Home Trust has entered Canada’s growing reverse mortgage market with the launch of EquityAccess, a suite of products designed to help Canadians aged 55 and older unlock their home equity while they stay in their homes.
Announced at the National Mortgage Conference in Ottawa, EquityAccess positions Home Trust as a new entrant in a market traditionally dominated by HomeEquity Bank, a provider of CHIP reverse mortgages, and Equitable Bank, which offers Flex reverse mortgages. In recent years, several smaller lenders have joined the scene, including Bloom Finance and Fraction.
“The timing is perfect,” Brian Leland, executive vice president of mortgage lending at Home Trust, said in an interview. Canadian Mortgage Trends. “Canada is aging. The group of Canadians aged 55 and over is growing faster than any other group, and those over 70 are expected to grow by 45 per cent over the next decade…This is an excellent opportunity from a reverse mortgage perspective, especially since Canadians aged 55 and over represent the highest proportion of homeowners.”
He added that many people in this age group worry they won’t be financially ready for retirement, a reality he said makes the case for a reverse mortgage even stronger. “Leveraging the home equity they have worked hard to build in an efficient, tax-free way is the right opportunity at the right time for reverse mortgage consumers and the brokers we work with to offer this product.”
Broker Exclusive Distribution
Home Trust will offer EquityAccess exclusively through mortgage brokers, a decision that underscores the company’s long-term commitment to the broker channel.
“We built our franchise with mortgage brokers,” Leland said. “They have helped us grow our business to where it is today, we have also helped many others grow and diversify their businesses and we are delighted to be working exclusively with mortgage brokers on this product.”
He said the pilot project, which has been running in Ontario for several months and involves approximately 12 to 15 brokers representing multiple brokerage firms, has provided valuable insights. “It’s all about feedback,” he said. “We’re understanding what we do well so that we can build on that – and where we can improve, we sharpen our pencils.”
EquityAccess is currently available in Ontario, with plans to launch in British Columbia in 2025 and expand to Alberta in early 2026, followed by a nationwide launch later that year.
Alternative lending based on Home Trust
Leland said EquityAccess complements Home Trust’s product lineup, which now covers first-time homebuyers and retirees. The company’s products include long-term classic mortgages, Equityline Visa home equity lines of credit and a full range of business loan products.
“Now, with our reverse mortgages, we can truly serve Canadians at every stage of the home buying process,” he said.
He added that EquityAccess was a “natural extension” of Home Trust’s growth following the merger with Fairstone Bank. “We are a company that continues to grow and diversify,” he said. “This product is a natural fit for this growth and diversification.”
New competitors in a growing space
Leland said brokers have long called for more competition in the reverse mortgage space. “Competition is healthy,” he said. “It will lead to a more sustainable market and benefit both consumers and brokers.”
He added that Home Trust’s decades of experience working with brokers made it a natural choice to enter the space. “Brokers know we understand their business and the solutions they need to refine their offerings and provide more value to their clients,” he said.
Regarding market potential, Leland pointed to international comparisons, particularly the United Kingdom, which is often used to gauge opportunities that may exist in Canada.
“The reverse mortgage market in the UK is about 10 times the size of Canada today,” he said. “There’s about $10 billion in outstanding reverse mortgages here, which represents a $100 billion opportunity, which is great news for mortgage brokers.”
Educate brokers and borrowers
Leland noted that consumer attitudes toward reverse mortgages have changed significantly since they first emerged in Canada nearly 40 years ago, adding that education will remain a key focus as awareness and understanding of the product continues to grow.
“Our sales staff will spend a lot of time educating themselves and educating brokers on the benefits of the product and really demystifying reverse mortgages. I think retired Canadians are increasingly accepting that reverse mortgages may be just the solution they need.”
Leland said it would be good for the market as a whole for another large, regulated financial institution to enter the space and “help educate Canadians about the benefits and sensitivities that reverse mortgages can offer Canadian families.”
Main product details
- Designed for homeowners 55 and older
- Get up to 59% of your home’s appraised value
- Tax-free one-time or scheduled advance payment
- No monthly payments required
- No minimum FICO score required
- The No Negative Equity Guarantee ensures borrowers will never owe more than the fair market value of their home
- Exclusive broker distribution through Home Trust’s national network
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Last modified: October 20, 2025
