Last Updated: July 23, 2018
Effective date: May 25, 2018
2. APPROVAL OF THE TERMS
You may not use the Product nor accept these Terms if you are not of a legal age to form a binding contract with us. If You accept these Terms, You represent that You have the capacity to be bound by them, or if You are acting on behalf of a company or entity, that You have the authority to bind such company or entity (and in which case “You” will refer to the company or entity).
Perch is purely a referral service and does not act as a mortgage broker or lender.
Perch is independently owned and operates across Canada nationwide.
3. SELF-DIRECTED MORTGAGE SELECTION
You acknowledge that Perch is solely a referral engine and the mortgage agent/broker that you ultimately work with will review and edit the mortgage offer selected through Perch as necessary.
By utilizing Perch, you hereby warrant that you are a knowledgeable borrower. You agree to incur all risk of loss resulting from you making your own mortgage decisions in connection with Perch offerings. Perch assumes no liability whatsoever in connection with any and all risk that incurs to you as a result of your own independent and personal knowledge based decisions in connection with Perch tools or algorithms.
You agree not to request to be connected to a mortgage agent by Perch unless you have undertaken your own requisite due diligence and are confident that you have made the right choice of mortgage product.
4. DOCUMENTATION AND APPLICATION VALIDITY
In making a mortgage inquiry, application or in entering into any other transaction or request for information on this website, you hereby agree that all information upon which Perch may rely is to the best of your knowledge accurate, true, current, and complete. Changes to said information can jeopardize your financing approval and prevent your mortgage from closing on time. You further hold Perch harmless for any errors, omissions, fraud or misrepresentations in the information you provide us.
You consent to and hold Perch harmless for Perch reporting any fraudulent information you provide to the authorities and any and all mortgage providers, including but not limited to the RCMP, local police, lenders and insurers. You are committing mortgage fraud, which can carry serious criminal penalties, if you:
Provide false or misleading information to obtain a mortgage
Omit relevant information in order to obtain a mortgage
Provide false or misleading documentation to obtain a mortgage
Alter true and correct documentation in order to obtain a mortgage
Collude with another to use your information to obtain a mortgage for them or someone else
Fail to report a change in your personal circumstances after a mortgage loan application has been made and prior to the mortgage being funded.
If Perch, a lender or insurer deems your application or documents to be suspicious with respect to potential fraud or irregularities, Perch‘s policy is to not to submit your application to a mortgage brokerage and to notify the mortgage agents/brokers of said suspicion. You agree that Perch and its associated agents and brokers shall be under absolutely no obligation to investigate or obtain details on your behalf with respect to said matters and any allegations related to your application, employment or documentation.
5. INTEREST RATES AND APPROVALS
Until you have a valid lender commitment, all rates listed herein are subject to change at any time without notice.
You understand that Perch cannot submit your application to the mortgage brokerage and secure your interest rate until you provide us the documentation required by that lender, as specified by your mortgage representative. You further agree that Perch and any involved party (brokerage, lender, etc) may each request one or more credit reports on all of the applicants in your application, for the purposes of arranging your financing.
No information that Perch provides orally shall constitute an approval, interest rate hold or guarantee. All variable rates are priced at prime minus (or plus) a certain spread (example: prime rate minus 1/2 per cent) unless stated. If you choose a floating-rate mortgage, your mortgage payment could rise and fall with prime rate movements.
6. BROKER & LENDER PERFORMANCE
Perch hereby makes no guarantee or representation that the brokers and lenders with whom it deals and/ or recommends shall approve your mortgage or close it as according to your specific expectations.
You agree that Perch shall not be held responsible for any and all actions taken by brokers/lenders, regardless of whether you chose the broker/lender or Perch recommended the broker/lender.
Perch will refer you to a mortgage provider, you understand that we will not be processing your mortgage and do not control the outcome. In turn, Perch shall not be held liable for any services, advice, actual or implied assurances or mortgage that you receive from any mortgage provider or lender.
If you apply with one or more other applicants, you understand that those applicants may see or hear about your personal information, and you consent to Perch disclosing your personal information to those other applicants, while processing your mortgage application. You hereby acknowledge that Perch shall not be held accountable or liable for the disclosure of your personal information to third parties that may result from your application in which there are multiple applicants.
7. APPRAISERS, FEES AND REBATES
Perch is generally compensated by the broker you are referred to. This compensation may include cash or incentives and varies by broker, product and term.
