approvU Terms of Business
Our Terms of the Business document outlines the services we provide. It is an important document, so please make sure you take the time to read it carefully. If there is anything that you are unsure about, do not hesitate to get in touch with your adviser. When you click “Accept,” it means you agree to these terms.
Who We Are:
We’re a mortgage distribution channel registered with Corporations Canada with Corporation Number 13015238, also registered in the Province of Ontario with the registration number 003295883.
We’re authorized and regulated to trade in mortgages in
- Ontario, by the Financial Services Regulatory Authority of Ontario, with License number 13412. You can check the status of our license to deal in mortgages in Ontario by visiting the FSRAO Licensing Status page http://mbsweblist.fsco.gov.on.ca/agents.aspx.
You can contact us by email at email@example.com or by calling us at 226 507 8855.
You will not use the Site or Service for any illegal purpose. You will only use the Site or Service under the terms and conditions of this Agreement and Applicable Law. You agree that you will not use or attempt to use this website for any purpose other than conducting mortgage broker-related business with approvU as a bona fide client of approvU. You may not use or try to use this website or any part of this Site for any other purpose, including but not limited to:
- That is any way unlawful or prohibited, or that is harmful or destructive to anyone or their property;
- That transmits any advertisements, solicitations, schemes, spam, flooding, or other unsolicited Email, unsolicited commercial communications;
- That interferes with or induces a breach of the contractual relationships between approvU and its employees;
- That transmits any harmful or disabling computer codes or viruses;
- That harvests email addresses from this Site;
- That transmits the unsolicited Email to this Site or to anyone whose email address includes the domain name on this website;
- That interferes with our network services;
- That attempts to gain unauthorized access to our network services;
- That suggests an express or implied affiliation with approvU or relationship with approvU (without the express written permission of approvU);
- That impairs or limits our ability to operate this website or any other person’s ability to access and use this website;
- That uses any methods, means or devices to click on this website or cause a visit to this website to manipulate the results of any Internet search engine or for any other purpose other than conducting mortgage banking-related business with approvU as a bona fide client of approvU;
- That unlawfully impersonates or otherwise misrepresents your affiliation with any person or entity;
- That harms minors in any way, including, but not limited to, transmitting or uploading content that violates child pornography laws, child sexual exploitation laws and laws prohibiting the depiction of minors engaged in sexual conduct;
- That sends or uploads pornographic, violent, obscene, sexually explicit, discriminatory, hateful, threatening, abusive, defamatory, offensive, harassing, or otherwise objectionable content or images;
- That harms, threatens, harasses, abuses or intimidates another person in any way or involves images or content that depicts, promotes, encourages, indicates, advocates or tends to incite the commission of a crime or other unlawful activities;
- That dilutes or depreciates the name and reputation of approvU or any of its affiliates;
- That “crawls,” “scrapes,” or “spiders,” any page, data or portion of or relating to the Site or Services (through the use of manual or automated means);
- That copies or stores any significant portion of the Web Page Content (defined below);
- That decompiles, reverse engineers, or otherwise attempts to obtain the source code or underlying ideas or information of or to relate to the Site or Service;
- That transmits or uploads any content or images that infringes any third party’s intellectual property rights or infringes any third party’s right to privacy; or
- That unlawfully transmits or uploads any confidential, proprietary or trade secret information.
Your Responsibility And Liability
You agree and acknowledge that you have the sole responsibility and liability for your use of this website and for providing or obtaining, and maintaining all of the hardware, software, electrical power, telecommunications, Internet services, and other products or services necessary or desirable for you to access and use this website.
User IDs and Passwords.
Specific areas or features of this website may be restricted to users who have obtained a user identification and password by completing a registration process described on this website. Please be sure to protect and maintain the confidentiality of any user identification, password or other identifying information you may obtain in connection with your use of this website. You agree to notify approvU immediately if you believe your user identification, password or other identifying information has been lost, stolen or otherwise compromised. You also acknowledge and agree that you are solely responsible for all damages or claims that may arise from any access to or use of this website by any person to whom you have provided your user identification, password or other identifying information or by any person who has obtained such information from you, including, but not limited to, any access to or use of this website that may occur after you have notified us that your user identification, password or other identifying information has been lost, stolen or otherwise compromised.
Agreement to Provide Accurate Information.
In making a loan inquiry, application, or entering into any other transaction or request for information on this website, you agree to provide accurate, true, current, and complete information upon which approvU may rely.
We don’t charge you anything to use our services free for all our customers.
We get paid a commission by lenders. This commission is a percentage of your mortgage amount. That’s the same for all lenders. Your Cost Of Borrowing Disclosure will tell you exactly how much commission we’ll be paid for your mortgage when it completes.
