Questions and answers.
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The product
Who is PrivateLenderDesk for?
Ontario private lenders who administer their own mortgages, personally or through corporations they control, from one active mortgage to 30. It isn’t for administering mortgages on behalf of other investors or clients, and you confirm each mortgage is your own when you add it.
Which provinces does it cover?
Ontario. The enforcement steps, waiting periods and letter templates are written for Ontario mortgages.
What kinds of mortgages does it handle?
Mortgages with monthly payments, either interest-only or blended principal and interest (calculated half-yearly, not in advance), in first, second or third position, to individual or corporate borrowers. A renewal fee can be paid at renewal, added to the mortgage, or owed until payout.
Can I try it without entering my real files?
Yes. In Settings, Add example mortgages puts three made-up files in your account: one current, one in default and one with blended payments. They don’t count toward your plan, and you can remove them whenever you like.
Does it work on a phone?
It’s built for a desktop or laptop screen. On a phone, the sidebar folds into a menu at the top. In Chrome or Edge you can install it as an app with its own window.
Money, borrowers and advice
Does PrivateLenderDesk handle money?
No. It never receives, holds or moves money. Borrowers pay you directly, and payouts go through the lawyer. A payout statement is a calculation for the lawyer to work from.
Does it contact my borrowers?
No. It prepares drafts. You edit each letter, print it or download the PDF, send it yourself, and then mark it sent. Nothing goes to a borrower on its own.
Are payments recorded automatically?
No. You record each payment as it arrives: the date, the amount, how it was paid, and whether it cleared or came back NSF. From that record the app works out what’s paid, what’s missed and how late each payment was.
Is it legal advice?
No. The calculations, rate checks, deadlines and letter templates are tools. The enforcement screen reminds you to get legal advice before each formal step, and every PDF it prepares notes that its figures are calculations, not legal or financial advice.
Your data
Where is my data stored?
In Canada. Your records and uploaded documents are stored in Canada (Central), and the app’s servers run in Montréal.
Can I get my data out?
Yes. Settings has Download backup, a file with all of your records, and you can restore an account from that file. Uploaded documents download one at a time from each mortgage.
How is my account protected?
Every account uses two-step verification: your password and a code from an authenticator app. The database itself refuses to show records to a session that hasn’t passed that step, and each account can only reach its own records.
Plans and the free trial
Do I need a card for the free trial?
No. The trial lasts 14 days with the limits of the Pro plan, and you don’t enter a card to start it.
What happens when the trial ends?
Your records become read-only until you choose a plan. Nothing is deleted.
What counts toward a plan’s limit?
Active mortgages. Commitments that haven’t funded, discharged mortgages and the example mortgages don’t count.
Do the plans have different features?
No. Every plan includes every tool. The plans differ only in how many active mortgages and mortgagees they allow.
What currency are the prices in?
Canadian dollars, plus HST.
The quickest answer is to try it.
Add the example mortgages and click through.