Agreement to Terms
By accessing or using the website and services of Best Rates, operating under Verico MortgagePal Inc Broker Lic#12685, you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use our services.
Description of Services
Best Rates is a licensed mortgage brokerage that provides mortgage brokerage services, including but not limited to:
- Mortgage pre-approvals and applications
- Mortgage refinancing services
- Debt consolidation solutions
- Mortgage renewal assistance
- Financial consultation and advice
We act as an intermediary between you and various lenders. We do not directly provide mortgage loans but assist in finding suitable mortgage products from our network of lenders.
Eligibility
To use our services, you must:
- Be at least 18 years of age
- Be a resident of Canada
- Have the legal capacity to enter into binding agreements
- Provide accurate and truthful information
User Obligations
When using our services, you agree to:
- Provide accurate, current, and complete information
- Promptly update any information that changes
- Not misrepresent your identity or financial situation
- Cooperate with document requests and verification processes
- Not use our services for any unlawful purpose
- Not attempt to circumvent security measures on our website
No Guarantee of Approval
Important: Submission of an application through our services does not guarantee mortgage approval. Approval decisions are made solely by lenders based on their underwriting criteria. We do not guarantee:
- Approval of any mortgage application
- Specific interest rates or terms
- Availability of specific mortgage products
- Timeline for approval or funding
Fees and Compensation
Our mortgage brokerage services are typically provided at no direct cost to you. We receive compensation from lenders when a mortgage is successfully funded. In some cases, broker fees may apply and will be disclosed to you in advance in writing before you proceed.
Consent to Credit Checks
By submitting a mortgage application, you authorize us to obtain credit reports and other financial information from credit bureaus and other sources as necessary to process your application. This may include both soft and hard credit inquiries.
Information Sharing with Lenders
You authorize us to share your personal and financial information with potential lenders, insurers, and other parties necessary to process your mortgage application. Please review our Privacy Policy for more details.
Intellectual Property
All content on our website, including text, graphics, logos, and software, is the property of Best Rates or its licensors and is protected by copyright and other intellectual property laws. You may not reproduce, distribute, or create derivative works without our written permission.
Website Use
You agree not to:
- Use automated systems or software to extract data from our website
- Interfere with the proper functioning of our website
- Attempt to gain unauthorized access to our systems
- Transmit viruses or other harmful code
- Use our website for competitive intelligence gathering
Third-Party Links
Our website may contain links to third-party websites. We are not responsible for the content, accuracy, or practices of these external sites. Linking does not imply endorsement.
Disclaimer of Warranties
Our website and services are provided "as is" without warranties of any kind, either express or implied. We do not warrant that our website will be uninterrupted, error-free, or free of viruses or other harmful components.
Limitation of Liability
To the fullest extent permitted by law, Best Rates and its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services, including but not limited to:
- Loss of profits or anticipated savings
- Loss of data or business interruption
- Mortgage application denials
- Delays in mortgage processing
- Actions or omissions of lenders
Indemnification
You agree to indemnify and hold harmless Best Rates, its affiliates, and their respective officers, directors, employees, and agents from any claims, damages, losses, or expenses arising from your use of our services or violation of these terms.
Governing Law
These Terms of Service are governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein. Any disputes shall be resolved in the courts of Ontario.
Changes to Terms
We reserve the right to modify these Terms of Service at any time. Changes will be effective immediately upon posting to our website. Your continued use of our services after changes constitutes acceptance of the modified terms.
Severability
If any provision of these terms is found to be unenforceable, the remaining provisions will continue in full force and effect.
Entire Agreement
These Terms of Service, together with our Privacy Policy and any other legal notices on our website, constitute the entire agreement between you and Best Rates regarding your use of our services.
Contact Information
For questions about these Terms of Service, please contact us:
- Email: [email protected]
- Phone: (416) 822-7357
- Address: 103 - 1660 North Service Rd E, Oakville
Verico MortgagePal Inc Broker Lic#12685