Borrowing in Lanark Highlands, Ontario

Lanark Highlands, Ontario, recorded a population of 5,737 in the 2021 Census; the rules that govern a loan signed there are provincial.

The Ontario rules that apply

Consumer lending in Ontario is licensed provincially or territorially, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position appears.

The federal Payday Lending Regulations (SOR/2024-114) list Ontario among the provinces that regulate payday lending, where the federal Payday Lending Regulations (SOR/2024-114) cap the cost of borrowing at $14 per $100 advanced.

This community sits in the lower-middle population band, which changes the census figures rather than the rules.

How borrowing works locally

A revolving product charges interest on the outstanding balance, while an instalment product charges a fixed schedule of payments.

A credit file is compiled by private agencies from information lenders and other creditors report. A deposit or trade-in reduces the amount financed and therefore the interest charged over the term.

The census figures for Lanark Highlands

Lanark Highlands recorded a population of 5,737 in Statistics Canada's 2021 Census of Population. The community covers 1031.5 square kilometres of land.

That gives a density of 5.6 people per square kilometre, rounded to one decimal place.

The 2021 Census population places it at rank 222 in the province.

Lanark Highlands sits at rank 222 among the 527 Ontario places here, with 5,737 residents in the 2021 Census.

Products compared here

The product pages behind this city cover the following borrowing categories, among the 20 products compared nationally.

• Mortgage refinancing: Replacing an existing mortgage to change the rate, the term or the amount borrowed, and what it costs.
• Cash advance loans: Immediate short-term cash, including the difference between a cash advance on credit and a payday-style advance.

The density figure for Lanark Highlands, 5.6 people per square kilometre, is calculated from the population and land area above.

Readers comparing Lanark Highlands with another community can use the same four census fields.

The land area recorded for Lanark Highlands is 1031.5 square kilometres, and the population is 5,737 residents in the 2021 Census.

For Lanark Highlands, the two census fields above are the only local statistics used anywhere on the page.

Lanark Highlands sits at rank 222 within Ontario in this data set, and the provincial rules apply as they do elsewhere.

Lanark Highlands ranks 222 by 2021 Census population among the covered places in Ontario.

At 5,737 residents in the 2021 Census, Lanark Highlands is listed alongside the other covered places in Ontario.

The Lanark Highlands page follows the same structure as every other place page, with population, land area, density and rank.

Lanark Highlands is one of 527 covered Ontario places, counted at 5,737 residents with a land area of 1031.5 square kilometres.

Where a figure for Lanark Highlands could not be verified, the page names the publisher instead of printing a number.

Lanark Highlands appears in the census record with 5,737 residents, and the density of 5.6 people per square kilometre follows from it.

Nothing on the Lanark Highlands page is estimated; the population and land area come from Statistics Canada's 2021 Census of Population.

loanmoose.ca is not a lender and does not make credit decisions. The lowest rates are only available to the most qualified applicants.

Census figures are from Statistics Canada's 2021 Census of Population, and the payday position is taken from the federal Payday Lending Regulations (SOR/2024-114).

Lending rules change, and the Financial Consumer Agency of Canada publishes the list of provincial and territorial regulators where the current position is confirmed.