Called a “custom solution,” the platform simplifies the use of bank chip reverse mortgages dedicated to gift funds.
It includes a dedicated support team and branding tool designed to guide homeowners, brokers and consultants through what the bank calls “living heritage” transfers, thereby helping parents give meaningfully without taking excessive financial risks.
Younger buyers face steeper climbs
For many young Canadians, first-time ownership of a home remains an elusive goal. Despite the complex reasons, today’s market is very different from the ones faced by previous generations.
According to the 2024 Scotiabank-Maru public opinion survey, respondents for Millennial Half and Gen Z said they believe home ownership is out of reach. Still, 58% said they hope to buy a home in the next five years.
First-time buyers are also increasingly relying on family help. According to CMHC’s 2025 Mortgage Consumer Survey, 41% of first-time buyers use gifts or estates to pay for mortgage costs, up from 30% of the previous year. According to the survey, the average gifts are nearly $80,000.
But while many parents want to raise their children, few have this cash. For some, unlocking benefits from their own home is the only way to provide such a gift.
“Over the past year, we have increased our clients using the HomeEquity Fund by 15.5% over the past year,” said Carola Corti, chief value proposition and product officer at HomeEquity Bank.
Solutions for purpose-driven wealth transfer
Although CHIP reverse collateral remains the treasurer of the program, Custom Solutions Platform introduces a new infrastructure to support its specific use case: a giveaway.
The service provides dedicated digital experiences and personalized guidance to help homeowners and their consultants understand what it means to use home assets to assist the next generation.
“We have created a personalized journey for this growing demand, with every customer and partner being supported by professional experts,” Carola Corti, chief value proposition and product officer at Home Equonity Bank, told Canadian Mortgage Trends. “These experts guide consultants, brokers and real estate agents and their clients, through the giveaway process, ensuring clarity and support are ensured at every step.”
CHIP reverse mortgage loans allow qualified homeowners to access up to 55% of their home value without requiring a monthly mortgage. When the homeowner sells, moves, or dies, the loan is repaid and does not include an infringement guarantee – if all mortgage conditions are met, the amount owed will never exceed the fair market value of the sale of the home.
“This custom solution is built around the concept of the legacy of life,” Corti added. “The framework helps consultants and brokers frame giveaways, not only financial plans, but also as meaningful intergenerational wealth transfers.”
The agent is paying attention
Since February, HomeEquity Bank said interest in mortgage brokers, financial advisers and real estate agents working with clients who want to support their adult children or grandchildren to enter the housing market has increased.
As the challenge of affordability is expected to persist, Home Equinity Bank said the demand for intergenerational gifts will grow, and its new custom solution platform is designed to support growing demand.
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Last modified: July 8, 2025
