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An inter alia, or blanket, mortgage is a single mortgage registered as security against more than one property at the same time, rather than one mortgage per property. If the borrower defaults, the lender can look to any or all of the pledged properties to recover the debt.
Blanket security gives the lender extra recourse, which can help a borrower qualify for a larger loan, a better rate, or approval when a single property does not carry enough equity on its own. This structure shows up most often in private lending, construction financing, and portfolios of investment properties, where an investor pledges multiple properties as combined security.
Because more than one property is on the hook, discharging or selling any single property in the group usually requires the lender’s consent and often a partial paydown, which adds complexity compared with a second mortgage or single-property loan.
More common with private and investor lending: inter alia structures appear more often with private lenders and multi-property investors than with mainstream single-property residential lending.
Title registration: the mortgage is registered on the title of each pledged property, not just one, which affects each property’s individual discharge process.
Releasing one property is not automatic: selling or refinancing a single property inside a blanket mortgage typically requires the lender’s written consent and a partial discharge.
Often paired with bridge or construction financing: blanket security is a common tool alongside bridge financing when a borrower is managing several properties through a transition.
Definitions reflect Canadian federal and provincial rules as of the “Updated” date above. Not advice for any specific file.
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