National Bank expands its presence in the mortgage brokers market through new partnerships

Toronto —
National Bank announced the expansion of its strategy in the mortgage broker channel, by offering premium mortgage products through partnerships with the largest brokerage networks in Canada.

The expansion will begin in mid-June in Ontario and Quebec, and will gradually extend across the country by the end of next year.

The bank had withdrawn from the direct broker channel in 2016, before gradually returning to the market through specific partnerships, starting in Quebec in 2019 with the M3 Group, then later expanding to Ontario.

Now, the bank adds the TMG and DLC networks to its distribution channels, alongside continuing its partnership with M3, in a move that reflects its desire to strengthen its presence as a major lender within the broker market.

This step comes at a time when the broker channel has become an important tool for banks to attract customers, especially first-time buyers and clients seeking more competitive financing options.

National Bank will also rely on First National's expertise in mortgage origination services and operational support for applications submitted through brokers, aiming to improve efficiency and accelerate the experience for partners and clients.

The bank's broader entry into this channel is expected to provide additional competition in the mortgage lending market, especially for larger files exceeding $750,000.

Industry players believe that the expansion of a large bank like National Bank gives brokers wider options and pushes lenders to offer more competitive rates, compensations, and terms.

The move also reflects growing confidence in the role of brokers in the Canadian mortgage market, at a time when clients are looking for more flexible financing solutions amid rising housing costs and ongoing market sensitivity to interest rates.