below how to avoid more hassles with your bank, accomplish your immediate financial goals, and set you on a better financial path for the long-term.

The top three tactics Canada’s big banks use to prevent you accessing your home equity

Your bank doesn’t want you to access your home equity unless it’s sure to benefit them. Here are the top 3 tactics they’ll use to try to prevent you from doing so:

      1. Charging you hefty fines and/or penalties if you break your mortgage early.

      1. Using the new stress test as a barrier—with much higher income requirements that increase your borrowing rates, or prevent you from borrowing at all.

      1. Preventing you from borrowing from other lenders by locking you into a collateralized mortgage. (You can read all about this and the 6 things about your personal finances that impact your borrowing options here.)

    Despite the fact that you’ve built equity paying down your mortgage—and regardless of massive market growth boosting your home value—it’s not easier to access money from your bank, or even get the best rates from them.

    Instead of feeling discouraged, know that you have options, and you can access your home equity in a reasonable and financially-smart way.

    So what do you do if you need money today?

    Cannect was founded to help Canadian homeowners like you. At Cannect, we work to understand your unique situation. Together, we’ll design a flexible, affordable, and long-term solution to put you on a better financial path.

    It all starts with a CannectFlex loan, which couldn’t be more different than other private lenders.

    CannectFlex is a reasonably priced, flexible loan that gives you access to money today without putting you in a difficult financial situation tomorrow. In fact, 70% of CannectFlex customers have gone on to renew their mortgage at a lower interest rate than they have today! When have the banks ever offered you that?

    Ready to take the next step with your home financing?

    Get started with a free home financing quote now to compare your borrowing options or call us at 416.766.2666 to review your options today.

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