8. RATE POLICIES AND CASH BACK EFFECTIVE RATES
Perch cannot and does not guarantee to beat all mortgage rate quotes, including but not limited to cases where a below-market rate is no longer available to new customers in the marketplace.
In cases where a lender prohibits Perch from offering a lower rate, you agree that Perch may at its discretion give you equivalent cash back in lieu of any rate discount. This is called a “cash-back effective rate.” Unless otherwise noted, all Perch cash rebates, if applicable, shall be paid to you on or before the 28th day of the month following the month your mortgage closes with Perch, or the next business day thereafter if the 28th falls on a weekend or holiday.
The payments shown for cash back effective rates are effective payments, meaning they are a hypothetical payment assuming your contract rate were at the rate displayed. This is done merely to permit comparison of total payments over the term. Your actual payment will be higher because it’s based on a higher contract rate. Cash back effective rates are calculated by Perch and may be paid in forms other than cash.
You will not exploit information on this website in any way that is competitive with, or damaging to, Perch‘s business.
Perch has the right to refuse, at any time, to do business with any current or prospective client, for any reason that is not strictly and explicitly prohibited by law.
By agreeing to submit a mortgage application with Perch you agree to receive all emails from Perch related to that mortgage and/or its renewal. You agree that such emails are not considered commercial electronic messages and are not spam.
You acknowledge that mortgages involve risk, including interest rate risk, renewal risk, payment risk and the risk that your home will be repossessed with related costs if you fail to make timely payments and honour your agreement(s) with the lender.
We may add to, discontinue or revise these Terms or any aspect, mode, design, or service provided under the Product, which include but are not limited to the:
These Terms are effective on the date that You access the Product and will continue to apply until our relationship with You is terminated. Users may terminate their relationship with us by deleting their profile from within the Dashboard upon login (within user settings). Note that aggregated data that is used by Perch to improve its services may not be deleted as a result of your account deletion. We may terminate our relationship with You immediately at any time and for any reason including, but not limited to, a breach of these Terms under the following circumstances:
Upon termination of our relationship, we will immediately revoke your license to use the Product and block all access to your account and may delete all data and information associated with your account at any point after such termination. If you do not log into your account for 12 or more months, we may treat your account as “inactive” and permanently delete your information without notice.
12. USE OF THE PRODUCT
In order to use the Product, a user must register using our registration page located within the website.
Registration Information: You agree and understand that You are responsible for maintaining the confidentiality of your password, which, together with your name and e-mail address (“User ID”), allows You to access the Product. In addition to an e-mail address, users may use a social sign-on in lieu of an email address to create a user profile. The User ID and password, together with any other contact information You provide us at the time of signing up for the Product form your “Registration Information”. You agree that all Registration Information provided to us will be accurate and up-to-date. You agree to keep your password secure. We will not be liable if we are unable to retrieve or reset a lost password. If You become aware of any unauthorized use of your password or account, you should immediately change your password and notify us immediately at firstname.lastname@example.org.
Forbidden Users: You may not open an account if you are a competitor of Perch.
Unauthorized Access: You agree to only access (or try to access) and use the Product through interfaces provided by us. You shall not access (or try to access) and use the Product through any automated means, including, but not limited to, scrapers, scripts, robots, or web crawlers. You agree not to use or attempt to use another User’s account. You agree not to impersonate any person or entity, or falsely state or otherwise misrepresent yourself, your personal information, or your affiliations with any person or entity.
Prohibited Uses: You may use our Website, services, and products only for lawful purposes. You may not use our Website, services, or products in any manner that:
and any of the foregoing will result in immediate account termination.
You represent and warrant that You will not use the Product to upload, post, link to, email, transmit, or otherwise make available any material that contains software viruses or any other computer code, files or programs designed to interrupt, destroy, or limit the functionality of any computer software or hardware or any telecommunications equipment. Nor will You post or distribute any computer program that damages, detrimentally interferes with, surreptitiously intercepts, or expropriates any system, data, or personal information. You further represent and warrant that You will not disrupt the functioning of the Website, in any manner.
Moderation: You understand and agree that although Perch is not required to moderate your use of the Product, it may in its sole judgment review and delete any content in whole or in part, for any reason whatsoever, which without limitation, violate these Terms or which might be offensive, illegal, or that might violate the rights, harm, or threaten the safety of others.
User Responsibility: You agree that You are solely responsible for any breach of your obligations under the Terms and for the consequences of any such breach. We have no responsibility to you or to any third party for such breaches or the consequences of such breaches (including losses or damage that we may incur).
