Reviews

This profile includes reviews for HomeEquity Bank's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  HomeEquity Bank

  200 Bay St. Suite 3500 Toronto, ON M5J 2J1

  
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  HomeEquity Bank

  2821-1 Place Ville Marie Montreal, QC H3B 4R4

Review Details

• Review fromPIERRE L

  Date: 17/07/2025

  1 star
  They said they approved me for a reverse loan of $200,000 but their notary never returned my numerous calls and my creditors (*** *** ******** *********) have never heard of them and never got any calls, emails or any payment (as promised by CHIP) ** * ***** * **** **** ** ***** ** ******** *** ** *** ******** * ** ***********
  

  HomeEquity Bank

  Date: 28/07/2025

  Hi ******,
  Thank you for sharing your concerns. We take your feedback seriously, as it plays an important role in our ongoing commitment to delivering high-quality customer service. To protect your privacy, we are unable to discuss specific account details in this forum. However, please be assured that your complaint has been formally logged and is currently under review by a member of our Customer Care team. We are committed to resolving this matter promptly and will provide you with an update on the investigation within the next week. Sincerely, HomeEquity Bank

• Review fromPatrick P

  Date: 14/07/2025

  1 star
  Dealing with this bank is a complete nightmare
  You will be lucky if the part time casual staff will trouble themselves will return a call in less than a week.
  The hidden expenses are incredible
  The company will insist on multiple property value assessments and the will choose appraisers who will value your property at 60% of market value.
  It took the company 7 days and 7 calls for me to access all of the mortgage holdback. After a full week, I have no idea when, if ever, I will be able to access these funds
  Choosing HEB was the biggest mistake of my life.
  **** **** **** **** *** *** ******* *
  

  HomeEquity Bank

  Date: 25/07/2025

  Hi *******,
  Thank you for sharing your concerns. We take your feedback seriously, as it plays an important role in our ongoing commitment to delivering high-quality customer service.
  To protect your privacy, we are unable to discuss specific account details in this forum. However, please be assured that your complaint has been formally logged and is currently under review by a member of our Customer Care team.
  We are committed to resolving this matter promptly and will provide you with an update on the investigation within the next week.
  Sincerely,
  HomeEquity Bank

• Review fromS. J.

  Date: 16/06/2025

  1 star
  Filed a complaint with Home Equity and they to date, have not done anything about it. On June 10, 2025 they phoned me. I told them I was not interested in speaking with them as nothing has been done. I received a letter dated June 10, 2025 saying thank you for calling them. They do not get their facts straight. There letter said "we have determined that we are unable to proceed with a resolution at this time due to insufficient context and details provided". **** **** ******** ****** ******* ** *********  I was given another complaint form to fill out. Do they really understand that I am not interested in speaking with them. **** **** **** ***** ******* **** ******* ******* *********** **** ** ** ** ***** ** ** **** **********  When a company is not transparent and does not speak the truth or listen to your concerns, they are untruthful in what they offer.
  

  HomeEquity Bank

  Date: 29/07/2025

  Hi *****, We regret that your experience has not met your expectations. While we respect your decision not to continue communication, our goal remains to address matters with accuracy and fairness, and we value the opportunity to do so whenever possible. We appreciate the feedback and take all concerns seriously as we continue to evaluate and improve our processes.

  S. J.

  Date: 30/07/2025

  This is the usual response from Home Equity Bank. I received a courier to their letter dated June 30, 2025 written by ****** *****************, of which they claimed they reviewed my previous concerns submitted ** *** ****** ******** ****** . If in fact they did respond to my concerns, I would not continue to be adamant that they have done nothing. Number 1, they have not addressed my concerns. The point in my complaint, do not tell me that I contacted Home Equity Bank when it was Home Equity Bank that telephoned me - big difference.
  I still await the final documentation that I was charged $1,795.00 evidencing the mortgage with the previous bank was/is discharged and evidencing Home Equity Bank has taken over mortgage etc. If indeed Home Equity did their jobs the way they claimed, this documentation would be in my hands and I could justify the price charged. Yes, they gave a good will credit that I don't get to see until I start paying back the loan; and yes, they reimbursed some of the legal photocopying but where is the documentation evidencing the transaction has been completed (a copy of title showing what was done)? * **** **** *** ****** ******** ****** ***** ***** *** *** **** my complaints have not been addressed.
  I was advised from Home Equity Bank that since it has been over "56 calendar days from the date of my complaint", I need to escalate my concerns to the Ombudsman for Banking Services and Investments (OBSI) for an independent review.
  I just see this as Home Equity Bank continuing to pass the buck and not follow through on their commitment to what they told the customer.
  Home Equity Bank seems to think that sending me advertisements and offering me a bonus to refer someone, it will resolve the matter. They need to listen and follow up on what they claim to be in the business for. I would never recommend these people. ** * *** * ****** *** *** ** ** *** ******** * ** *** * ***** **** ***** *****