Your lender might charge you a product fee – that’s a fee lenders might charge you to get a special mortgage deal. We’ll inform you about all the costs and fees before you take out your mortgage.
approvU Recommendation Engine
Any advice provided is based on the information you provide about your personal financial circumstances and objectives. The information you provide must be accurate, honest, and a true reflection of your events. You are responsible for providing information in this way to a provider or organization that provides products and services recommended for you. Failure to disclose relevant information or change circumstances to a lender may invalidate your chosen plan or product.
We strongly recommend that any information provided is checked thoroughly before submission.
How approvU Works
approvU gives you access to mortgage advice and a whole-of-market range of mortgages. It helps you find and apply for mortgages that best suit your needs.
Mortgages We Offer
approvU offers first-charge Prime and Alternative residential mortgages from over 20 institutional lender partners.
Here’s a list of approvU lender partners – we update this list from time to time. There are a small number of lenders we don’t have access.
Bear in mind that while we work with these lenders, they have terms and conditions you’ll need to agree to if you take out a mortgage with them. This means we’re not responsible for them and how they operate.
approvU is unbiased in its recommendation; it does not favour one lender over another. The recommendations are based solely on the information you provide approvU and our respective product data for each mortgage.
We do not offer second-charge mortgages or loans, private mortgages or loans, small business loans, Commercial Lending or unsecured lending. We will refer you to a specialist broker if you need these loans.
Your Mortgage Application
While approvU will use all of its reasonable efforts to have your application fully processed and closed on or before any applicable rate lock expiration date (if any) and anticipated closing date, some processes are not under our control. For instance, approvU cannot be responsible for delays in the loan approval or closing due to: the untimely receipt of an acceptable appraisal; the untimely receipt of required documentation; your existing home not selling; matters disclosed by a title commitment or survey; any other issues beyond approvU’s reasonable control.
We aim to be able to help all our customers. However, we may be unable or refuse to proceed with an application if:
- Your chosen product is no longer available, and where an alternative product cannot be sourced/provided;
- There has been a pricing or product description error by the lender and where an alternative product cannot be sourced/provided;
- Your required documentation cannot be verified;
- we believe that you are unlikely to be suitable for a mortgage product that we can provide;
- The mortgage provider has declined your application;
- the application appears to be for purposes that do not fit within the scope of our servServicecluding as set out in these terms);
- we have reason to think that any of the information you’ve given us is inaccurate or misleading.
- The application appears to be for an address outside of Canada.
- The mortgage we recommended to you isn’t available, and we cannot offer an alternative.
We will let you know if we can process your application.
Application Status Communications
We will communicate primarily with the Main Applicant on all joint applications. However, we may communicate with both applicants when necessary. By signing up for our service, you agree to disclose application data to all applicants without restriction or prejudice.
By engaging with our team to provide our services, you permit us to act on your behalf in liaising with the mortgage provider and any other third parties involved in the application process. As an intermediary, we never own the products you buy or transact through us. All purchases will therefore be registered in the name(s) of the client(s), and we will forward you all documents showing ownership of your assets as soon as possible after we receive them. The provider will send the documentation directly to you.
In some cases
Recording & Monitoring of Communications.
Your communications with us via the website, chat, Email, and telephone may be recorded or monitored. By using such communication methods, you consent to the recording or monitoring of the same.
Contact Methods & Opt-Out:
Agreement to calls and information sharing: If you submit an inquiry to approvU through this website or otherwise, you are inquiring about lending programs and services offered by approvU. You understand and agree that if you submit an inquiry, we may share the information that you provide, including, but not limited to, your full name, birth date, address, telephone number, and social insurance number with our affiliates (“lenders”) so that they may respond to your inquiry. You authorize approvU to share your information, either provided or corrected by us. You acknowledge that approvU is not a party to any agreement you may make with an affiliate and that the affiliate is solely responsible for its services to you. You understand that the affiliates determine requirements for a particular product or servServicecluding, including a mortgage. That approvU does not endorse, warrant, or guarantee the products or services of any of its affiliates. Nothing in these Terms of Business or on this website constitutes an offer for a loan commitment or interest rate lock agreement. You agree that approvU shall not be liable for any damages or costs which arise from your use of the affiliates’ goods or services.
By submitting your contact request for a loan product, you represent and warrant that each person you register for the ServServicefor whom you provide a wireless phone number has consented to be contacted by our mortgage partners by telephone (on a recorded line), automated calling, pre-recorded calling, text message, Email, fax, phone or any means, even if you have opted into Canada’s National Do Not Call List (DNCL), any Province or Territory equivalent Do Not Call List or the internal Do Not Call List of any company. You understand that the Partners may maintain the information you submitted to us even if you decide not to use their services. If you no longer want to receive communications from a Partner, you agree to notify the Partner directly. You can opt-out of any or all contact methods by emailing firstname.lastname@example.org. If you wish to revoke your consent to affiliate sharing, you may send an email to email@example.com.
