Premier David Eby has called on landowners in Richmond to bring forward evidence that the Cowichan Decision is hindering their ability to renew their mortgages.He revealed that the government has not yet received any information suggesting banks are showing apprehension as a result of the landmark title ruling.."One of the pieces of information that we're seeking to gather is from property owners in the area, if they're running into impacts that are related to financing or other related issues," Eby said during a press conference in Vancouver on Monday. "It's helpful for us to know."He went on to note that such "important evidence" would greatly assist the government as they push for a stay that would result in a suspension of the decision until the Court of Appeal makes the final call."I understand why people would be anxious; I would be anxious," Eby continued, "but I wanna reassure people we are going to court, we're bringing forward any information that we have. Currently to date, we don't have any information that banks are reluctant to loan in relation to these properties and it'd be helpful for us — if that is in fact the case — to be able to get that information from homeowners."The premier made it clear that as of now, nothing has changed."People still own their properties," he said. "You still are able to sell your properties. But the uncertainty, I recognize, is a serious issue and we need to resolve that as quickly as possible.".Eby also pointed out that the BC Supreme Court initially told the government their ruling would not impact landowners in the claim area, arguing that as such, they needn't be notified."The court assured us that they would make a decision that didn’t affect landowners in the claim area so they didn't have to be served, they didn’t have to be told about the case," he said. "Unfortunately that obviously turned out not to be the case.".WATCH: Tensions erupt at packed Cowichan Decision info session in Richmond.As a result, it was only once the ruling had been handed down that landowners found out their properties were invovled.On October 28, hundreds of concerned residents packed into the Sheraton Vancouver Airport Hotel in Richmond to learn more — and voice their concerns.Among those who spoke up was a resident who claimed that he has lived in Richmond since 1975 and was recently told by his lender that they will not be renewing his mortgage as a result of the court's decision.He did not mince words, asking the mayor and his team point blank why they did not reach out to land owners in Richmond at any point since the case was filed in 2014."The obligation to notify is that of the plaintiffs," the city's lawyer explained before being cut off.The resident proceeded to ask those on stage to ditch the legalese and come clean to residents, a question that garnered applause from the audience."Answer the question!" they called out. "It would have been basic decency on your part!"Eventually, his mic was cut..EXCLUSIVE: Mortgage brokers sound alarm over Cowichan Decision's impact on landowners.A number of mortgage brokers told the Western Standard that the decision could theoretically impact landowners' ability to renew, citing the issues associated with a transition from freehold to native leased land."If somebody's coming to me and saying, hey, I want to purchase something on native leased land, okay, that's not going to necessarily be a problem," GLM Mortgage Group President Geoff Lee said, "but your lender selection isn't going to be as as abundant at it was for freehold."He added that if homeowners need to switch lenders, they would have to re-qualify, which presents its own set of problems, especially if the borrowers' financial situation has changed since they were first approved.
