New Westminster Mortgage Broker

Working with me in New Westminster

In New Westminster it can go any way you prefer — in person, video, or phone.

Documents can still go digital if that is easier, or we meet wherever suits you.

New Westminster, specifically

New Westminster counted 78,916 residents in the 2021 Census, up 11.2% from 2016. Nicknamed the Royal City, it was the first capital of the Colony of British Columbia before the capital moved to Victoria in 1868. It's compact and dense: 70% of households live in apartments (43% across Metro Vancouver), nearly half of all homes are strata condos — the second-highest share in Metro Vancouver — and the city has five SkyTrain stations: 22nd Street, New Westminster, Columbia, Sapperton and Braid.

My mortgage and real estate licences both cover all of BC, so for a home in New Westminster you can come to me for the mortgage and for buying or selling.

New Westminster: older condos, rental rules and Queensborough

A lot of New Westminster's housing is older: 18.6% of homes were built in 1960 or earlier, well above the Metro Vancouver share of 11.5%, and much of the purpose-built rental stock is older too. With an older strata, the documents matter as much as the unit. Since July 2024, BC stratas with five or more lots need a depreciation report every five years (Metro Vancouver buildings without a recent one had until July 1, 2026), and since November 2023 at least 10% of the operating budget has to go into the contingency reserve fund each year. The Form B shows the reserve balance and any special levy already approved; an approved levy that falls due after the sale date is the buyer's to pay, so buyers and lenders both read it.

If you're buying to rent out, New Westminster adds its own layer to provincial tenancy law. Renting out a unit needs a City business licence under the Rental Units Bylaw — the exemption covers an owner who lives on the property and rents up to two units there — and since June 2026 an owner must keep at least one living space in a tenant's unit at a safe indoor temperature (an overnight average of 26°C or lower) from April through October. Six strata buildings carry rental-only zoning, where units can't be owner-occupied, and short-term rentals are allowed only under a bed-and-breakfast licence with the operator living on site.

Queensborough, the part of the city on Lulu Island, sits in the Fraser River floodplain behind about seven kilometres of dikes. New homes there generally need a development permit, the lowest floor with living space has to be at or above the flood construction level (3.53 m or 4.20 m geodetic, depending on the area), and the soil and high water table usually mean pile foundations and geotechnical reports. Confirm the level for the specific lot with the City before you plan a renovation or rebuild.

Growth is concentrated around the five SkyTrain stations, where provincial transit-oriented rules allow up to 20 storeys closest to a station, and the City's housing needs report calls for 8,137 new homes by 2029. The rental market is tight — the City puts the vacancy rate at 0.8% — which is worth knowing whether you're buying to live in or to rent out.

Common questions