13 Customer Reviews
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Review from Trina L
1 star25/04/2024
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 Response
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 RelationsReview from Shawn h
1 star07/03/2024
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 handHomeEquity Bank Response
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 ServicesReview from Donna M
1 star28/11/2023
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 Response
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 RelationsReview from Michael k
2 stars17/04/2023
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 from Randy B.
5 stars06/09/2022
Chip was very helpful and took care of all the details required to make it happen for me. Thank YouReview from Brian & Janet L.
4 stars14/08/2022
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.Review from Laurie S.
5 stars04/07/2022
The people that I dealt with were extremely helpful, quick, efficient, and knowledgeable.HomeEquity Bank Response
15/07/2022
Hi ******,
Thank you for the 5-star review! Our team of experts and specialists are here to help you and make the process as efficient and seamless as possible, and it's great to hear that your experience is reflected of this. We appreciate you taking the time to share your experience with us and we wish you all the best in your retirement!
Sincerely,
HomeEquity Bank Client ServicesReview from Janice L.
5 stars30/05/2022
From start to finish our experience was excellent with Home Equity Bank and all their advisers.HomeEquity Bank Response
15/06/2022
Hi ******,
Thank you for the great review! We're happy to hear that you had a great experience with HomeEquity Bank. We thank you for being our valued customer and we wish you all the best in your retirement.
Sincerely,
HomeEquity Bank Client ServicesReview from Tony B.
5 stars18/05/2022
Very professional, easy to work with, and helpful when answering questions. It's a great option *********************************************HomeEquity Bank Response
02/06/2022
Hi ****,
Thank you for the 5-start review! Hundreds and thousands of Canadians 55+ chose ************ Mortgage as part of their retirement solution and we're happy to hear that this was a great choice for you. We strive to provide an exceptional customer experience and we're glad to hear that the process was easy and that our mortgage specialists were helpful when answering your questions. We thank you again for the great review ******************. We wish you all the best!
Sincerely,
HomeEquity Bank Client ServicesReview from Tony & Michele L
5 stars18/03/2022
We applied for our mortgage in early January and received our funding February 1. The process was a little more involved due to Covid, but the guidance and help we received from Ryan was excellent.
As with any process of this magnitude, there are rules and regulations that must be adhered too. For some this can can appear to be cumbersome and difficult to deal with.
We are grateful to home equity for the opportunity this program provides.
**********************************
This opportunity is not without cost, but in our opinion the offset is well worth the price.
Tony & MicheleHomeEquity Bank Response
28/03/2022
Hi Tony and Michele,
Thank you taking the time to provide your positive experience at HomeEquity Bank. We are happy to hear you found the offset to be well worth the price and your time. The CHIP Reverse Mortgage has helped tens of thousands of Canadians 55+ live retirement their way by accessing tax-free cash, and we are glad it could do the same for you. We will be sure to share your kind words with Ryan. Thanks again!
Sincerely,
HomeEquity Bank Client Services
Customer Review Rating
3.46/5stars
Average of 13 Customer Reviews
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