TD Waterhouse closes doors on Arms Length Mortgages


Wow! The biggest trustee in Canada to offer ALMs is no longer doing them effective April 17, 2012. Many of my readers, subscribers, followers and fans have come to me and asked why TD Waterhouse is doing this? Well, I had to get to the bottom of it and I called TDW to find out. I spoke to Matt at the Self Directed RRSP dept and he was not able to provide me with any written documentation, but he was able to read the document to me. Luckily for you, I recorded the call. It boils down to the increased compliance monitoring by the CRA with respect to qualified investments within one’s RRSP. Please check out the audio call here [link removed].

If you want to find out more about why TDW is not offering this product, you can call 1-800-465-5463.

On another note, I wanted to find out if this was going to be standard across all the other trust companies so I placed another call to Olympia Trust and I spoke to Anna, from the Mortgage Dept. She confirmed that they will CONTINUE to offer Arms Length Mortgages and that they too have been receiving a lot of calls about this. So… If you are in the same boat and need more information on what you need to do, please contact Anna and her team at 1-877-565-0001 ext: 8457 or you can email her at [email protected]

As always, if you liked this article, please don’t forget to comment. I love hearing from my readers…


Here is the ”Full Risk Assessment” from TD Waterhouse. I believe this is the document that Matt was reading.


I found out that TDW was the only trustee in Canada to offer ALMs to properties in Quebec. If you know any other trusts out there that do, please let me know so I can let my  other readers know as well.

About the author

Hi there, my name is Alain St. Pierre, founder of Mr. Arm’s Length Mortgage and ASP Canada Real Estate Group. My passion is to teach Canadians how to invest in mortgages using their RRSP’s (and other registered accounts). I’ve become the defacto “Arm’s Length Mortgage” guy, as Ranked #1 on Google