Delivered November 25, 2019. Contributor: Gbolahan G.
To gain an in-depth understanding of the competitive landscape of the home equity lending market in Quebec covering its top players, vulnerable or failing businesses, and the likelihood of success for a new entrant.
We were not able to identify any major players particular to the Quebec region. This is mostly due to the fact that most home equity lenders are national players and offer home equity lines of credit (HELOC) loans across all regions. Below are some of our findings:
The home equity lending market in Canada slightly decreased year-on-year to $173 billion. The market is mostly operated by Canada's top six banks, which have $142.3 billion worth of non-amortizing HELOC loans outstanding.
According to a report by BNN Bloomberg, Royal Bank is the highest lender of non-amortizing home equity-based loans in the country. The bank has $39.6 billion worth of non-amortizing home equity lines of credit (HELOC) loans outstanding.