You are here

Royal Bank of Canada scraps limit on size of immigrant mortgages

Wealthy buyers fuelling booming financing business; Vancouver luxury market realtors say over 80% of buyers have ties to mainland China
Thursday, November 5, 2015 - 05:50

RBC removed its C$1.25m cap on loans to borrowers with no local credit history in May, said a director, adding "we're seeing a lot of affluent newcomers looking to buy high-purchase-price homes".


THE Royal Bank of Canada (RBC) scrapped an internal limit on mortgage loan size for immigrants in the spring to tap into surging demand for financing on multi-million-dollar houses by newcomers to Vancouver.

Wealthy buyers, mostly from China, are fuelling a booming

Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom