The platform, often known as Customized Options, streamlines using the financial institution’s CHIP Reverse Mortgage particularly for gifting funds.
It features a devoted assist crew and branded instruments designed to information householders, brokers, and advisors by way of what the financial institution calls a “dwelling legacy” switch, serving to dad and mom give meaningfully with out taking up undue monetary danger.
Youthful patrons face a steeper climb
First-time residence possession stays an elusive objective for a lot of youthful Canadians. Whereas the causes are advanced, at present’s market is dramatically totally different from that confronted by earlier generations.
Based on a 2024 Scotiabank-Maru Public Opinion survey, over half of millennials and gen Z respondents stated they really feel homeownership is out of attain. Nonetheless, 58% stated they hope to buy a house inside the subsequent 5 years.
First-time patrons are additionally more and more counting on assist from household. Based on CMHC’s 2025 Mortgage Shopper Survey, 41% of first-time patrons used a present or inheritance to cowl mortgage prices, up from 30% the yr earlier than. These items averaged practically $80,000, in response to the survey.
However whereas many dad and mom need to assist their kids, few have that type of money out there. For some, unlocking fairness from their very own properties is the one means to supply such a present.
“Previously yr, now we have seen a 15.5% improve in clients utilizing residence fairness funds for gifting functions,” stated Carola Corti, Chief Worth Propositions and Product Officer at HomeEquity Financial institution.
An answer constructed for purpose-driven wealth switch
Whereas the CHIP Reverse Mortgage stays the monetary spine of this system, the Customized Options platform introduces new infrastructure to assist its particular use case: gifting.
The service provides a devoted digital expertise and customized steering to assist householders and their advisors perceive the implications of utilizing residence fairness to help the subsequent era.
“We’ve created a journey, customized for this rising demand, the place each consumer and companion is supported by a devoted Specialist,” Carola Corti, Chief Worth Propositions and Product officer at HomeEquity Financial institution, informed Canadian Mortgage Tendencies. “These Specialists information advisors, brokers and realtors—and their shoppers—by way of the gifting course of, guaranteeing readability and assist at each step.”
The CHIP Reverse Mortgage permits eligible householders to entry as much as 55% of their residence worth with out requiring month-to-month mortgage funds. The mortgage is repaid when the home-owner sells, strikes, or passes away, and features a No Destructive Fairness Assure—that means the quantity owed won’t ever exceed the house’s honest market worth at sale, offered all mortgage circumstances are met.
“This practice answer is constructed across the idea of the dwelling legacy,” Corti added. “This framework helps advisors and brokers body gifting not simply as monetary planning however as a significant, inter-generational wealth switch.”
Brokers are taking notice
Since February, HomeEquity Financial institution says it has seen elevated curiosity from mortgage brokers, monetary advisors and realtors who’re working with shoppers seeking to assist grownup kids or grandchildren in coming into the housing market.
With affordability challenges anticipated to persist, HomeEquity Financial institution says demand for inter-generational gifting is about to develop, and that its new Customized Resolution platform is designed to assist that rising want.
Visited 1,325 instances, 1,325 go to(s) at present
Carola Corti CHIP reverse mortgage Editor’s choose gifting down funds HomeEquity Financial institution HomeEquity Financial institution CHIP HomeEquity Financial institution reverse mortgage reverse mortgage
Final modified: July 8, 2025
