Highclere Capital has introduced a broker renewal incentive program aimed at differentiating itself while strengthening broker relationships.
The GTA-based lender entered the mortgage market last year with insured and insurable products, and aims to expand into the Alt-A space in the second quarter, according to president and industry veteran Paul Grewal.
The move comes as Highclere continues expanding its national footprint, securing licences in multiple provinces over the past year, including British Columbia and several Atlantic markets.
Turnkey renewal model with a commission payout
Highclere’s new Legacy Program offers brokers up to 50 bps commission at renewal for a five-year term, while taking most of the paperwork off their desks.
“A renewal offer would be issued to the client 90 days prior to maturity, so there’s really no work required from the mortgage broker. We’ll handle everything on their behalf,” Grewal says. “We’ll provide them with the reporting to advise them that the client has renewed, and there would be a commission cheque payable to the mortgage broker at the time of renewal.”
Grewal says the process is designed to help brokers better allocate their time to originations and managing more complex client needs, which he sees as the broker channel’s primary strengths.
“It enables a broker to focus on new origination as opposed to worrying about the renewal database,” he says. “We’re basically guaranteeing them cash flow at renewal, without having to go through all the effort of getting an application, submitting it to a lender, getting the client to sign, and having the client go through all that additional work.”
An uncommon model in the broker channel
As lenders compete more aggressively to retain maturing mortgages, formalized renewal compensation programs remain rare in Canada’s broker channel. While the concept itself isn’t new, few lenders have structured it into a standardized renewal payout model.
Grewal explains that Highclere’s Legacy Program was inspired by a similar incentive offered by his former employer, Street Capital, which offered an annual annuity to brokers that retained clients at renewal.
After that policy was put into place, “we saw two things happen,” he says. “One was the increase in volume and better-quality business, and second, we saw an increase in our retention rates.”
Rather than a small annual sum, Highclere’s Legacy Program gives brokers a single payout at renewal. The perk also won’t result in any changes to upfront commission, explains Highclere’s vice president of national sales, Chris Woodhouse.
“As a new entrant into this space, we have to try to differentiate ourselves, and one of the best ways is to be a long-term partner, not just a transactional partner to our brokers,” he says. “By paying renewal comp, we’re keeping our partnerships with the folks that want to grow with us.”
A retention strategy rooted in partnership
Grewal adds that the Legacy Program is intended to signal to brokers that Highclere feels it has a shared responsibility for managing client relationships. “It’s not our client. It’s not the brokers client,” he says. “It’s a shared responsibility to do what’s in the best interest of the borrower.”
“We just want to highlight the partnership and the relationship that we’re looking to develop with our broker partners,” Woodhouse adds. “We want to be there for the entire journey of their client’s mortgage.”
The Legacy Program is available across all Highclere products and to all brokers who are approved to sell them in every province other than Quebec, where the company is not yet licensed.
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Last modified: February 18, 2026