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 remaining 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, provider of the CHIP Reverse Mortgage, and Equitable Bank, which offers the Flex Reverse Mortgage. In recent years, several smaller lenders, including Bloom Finance and Fraction, have also joined the space.
“The timing for this is perfect,” said Brian Leland, executive vice-president of mortgage lending at Home Trust, in an interview with Canadian Mortgage Trends. “Canada is aging. The cohort of Canadians aged 55 and older is growing faster than any other group, and those 70 plus are expected to grow by 45% over the next decade… That’s a perfect opportunity from a reverse-mortgage perspective, especially since 55-plus Canadians represent the highest share 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 reverse mortgages even stronger. “Using the home equity they’ve worked hard to build, in an efficient, tax-free way, is the right opportunity at the right time, both for reverse-mortgage consumers and the brokers we’re partnering with to offer this product.”
Broker-exclusive distribution
Home Trust will offer EquityAccess exclusively through mortgage brokers, a decision that underscores the company’s longstanding commitment to the broker channel.
“We’ve built our franchise alongside mortgage brokers,” Leland said. “They’ve helped us grow our business into what it is today and we’ve helped many grow and diversify their businesses and we’re thrilled to be working exclusively with mortgage brokers on this product.”
He said the pilot, which ran over several months in Ontario and involved roughly a dozen to 15 brokers representing multiple brokerages, has already provided valuable insights. “It’s all about feedback,” he said. “We’re hearing what we’re doing well so we can build on it—and where we can improve, we’ll sharpen our pencils.”
EquityAccess is currently available in Ontario, with a B.C. rollout planned for 2025 and expansion into Alberta in early 2026, followed by a national rollout later that year.
Building on Home Trust’s alternative-lending foundation
Leland said EquityAccess completes Home Trust’s product lineup, which now spans first-time homebuyers through to retirees. The company’s offerings include its long-standing Classic mortgage, the Equityline Visa home equity line of credit, and a full range of commercial lending products.
“Now, with our reverse mortgage, we can truly serve Canadians at every stage of their homeownership journey,” he said.
He added that EquityAccess was a “natural extension” of Home Trust’s growth following its merger with Fairstone Bank. “We’re a growing and diversifying company,” he said. “This product naturally fits that growth and and diversification.”
A new competitor in a growing space
Leland said brokers have long been calling for more competition in the reverse-mortgage segment. “Competition is healthy,” he said. “It leads to more sustainable markets and benefits both consumers and brokers.”
He added that Home Trust’s decades of experience working with brokers made it a natural fit to enter the space. “Brokers know we understand their business and the kinds of solutions they need to round out their offering and deliver more value to clients,” he said.
On market potential, Leland pointed to international comparisons, specifically the UK, which has often been used as a proxy for sizing what the opportunity could be here in Canada.
“The UK’s reverse-mortgage market is about 10 times the size of Canada’s today,” he said. “With roughly $10 billion in outstanding reverse mortgages here, that suggests a $100 billion opportunity—and that’s great news for mortgage brokers.”
Educating brokers and borrowers
Leland noted that consumer attitudes toward reverse mortgages have evolved significantly since they first appeared in Canada nearly 40 years ago, adding that education will remain a key focus as awareness and understanding of the product continue to grow.
“Our our sales force will spend a significant amount of time educating themselves and educating brokers on on the merit of of the product, really demystifying what a reverse mortgage is. And I think that retired Canadians are becoming more and more accepting that a reverse mortgage is perhaps the exact solution that that they need.”
Leland said it’s a benefit to the market overall to have another large, regulated financial institution enter the space “helping educate Canadians on the merits and the sensibility that a reverse mortgage can provide to Canadian households.”
Key product details
- Designed for homeowners aged 55 and older
- Access up to 59% of a home’s appraised value
- Tax-free lump-sum or scheduled advances
- No monthly payments required
- No minimum FICO score required
- No-negative-equity guarantee ensures borrowers never owe more than their home’s fair market value
- Broker-exclusive distribution through Home Trust’s national network
- Set-up fee: $995
- Rates: 3-year fixed at 6.64%, 5-year fixed at 6.44%, and 5-year adjustable at prime + 2.60% (7.68% APR) — all in line with the lowest reverse-mortgage rates currently available in the market.
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Last modified: October 20, 2025
