CBC Marketplace goes undercover on TD, a bank that registers all their mortgages as a collateral charge on title. The mortgage "specialists" are very hesitant to full disclose this up front. Very important to ask the right questions when getting a mortgage, or have a professional explain in plain English all components of the mortgage for you.
Fast forward to 16 minutes in. Prior to that it's an investigation into short term high-interest loans.
http://www.cbc.ca/player/Shows/Shows...ID/2656288032/
There is a slight mistake in CBC's report right around 16 minutes where they say (paraphrasing) "a collateral charge allows you to borrow more than your home is worth". While the charge on title can be up to 125% of your homes' value, it doesn't actually allow you to borrow that much.
While collateral mortgages can make it easier to access equity, they make it much more difficult to switch to a different lender, even at renewal date. It becomes a refinance rather than a simple switch/transfer.