You understand that when using the Product, You may come across material that You find objectionable, offensive or indecent and agree that You are using the Product at your own risk.
13. INTELLECTUAL PROPERTY AND RIGHTS
Rights to content provided by us: You acknowledge and understand that we own all right, title and interest in: (a) the Product and any associated data files; and (b) all computer software; advertisements; sponsored content; and intellectual property associated with the Product (all such information, individually and collectively, being the “Product Content”), which You may have access to when using the Product.
Except as set forth in the Agreement, all rights not expressly granted to You are reserved. You agree not to decipher, decompile, disassemble, reconstruct, translate, reverse engineer, or discover any of the intellectual property or ideas, algorithms, file formats, programming, or interoperability interfaces underlying the Product. You may not modify, rent, lease, loan, sell, distribute or create any derivative products or services (or parts of services products or services) based on the Product Content that You do not own or to which You have rights, or to create derivative works based on the Product. You may not infringe upon our intellectual property or adapt, reproduce, publish or distribute copies of any information or material found on the Product in any form (including by e-mail or other electronic means), without our prior written consent.
You are not required to provide Perch with any comments, suggestions, recommendations, requests or any other feedback (“Feedback”). In the event that you do provide Perch with Feedback, Perch may use such feedback to improve the Product or for any other purpose. Furthermore, Perch shall own such Feedback and Perch and its affiliates, licensees, clients, partners, third-party providers and other authorized entitled may use, license, distribute, reproduce and commercialize the Feedback, and You hereby assign, irrevocably, exclusively and on a royalty-free basis, all such Feedback to Perch.
Limited license: We grant You a non-exclusive, non-transferable, revocable, limited license to use the Product in accordance with these Terms. This license may be revoked upon breach of these Terms by You and shall automatically be revoked upon termination or expiration of this Agreement.
The Company may, now or in the future, own rights to trade-marks, trade names, services marks, logos, domain names and other distinctive brand features which we use in connection with the operation of the Product (each such feature being a “Brand Right” and collectively being the “Brand Rights”). We do not grant you any right or license to use any Brand Right other than as expressly set out in these Terms and in other licenses between You and us.
Rights to content provided by you: You agree that You will defend, indemnify and hold harmless us and our officers, directors, shareholders, employees, agents and representatives, from and against any and all claims, damages, judgments, liability, costs and expenses (including without limitation any reasonable legal fees), in whole or in part arising out of or attributable to the ownership of User Data.
You also understand that in order for us to operate the Product, User Data may be transmitted by You or us over various public networks and in various media in compliance with our security protocols and we may make changes to User Data to meet the technological requirements of such networks and media. You are responsible for ensuring that User Data is protected and your rights in User Data are enforced; we have no responsibility to protect or enforce your rights on your behalf with respect to User Data.
The Product provided as-is: The Product is provided “as-is” without warranties of any kind, either expressed or implied. You acknowledge, agree and understand that You use the Product at your own risk. We will have no responsibility for any harm to your computer system, loss or corruption of data, or other harm that results from your access to or use of the Product.
Downtime: The Product may be temporarily unavailable from time to time for maintenance or other reasons. We assume no responsibility for any error, inaccuracy, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to, or alteration of, any communications between You and the Product.
No endorsement as to accuracy: We accept no responsibility for the accuracy of any User Data provided by or created using the Product except as otherwise set out in these Terms. The provision or storage of User Data through the Product does not constitute our endorsement or warranty as to the compliance of such User Data with applicable privacy legislation, nor to the accuracy, timeliness, materiality, completeness, or reliability of such User Data. You are responsible for ensuring that that the information you have entered into our system is accurate, reliable and complete.
Monitoring: We do not accept any liability for monitoring the Website or for unauthorized or unlawful content on the Website or use of the Website by users.
No warranty as to non-infringement: Except in the manner provided for in these Terms, we disclaim, and expressly do not provide any direct or indirect, express or implied representation or warranty as to title and non-infringement of intellectual property in relation to the Product.
Damage to hardware: Any material downloaded or otherwise obtained through the use of our services and products is done at your own discretion and risk, and You will be solely responsible for any damage to your computer system or other device or loss of data that results from the download of any such material.
Content provided to companies: You agree and acknowledge that we accept no responsibility and are not liable for any damages that may arise by the organization’s use of that User Data. You further agree and acknowledge that we are not liable for any damages that may arise if the User Data is misdirected to the wrong organization due to any reason, including error on your part or a flaw in the Product.