• Review fromS. J.

  Date: 28/01/2025

  1 star
  I am not impressed with these people *** ****** *** ***** ***** ******* ********* ********** **** ***** here is what happened with me. They are not straight forward. They lack effective communication. Questions were asked and they did not know the answers to them. Spoke to a manager, claimed I already spoke to a person. A voice message is not speaking to someone. No HEB was returned. They had a week seminar and never informed the client. They had no one to cover for time these people were in the seminar. I left telephone messages and ******* never returned any. While I was at my personal bank, the manager received a telephone call from ******* saying he could not get ahold of me. The manager suggested to call me. I received no phone call. I was charged $350 for a desk top appraisal. I was told they would reimburse me. The Application submitted was returned for corrections to what they wanted. No person physically came to my home to do an appraisal. Your privacy is not kept confidential. I was asked for a payout statement from *** regarding the outstanding amount on the mortgage. I was ********** by ******* because he did not believe me. ******* called *** as I was too on the call. The agent said she could not speak to ******* for privacy issues but he would not hang up. He listened to private codes given and the mortgage amount provided was deemed incorrect. ******* did not have my permission to use my private information. HEB took more from the proceeds I got.
  I sought ILA. The charged was astronomical for photocopying. HEB wanted more than a copy of everything. HEB can make their own copies without charging clients. The closing date to receive funds was changed to accommodate HEB. To date I have received nothing from HEB. ***** ************ *** *** **** ********** ** ******* ***** ********** ***** **** ** *** *******. Making a formal complaint, I still wait. Please think carefully about HEB *** ***** ** ******* *****
  

  HomeEquity Bank

  Date: 04/02/2025

  Hi *****,
  Thank you for sharing your concerns. We take your comments seriously as they are crucial to our commitment to provide high-quality customer service.
  A complaint has been logged and is currently being investigated by a member of our Customer Care team. We will endeavour to resolve your issue in a timely manner and will contact you to provide you with an update on the investigation within the next week.
  Sincerely,
  HomeEquity Bank Client Relations

• Review fromTrina L

  Date: 25/04/2024

  1 star
  We took a reverse mortgage from HEB , all went well, then they upsold us on a loan at a higher interest rate which we discussed and decided to take to complete renovations on our home. One month later we are still waiting for the cheque which according to HEB was mailed to us. HEB claimed that they were unable to deposit the cheque in our account. The same account that they previously deposited the reverse mortgage payment into. They have been charging us interest for a month on money that is "lost in the mail" . When we call we only ever get a "script kitty" that tells us that they're "looking into it". * **** *** * ******** *** ** ***** *** ** * *** ** ******** *** *** **** *** ****** * ***** **** **** *** ** ******** ** *** ***** *****
  

  HomeEquity Bank

  Date: 01/05/2024

  Hi *****,
  Thank you for taking the time to share your experience. We very much value you as a client and we’d love to turn your experience around. Our Manager of Client Relations would like to get in contact with you soon to ensure that we get the details of the issue and help you resolve this.
  However, we cannot locate your individual details based on the current information provided. Please call us at ###-###-#### and/or email ***************@**************.ca with the name and file number and we will follow up promptly.
  Sincerely,
  HomeEquity Bank Client Relations

