Lotly

Smarter Loans Expert Review for Lotly

Reviewed by: Vlad Sherbatov, Mortgage Finance Analyst at Smarter Loans

Our Take

Lotly is a Canadian home-equity–focused lending platform built around advice, negotiation, and long-term financial outcomes. Rather than offering a single loan product, Lotly works with multiple trusted lenders to structure secured personal loans, home equity loans, secured lines of credit, and mortgage refinances that fit a homeowner’s full financial picture.

What differentiates Lotly is its advisory approach. The team takes time to understand credit challenges, side-gig or variable income, and complex household situations, then negotiates with several lenders on the borrower’s behalf. With loan amounts starting around $15,000 and extending into the millions, Lotly operates squarely in the asset-backed space, where rates are meaningfully lower than unsecured alternatives and payments are more manageable.

This is not fast emergency cash. It is strategic financing designed to replace expensive debt with stable, lower-cost solutions.

Who Lotly Works Best For

Lotly works best for Canadian homeowners who want to consolidate high-interest debt, refinance existing mortgages, or access equity for major financial goals. It is especially helpful for borrowers who have been declined by banks due to credit issues, non-traditional income, or complex circumstances but still have meaningful equity in their home.

It is a strong fit for households juggling multiple debts such as credit cards, installment loans, or lines of credit and looking to simplify into a single, lower payment. Entrepreneurs, self-employed individuals, and families with variable income often benefit from Lotly’s more flexible underwriting approach.

Lotly is less suitable for renters, non-homeowners, or borrowers who need very fast funding for small, short-term expenses.

What We Like

The advisory and negotiation model stands out. Lotly does not simply route applications to one lender. Advisors actively shop and negotiate across multiple options to find the best structure a borrower can qualify for, which can materially improve rates and terms.

We also like the focus on long-term financial health. By prioritizing consolidation and secured lending, Lotly helps borrowers reduce monthly payments and interest costs rather than layering new high-interest debt on top of existing balances.

Rates typically ranging from about 6% to 16% are competitive for secured lending, particularly compared to unsecured personal loans. Flexible repayment options, including bi-weekly or monthly schedules, add further practicality.

Where Lotly Could Improve

Speed can be a limitation for some borrowers. Funding often takes over a week, which is reasonable for equity-based lending but slower than unsecured or short-term options.

Because solutions are secured, there is inherent risk. Borrowers must be comfortable using home equity and understand the long-term implications, including the impact on total interest paid and estate planning.

Documentation requirements are also more involved, including mortgage statements and property assessments, which may feel cumbersome compared to fully digital unsecured lenders.

Is Lotly Right For You?

Lotly is an excellent option if you own a home and want to reduce high-interest debt, stabilize cash flow, or refinance strategically rather than borrow reactively. It works best when you are thinking months and years ahead, not days.

If you qualify for straightforward bank refinancing, that may be simpler. But if your situation is more nuanced and requires advocacy, flexibility, and lender negotiation, Lotly provides a thoughtful, homeowner-first approach.

Used correctly, Lotly can help Canadians turn home equity into a tool for financial stability rather than a source of stress.

Alternatives to Lotly

• 8Twelve Mortgage