15. LIMITATION OF LIABILITY
You hereby agree to release, remise and forever discharge us and our directors, employees, officers, and our affiliates, partners, service providers, vendors, and contractors and each of their respective agents, directors, officers, employees, and all other related persons or entities from any and all manner of rights, losses, costs, claims, complaints, demands, debts, damages, causes of action, proceedings, liabilities, obligations, legal fees, costs and disbursements of any nature whatsoever, and for any special, indirect or consequential, incidental or exemplary damages (collectively, a “Claim”), whether in contract or tort, whether known or unknown, which now or hereafter arise from, to the maximum extent allowed by law, that relate to, or are connected with:
even if you have been advised of the possibility of such Claim, or such Claim was reasonably foreseeable and notwithstanding the sufficiency or insufficiency of any remedy provided for herein or in any license.
In the event that we become liable for any damages whatsoever, you agree that such damages shall be limited in the aggregate to the amount of fees or charges which You have paid for the Product within the last 3 months.
To the extent permitted by applicable laws, You agree that You will defend, indemnify and hold harmless us and our officers, directors, shareholders, employees, agents and representatives, from and against any and all damages, judgments, liability, costs and expenses (including without limitation any reasonable legal fees), in whole or in part arising out of or attributable to: (a) generally, your breach of these Terms; your access to and/or use of the Product; and any loss of, or damage to, any property, or injury to, or death of, any person (including you) caused by your access to and/or use of the Product; and (b) specifically, your breach of the intellectual property rights of any third party to these Terms.
You agree that You will be solely responsible for all activities that occur under your account, whether You are aware of them or not. You agree to hold us harmless and release us from any loss or liability whatsoever that You may incur as a result of someone other than You using your password or account, either with or without your knowledge. You agree to indemnify us for any damages, third party claims or liabilities whatsoever that we may incur as a result of activities that occur on or through your account, whether or not You were directly or personally responsible.
17. GOVERNING LAW AND FORUM OF DISPUTES
By visiting the Website or using the Product, You agree that the laws of the country of Canada, without regard to the principles of conflict of laws, will govern these Terms and any dispute of any sort that may arise between You and us. With respect to any disputes or claims, You agree not to commence or prosecute any action in connection therewith other than in the province of Ontario, and You hereby consent to, and waive all defenses of lack of personal jurisdiction and forum non conveniens with respect to venue and jurisdiction in the provincial courts of Ontario.
Expenses: Each party shall be responsible for its own legal fees and other expenses incurred in connection with the performance of any of its obligations hereunder.
18. FORCE MAJEURE
You agree that we are not liable for a delay or failure in performance of the Product or the provisions of these Terms caused by reason of any occurrence of unforeseen events beyond our reasonable control, including but not limited to, acts of God, natural disasters, power failures, server failures, third party service provider failures or service interruptions, embargo, labour disputes, lockouts and strikes, riots, war, floods, insurrections, legislative changes, and governmental actions.
If any portion of these Terms is deemed unlawful, void or unenforceable by any arbitrator or court of competent jurisdiction, these Terms as a whole shall not be deemed unlawful, void or unenforceable, but only that portion of these Terms that is unlawful, void or unenforceable shall be stricken from these Terms.
The insertions of headings are for convenient reference only and are not to affect the interpretation of these Terms.
21. ASSIGNMENT OF AGREEMENT
You may not, without our prior written consent, assign the Agreement, in whole or in part, either voluntarily or by operation of law, and any attempt to do so will be a material default of the Agreement and will be void. We may assign this Agreement to a third party at any time in our sole discretion. The Agreement will be binding upon and will inure to the benefit of the respective parties hereto, their respective successors in interest, legal representatives, heirs and assigns.
You agree that if we do not exercise or enforce any legal right or remedy which is contained in these Terms or which we have the benefit of under any applicable law, this will not be taken to be a formal waiver of our rights and that those rights or remedies will still be available to us. Waivers must be in written form and signed by an authorized representative of the Company.
23. SURVIVAL OF AGREEMENT
All covenants, agreements, representations and warranties made in these Terms shall survive your acceptance of these Terms and the termination of our relationship.
24. ENTIRE AGREEMENT
By providing us with your e-mail address, You agree to receive all required notices electronically, to that e-mail address or by mobile notifications via the Product. It is your responsibility to update or change that address, as appropriate.
If You have any questions or comments regarding these Terms please contact our head office by email at email@example.com.