As I sit and watch the sun setting on another beautiful day in Muskoka, barbecues scenting the air, families and friends reveling in the end of the day, I can’t help but think about not only what brought me here, but also about what brought and can bring more families to this region, this life.
I was introduced to mortgage lending shortly after my time at Acadia University where I studied and competed in athletics. I was craving some form of competition within the business environment and from what I gathered from friends and family, I was looking for a commission-based or sales-driven industry. I had a passion for real estate as a child – growing up, I read everything I could on creating a combination of security and wealth and dreamt of an entry into the industry. With a finance background and a father who I idolized and who created an amazing life for his family, climbing the ranks from door-to-door sales to an executive at a big bank, I wanted to combine these passions, traditions, and real estate into a competitive work environment.
My mother had met some bank mortgage specialists and told me about them. They had been a fairly young, fun, and competitive group, driven by real estate and helping others finance it. I had a contact in the industry that gave me a chance to work under his leadership and with him started my journey doing mortgages in Toronto.
Never did I believe that those affections and a few lucky bounces would lead me to where I am now. But I couldn’t possibly be happier with my journey, and the opportunity to help other families realize their dreams.
I started off financing pre-sale condo development funding thousands of units across Toronto. Over time, with some strategic and at times serendipitous relationships, I got into more creative credit structuring for high-net-worth clients and sports professionals, carving out a niche that still exists today: financing luxury real estate. It’s a combination of financing larger mortgages, largely over $1M, using intuitional capital, creative programs like High Net Worth Lending and Business for Self, a lot of construction financing and renovation financing (especially in Muskoka) along with access to the alternative and private markets for short-term credit solutions. Lending changes on a regular basis and a major competitive advantage in the broker space (compared to working at a singular bank like I used to do) is access to many lenders and different capital sources.
My team, The Westlake Team (TWT), part of Dominion Lending Centres National, is a group of 50-plus mortgage agents that service Canadians with more “regular mortgage solutions.” These are the more typical day-to-day mortgages for first-time buyers, renewals, refinances, and helping new Canadians with their mortgage needs, among other endeavours. The separation between the work I focus on and my team is just a specialization that takes time to build over the years, but one that provides clients with a singular and specific understanding of a complicated market. Our main office is located in Oakville, with two others in Toronto and Muskoka. To keep me sharp, I also coach a handful of high-producing mortgage brokers on a quarterly basis.
My entry into the Muskoka market started when I purchased a place in Port Carling; a smaller cottage, on a great lot, terrific location minutes outside town, and all the amenities. I spent a significant amount of time relaxing away from the hustle and bustle of the city while having the opportunity to meet many local small businesses, realtors, builders, lawyers, and the like – all of whom play crucial roles in bringing dreams and dreamers to the region. I soon realized there is great value in understanding the area and uniqueness of these properties and became very knowledgeable on how to finance them. There is added value with a significant amount of purchasers and owners living between Toronto and Muskoka and I can support their financing needs from either location, which our clients and referral sources love.
During the pandemic, business changed for everyone, including our mortgage team. We were fortunate that we had a strong digital footprint from the perspective of being able to communicate with our clients and referral sources, and have a very robust secure online application system that takes our clients from application through funding, all electronically. Armed with a lot of great referral sources and a brokerage that was likely first to market on how we would conduct business, we saw what become, arguably, the best 24 months in the real estate and mortgage business. Moving into this next genre of challenges, faced with inflation, higher rates, and harder qualifications, we realize the importance of being more available to a broader audience and helping more Canadians with their mortgage needs, and are working closely with groups like Cayman Marshall to expand our digital marketing footprint and hopefully clients and referral sources in years to come.
To contact Scott visit scottwestlake.com or email scott@thewestlaketeam.com
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Scott Westlake has funded well over $1B in mortgage origination and counting. He has coached and trained another $1B in mortgage agents/brokers and is a multiple industry award winner actively involved in The Oakville Hospital Foundation and supports Brokers Who Care, Golf Canada Foundation, Habitat for Humanity, Kerr Street Mission, Zonta International, and Radius Child & Youth Services.
Scott Westlake & The Westlake Team (TWT) are part of Dominion Lending Centres National, FSRA 12360, Independent Owned & Operated.