When you submit a loan application, approvU will begin to process your application and, as a result, may advance on your behalf costs for certain third-party expenses. If you do not fully cooperate in or complete the application process (including submitting all required documentation on time), choose to withdraw your application, or choose not to close the transaction for any reason, you may be required to pay for some or all of approvU third-party costs. Please review your deposit agreement for details specific to your loan application.
You are authorizing approvU to obtain a copy of your credit report by applying for credit. As a result, a “hard” inquiry may appear on your credit report. A hard inquiry may negatively affect your credit score.
Our authority to act on your behalf by these Terms of Business can be terminated at any time by either side in writing without prior notice and penalty. This will be effective from the date the notification is received. However, if transactions already initiated remain outstanding, the notification will only be affected once these have been completed.
We cannot guarantee that a mortgage provider will consider or accept your application. We will have no responsibility for ensuring that the mortgage is entered into or fulfilled.
Besides helping you get a great mortgage deal, we will not be involved in your purchase process. You will be responsible for providing all necessary details of the mortgage product and mortgage provider to your solicitor or conveyancing practitioner.
You may withdraw your mortgage application before your mortgage has been entered by contacting us using the details provided above. Please note any non-refundable lender fees already paid may not be refunded if you cancel an application.
Our Right To Suspend Our Services
approvU is allowed to withdraw or suspend our services at any time. If that ever happens and you have an account with us, we’ll contact you to let you know. We’ll do our best to let you know as soon as possible. That said, depending on the circumstances and whether they’re beyond our control, we might need to do it without notice.
The Website Service may be unavailable from time to time due to maintenance or malfunctioning of the computer, network equipment, or other reasons.
Data Protection and privacy
Accuracy Of Our Website Content
We will do our best to ensure that the content of our website is accurate and up-to-date; however, we cannot guarantee that our Site, or any content on it, will be free from errors or omissions.
You are responsible for keeping your devices, internet connection and software secure. We recommend you take sensible preventive measures, such as installing anti-virus and ensuring you have the latest versions and security patches installed.
The content on our Site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain appropriate separate advice (whether provided by us through our mortgage services or another person) before taking, or refraining from, any action based on our Site’s content.
Although we make reasonable efforts to update the information on our Site, we make no representations, warranties or guarantees, whether express or implied, that the content on our Site is accurate, complete or up to date.
Links To Other websites.
This website may provide links to other websites on the World Wide Web for your convenience. Unless expressly stated on this website, approvU does not endorse, approve, sponsor or control. We are not in any way responsible for any of the content, services, calculations, information, products or materials available at or through any websites to which this website may provide a link. Using this website, you acknowledge and agree that approvU will not be responsible or liable to you or any other person for any damages or claims that might result from your use of such content, services, calculation, information, products or materials.
You can contact us if you have a complaint about your approvU adviser or the servService received.
Our number one priority is to provide customers with the highest level of servServicewever; we know that sometimes things do not go as planned.
Customer feedback helps us understand where things have gone wrong and let us put them right. It also helps us know where we need to improve our products and services.
If you have a complaint about your adviser or the mortgage advice you have received from your adviser, please get in touch with your adviser or approvU:
- In writing: Complaints Team,
- By phone: + 1 226 507 8855
- Email: complaints@approvU.com
If you cannot settle your complaint with us, you may be entitled to refer it to the FSRAO.
Further information on the services provided by the FSRAO can be found on their website financial-ombudsman.org.uk or alternatively:
- In writing:
- Financial Services Regulatory Authority of Ontario (FSRA)
Licensing & Market Conduct Division
Mortgage Brokerage/Administrator Complaints
25 Sheppard Avenue West, Suite 100
- Email: Complaint Fillable form: https://www.fsrao.ca/media/4186/download
- By phone: 1-800-668-0128 or 16-250-7250
- Email: firstname.lastname@example.org
We are the owner or the licensee of, and reserve all rights to, all intellectual property rights attributable to our website and its contents. This includes copyright works and trademarks, which may or may not be registered. Please get in touch with us for clarification if you doubt whether you can use anything on our website.
You understand and acknowledge that approvU controls and operates this website within Canada. This website provides information regarding services and products made available in Canada only. We make no representation that the services or products about which information may be provided on this website will be available (a) anywhere outside of Canada or (b) in every Province and Territory within Canada. You acknowledge and agree that you are responsible for compliance with all federal, provincial, territorial and local laws applicable to your website access and use.
These Terms and all our agreements provided are governed and construed by the laws of the Province of Ontario, Canada. You agree that any dispute (including any non-contractual dispute) arising from your agreement to use our services shall be subject to the exclusive jurisdiction of Ontario courts.
We may change these Terms and our Site at any time, so please check this page from time to time.
Application of Additional Terms.
You acknowledge that certain features of this website, as well other products and services of approvU, including those that may be available through this website, may be subject to terms, conditions and disclaimers in addition to these Terms of Business, and you agree that your use of such products and services will be subject to such additional terms, conditions and disclaimers.