A conversation every mortgage broker needs to have
The equity available to support those discussions is substantial, but Martin cautioned that the figure alone doesn’t determine the right course of action. “The right way to use that equity depends on the client’s goals, time horizon, cashflow needs, and desire to remain in their home – which is key.”
MortgageFest Canada is just weeks away
HomeEquity Bank’s regional vice president, broker channel Clive Coke will present at MortgageFest on home equity, aging borrowers and missed opportunities for brokers.
Martin said the message for brokers is clear: 55-plus clients are already in their databases, and aren’t a niche.
“Segment your database. Reconnect with clients aged 55 and older. Ask better questions about retirement and family goals, and know when to bring home equity back into the conversation,” he said.
Technology and artificial intelligence will also accelerate parts of that process – but it’s not the part that matters most. “For a complex decision involving a home, retirement income, and family trusted human advice will remain essential,” he said. “That’s where the broker has to play.”
