Tangerine Loan Application Terms and Conditions effective September 22, 2023
In these Terms and Conditions, “we”, “our”, “us” and “Tangerine” mean Tangerine Bank and “you” and “your” mean the individual(s) who is making this Application, including all co-applicants.
When you submit this Application, you agree to the following:
Tangerine Mortgage and Home Equity Line of Credit products and services are available to Canadian residents for residential properties located in Canada. Your Application is subject to the home meeting Tangerine’s property requirements, verification of required equity and other information provided, maximum permitted loan amounts and the applicant(s)’ meeting Tangerine’s credit and lending criteria.
Applicants are responsible for all costs incurred to arrange the Mortgage and/or Home Equity Line of Credit, including any legal, survey, appraisal and insurance costs.
3. Information provided to Tangerine:
You affirm that the information that you give in this Application is true and complete and that you have not withheld any information. We may cancel or reject your Application or any Mortgage and/or Home Equity Line of Credit you obtain with us if any of this information is incorrect.
Tangerine recognizes the importance of your personal information, and we never take for granted the trust that you - as a Client have placed in us to protect that information. The Tangerine Privacy Code forms part of these terms and conditions, and applies to your relationship with us. A full explanation about how, when and why we may collect, use and disclose your information, as well as your rights relating to that information can be found here.
Information we collect about you
Information that we collect about you will often come from you directly (for example, when you apply for a new product). We may tell you that certain information is mandatory. If you do not provide personal information that is required for a particular product or service, then we may not be able to provide it, or meet all our obligations to you. We may also collect information about you from other sources, including information from credit agencies (for example, where you apply for credit, or where we must identify you), people appointed to act on your behalf, our social media pages, or other banks or financial institutions (for example, where you have switched your accounts to us, or where we have received information to investigate incorrect payments).
How we use your information
We will process your information where you have provided us with consent to use it, where processing will allow us to take actions that are necessary to provide you with the product or service you want, to allow us to meet our legal obligations (for example, to identify you), to understand how Clients use our services or to manage our risks. We may also use your information to send you messages, either by post, telephone, text message, email or other digital methods, including through ABMs, apps, and online banking services. These messages may be to help you manage your Account, to meet our regulatory obligations, to inform you about product or service features or to tell you about products and services (including those of other companies) that may be of interest to you.
Who we will share your information with
We will keep your information confidential, but we may share it with third parties (who also have to keep it secure and confidential) in certain circumstances, including: the Scotiabank Group of Companies† (for example, for marketing purposes or internal reporting where those companies provide services to us), payment processing services (for example, credit card networks), our service providers and their agents (for example, collection agents, statement printers), fraud prevention agencies, and other banks or financial institutions. Some of these third parties may be located outside Quebec or Canada.
† The Scotiabank Group of Companies means The Bank of Nova Scotia and its affiliates who provide deposit, investment, loan, securities, trust, insurance and other products and services.
Keeping your information
We will keep your information for as long as you are our Client. Once our relationship has ended, we will only keep your information for so long as is appropriate for the type of information, and the purpose for which we’re retaining it. The period we keep your information for is generally linked to the amount of time available for you to bring a legal claim. We may keep the information longer than this, if there an existing claim or complaint that will require us to keep your information or for regulatory or technical reasons. If we do keep it for a longer period, we will continue to protect your information.
Automated Processing and Decision Making
The way we analyze your personal information may involve automated decisions. That is, we may process your personal information using software that can evaluate your personal circumstances and other factors to address risks or outcomes. We may use such methods to make decisions about you relating to credit checks, identity and address checks, monitoring your Account(s) for fraud or other financial crime or for other reasons that we’ll disclose to you.
Your rights and how to refuse or withdraw your consent
You have certain rights over the personal information we hold about you, including the right to ask for a copy of the information, to correct or rectify personal information that we hold about you or not to use your information for a particular purpose (i.e. withdraw consent). Note that your ability to exercise these rights will depend on a number of factors, and in some situations, we may not be able to agree to your request. You can refuse to consent to our collection, use or disclosure of your personal information, or you may withdraw your consent to our further collection, use or disclosure of your personal information at any time by giving us reasonable notice, subject to limited exceptions. This includes withdrawing your consent to use your Social Insurance Number to verify credit information or to confirm your identity. More information about withdrawing your consent and about any of the items described in this section is available here.
If you have a Mortgage Account with us, we may share information about you, including credit information and the amount of your Mortgage, to mortgage insurers for the purposes of offering and administering mortgage insurance, or to a creditor where you are in default of an obligation to that creditor.
If there are co-applicants to the Application, you represent and warrant to Tangerine that you have obtained the express consent of each co-applicant to the collection, use and disclosure by you, and the collection and use by Tangerine, of the co-applicant’s email address and any personal information in connection with this Application and you understand that Tangerine will send a link to this application to your co-applicant for completion. Your co-applicant’s email address will only be used to communicate with them about this application unless they separately consent to receive additional email communications or you initiate other email messages such as OrangeKey referrals or Email Money Transfers. You understand that Tangerine will not process this Application until all co-applicants have completed and submitted this Application.
6. Timing of Disclosure:
Cost of Borrowing disclosure for a credit agreement secured by real property must be provided to you two clear business days before entering into the Loan Agreement unless you waive this requirement. If your Cost of Borrowing disclosure wasn’t provided to you earlier, you consent to receiving the required Cost of Borrowing disclosure at the time you enter into a Collateral Mortgage Agreement and/or Home Equity Line of Credit Agreement with us.
You have expressly requested that this Agreement and any related documents, including notices, be drawn up in English only. Vous avez expressément exigé que cette Entente et tout document, y compris tout avis, qui s’y rattache, soient rédigés en anglais seulement.
Other Questions? If you have any questions about the Application or these Terms and Conditions, you can call us Monday to Saturday, 8:00 am to 10:00 pm ET at 1-800-568-2190.