Reverse Mortgages in London Reverse Mortgages in London

CHIP in London

CHIP (HomeEquity Bank) is the reverse mortgage available in all 10 provinces and the one that routinely considers rural properties.

• Ontario has four reverse mortgages plus Fraction.
• In London proper, borrowers usually compare multiple lenders; CHIP remains the fallback for rural Middlesex files.
• CHIP (HomeEquity Bank) is available in all 10 provinces and routinely considers rural properties.

City-specific planning notes

• Southwestern Ontario borrowers benefit from multi-lender competition inside London's urban footprint.
• Detached homes in mature areas such as Old North, Wortley Village, Byron, and Masonville are common reverse mortgage candidates.
• Rural Middlesex and surrounding county properties outside London may still qualify through CHIP where others decline.
• Hospital, university, and public-sector employment support steady local housing demand for aging-in-place planning.

London ON equity and neighbourhood context

Typical owner-occupied values in London often sit below GTA levels, which can improve LTV headroom for the same age band — especially on long-held detached homes in established neighbourhoods like Old North, Wortley Village, Byron, and Masonville.

Borrowers deciding between a reverse mortgage and selling should model carrying costs against local replacement housing, not Toronto or Mississauga price assumptions.

Urban London vs rural Middlesex

Inside the city, Ontario's multi-lender lineup generally competes. Outside the urban core — rural Middlesex and smaller surrounding communities — CHIP is often the product that will still consider the property.

Start with a reverse mortgage estimate, review current published rates, and read the CHIP guide if your home sits outside London's urban delivery area.

Plan your next step in London

Use these Reverse Mortgage Centre tools before you book a call — no personal info required for the estimate.

• Loan estimate calculator — model a draw range from your approximate home value and age.
• Current reverse mortgage rates — published rate context across products (not a live quote).
• CHIP reverse mortgage guide — product features when CHIP is your primary or only option.