Canadian Home Income Plan Corporation (CHIP) today announced that it has signed an agreement with Multi-Prêts, Quebec’s leading mortgage broker, which will extend CHIP’s home equity lending solution to Multi-Prêts senior customers over 60 years of age.

CHIP provides seniors with access of up to 40% of their home’s value in tax-free cash with no income, credit or medical qualifications.

The new partnership with Multi-Prêts will further CHIP’s reach to seniors in Quebec through the mortgage broker’s well established branch network. The expansion of CHIP’s referral network comes on the heels of a major expansion of CHIP’s sales and relationship management team, as well as establishment of a new regional head office in Montreal.

“Our agreement with Canadian Home Income Plan will enable us to provide clients who need more income in retirement with a viable option that supplements their cashflow and allows them to enjoy life on their terms” says Pierre Martel, president & CEO, Multi-Prêts hypothèques. “We’re excited to partner with CHIP and now be able to offer customers over 60 with a product solution specifically designed to meet their needs.”

“The agreement with Multi-Prêts is a very important one for us as it further strengthens our position in Quebec,” says Eric Bisaillon, general manager, Quebec and Atlantic Provinces, CHIP.

CHIP is a wholly owned subsidiary of Home Equity Income Trust.

Founded in Montreal in 1981, Multi-Prêts Hypothèques, with its 38 employees and 480 agents, generated more than $22 million of revenue in Quebec in 2006.