Renewal / Switch

Verico Designer Mortgages Inc.

VERICO Designer Mortgages Inc. will provide you with the lowest fixed rate mortgage of any licensed lender or pay you $100 Gift Card. Your renewal must be for the same property, term and mortgage loan amount. To receive a competitive mortgage rate either fax or deliver to VERICO Designer Mortgages Inc. a copy of your renewal letter from your existing financial institution. Your renewal date must be within the next 120 days. Your renewal letter must be received within 3 days of your application otherwise the offer is considered null and void.

Eligibility

Guarantee applies to VERICO Designer Mortgages Inc. fixed rate mortgage application written between July 1st, 2020 and December 31, 2020. When compared to another lender's Renewal Offer (as defined below), our fixed rate mortgage will have a lower interest rate or VERICO Designer Mortgage Inc. will either beat the other lender's rate or pay you $100 Gift Card. VERICO Designer Mortgage Inc. and the competitor's mortgage must have the same subject property, term, discount points, loan amount. Lowest Rate Guarantee applies to first lien products only. The guarantee does not apply to second lien products. The Guarantee only applies to properties within VERICO Designer Mortgage’s Inc. designated lending areas which is Ontario, the offer does not apply to private mortgages.

How Does This Guarantee Work

You must apply with VERICO Designer Mortgages Inc. then you have three calendar days to return to us proof of your mortgage renewal fixed rate mortgage (same subject property, term, loan amount - the "Renewal Offer"). VERICO Designer Mortgages Inc. reserves the right to verify that the other lender's offer is accurate.

If VERICO Designer Mortgages Inc. is unable to provide you with the lower fixed rate mortgage and you close the loan with your existing lender on the quoted terms, VERICO Designer Mortgages Inc. will pay you $100 Gift Card. To be eligible for the $100 Gift Card you must mail to VERICO Designer Mortgages Inc. a certified copy of the Mortgage Statement. The documents must be accurate and disclose that the loan closed on the terms and conditions, including rate as previously disclosed in the Renewal offer and proof of product similarity. VERICO Designer Mortgages Inc., in its sole discretion, will make all determinations of eligibility and qualification for payment of this Guarantee. The Guarantee is subject to revision or revocation by VERICO Designer Mortgages Inc. at any time without notice. VERICO Designer Mortgages Inc. is not responsible for system failures, communication problems or connection and server problems, natural or man-made, failed, incomplete or delayed transmissions, technical malfunctions of telephone networks, computer equipment, system or software, computer time and date stamp mechanism, or any combination thereof, or other unforeseeable events beyond the control of VERICO Designer Mortgages Inc.

VERICO Designer Mortgages Inc.'s own fixed rate cannot be considered as competitive.