HomEquity Bank has reported a 26 per cent rise in reverse mortgage sales with a total of $459 million in 2016.
The figures reflect a sharp rise in the firm’s
mortgage broker business which increased 48 per cent year-over-year following the launch of its
mortgage broker Direct service in September 2015.
"We are very proud of the growth we've attained in 2016," said Steven Ranson, president and CEO, at HomEquity Bank. "At a time of remarkable appreciation in real estate values, we are privileged to help Canadian seniors access that equity. We look forward to continuing our track record of year over year growth for 2017."
As well as its broker relationships, HomEquity has bolstered its referral partner relationships which includes several large chartered banks.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: