Terms and Conditions

General:

  1. The Tangerine Bank (the “Bank”) Mortgage Campaign Offer (the “Offer”) is available on a new Mortgage Purchase, Equity Take Out (ETO) or Mortgage Switch funded by March 30, 2018 (the “Offer Period”), by new or existing Tangerine Clients (collectively referred to as “a Tangerine Mortgage”). To qualify for the Offer, the Mortgage application must be submitted to Tangerine Bank by February 28, 2018 (the “Offer Expiry”). Rates are subject to change without notice.


Eligibility:

  1. This Offer applies to new Mortgage applications for home purchases or for the switching of an existing mortgage from another lender or financial institution to Tangerine Bank.

  2. Applications for Home Equity Lines of Credit, refinancing of existing Tangerine Mortgages, applications for increases to existing Tangerine Mortgage amounts, and/or transfers of existing Tangerine Mortgages to new properties are excluded from this Offer.

  3. All applicants must submit to a credit check as part of the Mortgage application process, and applicants must be approved for the Mortgage as per Tangerine’s underwriting guidelines and credit granting criteria, which includes approval for high-ratio mortgage insurance, where applicable, by the insurer.

  4. To earn the cash Bonus, pre-Authorized Payments for your Tangerine Mortgage must be taken from your Tangerine Chequing Account, and your Tangerine Mortgage must be in first position in the respective provincial Land Titles Registry in which it is registered (in other words, there must be no existing mortgage in higher priority to Tangerine’s).

  5. A 5% down payment is required for a purchase price of $500,000 or less. For a purchase price between $500,000 and $1 million, the minimum down payment is 5% on the first $500,000 and 10% on the balance. A purchase of greater than $1 million requires a down payment of at least 20% and is not eligible for mortgage default insurance. The cost of default insurance is subject to change if the home’s purchase price or appraised value or the size of the down payment or the amortization changes. The final premium and the cost of your mortgage default insurance will be disclosed in your commitment and loan documents.


Cash Bonus:

  1. The cash Bonus amount is $800.00 on a Tangerine Mortgage with a minimum principal amount of $250,000. The Bonus will be paid to the Client’s Tangerine Chequing Account (the “Receiving Account”) within the 30 day period following the funding of the Tangerine Mortgage.

  2. Where the Mortgage is held jointly by two or more Co-Borrowers, the primary applicant will receive the cash Bonus. The Receiving Account must be open on the day the cash Bonus is paid in order to receive it.

  3. Transferring a mortgage from another financial institution to Tangerine may result in your current financial institution charging you a fee or penalty.


Limitations:

  1. Limit of one Bonus per Tangerine Mortgage. If the Bank is unable to run the Offer as planned for any reason, the Bank reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.

  2. The Bank reserves the right in its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure or other promotional materials advertising this Offer.

  3. The Bank reserves the right to withdraw the Offer in whole or in part, or to vary any of these Terms and Conditions at any time and from time to time without notice at its absolute discretion. The Bank reserves the right to end the Offer earlier or to extend the Offer Period further at its absolute discretion.

  4. The Bank reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer to any Account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer.

  5. This Offer may be suspended, modified or withdrawn at any time without notice.

  6. You agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice offered by us with respect to this Offer is deemed to be provided on the day it is posted on our website.