• Review fromShawn h

  Date: 07/03/2024

  1 star
  We thought a reverse mortgage was right for us and our dealings with Matt were great. However after making arrangements to complete legal process it quickly fell apart. Home equity had 3 business days to pay out our bank and when they dropped the ball the statement timed out. We had no idea this was time sensitive and our bank then sent the account to collections! This caused a huge delay and added $1750 to my bill! I have lodged a complaint but so far no helping hand
  

  HomeEquity Bank

  Date: 12/03/2024

  Hi *****,
  Thank you for taking the time to share your review. At HomeEquity Bank, we always strive to provide an exceptional experience and we’re sorry to hear your experience wasn’t as you expected.
  We’d like to make this right, please contact our manager of Client Relations by calling between Monday – Friday 8:30am – 5:00pm EST toll-free at ###-###-#### or email ***************@***.ca. We will be happy to assist you.
  Once again, we apologize that we weren’t able to meet your expectations. We very much value you as a client and we’d love to turn your experience around.
  Sincerely,
  HomeEquity Bank Client Services

• Review fromDonna M

  Date: 28/11/2023

  1 star
  Well not good so far. Wanted a chip reverse mortgage was qualified for more than I wanted. A fixed mortgage rate for 5 years. When the enfored 1148 bonus that I declined. as it is a higher interest rate. He needed 2 years income tax and back to under writers. Not easy. Beware of up sells. 5 plus star credit rating no debt. Just wanted to stay in my house for a few more years at 58. Will go into a condo. Thanks for nothing.
  

  HomeEquity Bank

  Date: 07/12/2023

  Dear *****,
  Thank you for your comment. We welcome and value all feedback we receive from our community.
  While reverse mortgage rates can be higher than conventional mortgage rates, they are often more favourable than alternative lenders' rates on second mortgages or unsecured loans, offering the added benefit of not having to make monthly mortgage payments. With CHIP there are product features and options designed to suit the unique needs of our clients.
  As passionate advocates of Canadian homeowners who want to age in place, we know that CHIP helps our customers stay in the home they love, improve their financial well-being and offers the peace of mind that every Canadian deserves.
  If you’re open to discuss your specific concerns further. Please feel free to contact our Client Relations Team by calling between Monday – Friday 8:30am – 5:00pm EST toll-free at ###-###-#### or email ***************@***.ca. A member of the team will be happy to assist you.
  Sincerely,
  HomeEquity Bank Client Relations

• Review fromMichael k

  Date: 17/04/2023

  2 stars
  In July 2021 my mortgage broker approached HEB for a mortgage for me to take over from a private lender. I received a proposal from HEB with an estimate property value and a Reverse mortgage total which was very satisfactory. After their appraiser came by and created an an official evaluation of the property, the value of my property was quite a bit higher than HEB estimate, yet the the amount they were willing to provide was was a lot less than their initial projected amount leaving me a large short fall. Also, part of our contract and also within the notarized mortgage contract there is the opportunity for "Subsequent Advances". When I applied for these advances which was agreed to in both the contract and the notarized mortgage agreement I was told that I was not have any Advance Options available.
  * **** **** **** **** ***** * ******* ******* **** ** ** ******* ** **** ********* **** ******* **** **** 

• Review fromRandy B.

  Date: 06/09/2022

  5 stars
  Chip was very helpful and took care of all the details required to make it happen for me. Thank You

• Review fromBrian & Janet L.

  Date: 14/08/2022

  4 stars
  Our experience with our customer service representative Lindsay T. was very good. Lindsay was informative, patient, courteous and very easy to communicate with. Once our application was forwarded to ***** ******** ***** things fell apart. We were told the money would be forwarded on a Friday, the latest Saturday and did not have the transaction completed until late Monday. We called Lindsay multiple times for an update on where the money was and what was happening. It became a situation where no one seemed accept responsibility. Lindsay's manager did not have an answer and apparent contacts with ***** ******** ***** proved fruitless. We eventually received our money late Monday night. The issue for us was the timing, we had financial obligations that necessitated the funds being transferred at the previously assured deadline. The poor communication between people at Home Equity Bank and ***** ******** ***** resulted in needless anxiety for us. Lindsay was great to deal with however the company needs to pay more attention to communicating with clients from the application process until the finds are in the client's hand.