Full Application

Mortgage Application

Our brokerage is dedicated to ensuring that we provide you with the right mortgage based on your needs and circumstances. To meet this objective and fulfill the suitability requirements as dictated by law, we require the following information. We are dedicated to the protection of our clients and information is considered personal and confidential and will only be used to meet the objectives as provided and required by law.

Privacy / Suitability / Consent Agreement

Benson Mortgages takes pride in the policies and procedures used to protect the personal information collected and maintain on behalf of our clients. Access to personal information is granted to our agents under the Personal Information Protection and Electronic Documents Act (PIPEDA).
We will not sell your information unless you give us permission to do so.

INFORMATION COLLECTION AND USE:

To better understand your financial needs and make you aware of new services that could help you reach your goals, Benson Mortgages collects personal information from a variety of sources.
Some personal information and some reasons it is collected include, but is not limited to, are:

1. Data: such as name, address, contact numbers and email contact;
2. Data: such as income, employment, age, net worth, investment objectives, and banking information;
3. Unique identifiers: such as social insurance number, drivers license, passport, etc.: used to fulfill regulatory and other governmental obligations to distinguish you from other clients with similar names;
4. Information from a consumer reporting agency or other source, which may include account information and/or information about your creditworthiness. BMFC uses this information to help determine the mortgage product that is suitable for your mortgage needs.

Benson Mortgages collects this information in order to provide the services you have requested, and to help us determine how Benson Mortgages or other non-affiliated companies may be of service to you.

GUIDELINES FOR INFORMATION DISCLOSURE:

1. Benson Mortgages may give it to credit bureau agencies, financial institutions, insurers, private investors, creditor life company and, with your consent, to other parties* (see below)
2. Benson Mortgages shall use it to determine your financial situation
3. Benson Mortgages shall use it for purposes related to services that you request from us. Benson Mortgages may also provide it to others that work for Benson Mortgages, but only as needed for the provision of those services.
4. Benson Mortgages shall use your social insurance number as an aid to identify you with credit bureau agencies and financial institutions for credit history file matching purposes.
5. Benson Mortgages may advise your Realtor about the progress of your application. 
6. Benson Mortgages may use your information to promote our services to you. Benson Mortgages will not use or disclose personal information for purposes other than those for which it was collected, except with the consent of the individual(s) or as required by law. Files are kept a minimum of three (3) years. BMFC shares consumer information with our partners such as lenders, insurers, credit bureau agencies and a creditor life company.

ONGOING COMMITMENT:

Benson Mortgages hopes this information is useful to you. Confidentiality is the key to a strong relationship between you and Benson Mortgages is committed to protecting your privacy. This privacy statement is always available on our website; www.bensonmortgages.ca. If you need clarification regarding this policy, please contact our office located at 209-10376 Yonge St., Richmond Hill ON., L4C3B8 Tel. (416) 477-5500

SUITABILITY:

You are aware of:

1. How variable rate mortgage payments may fluctuate over the term of your mortgage
2. How terminating or prepaying a mortgage within the stated term can involve prepayment penalties
3. How changes in employment or level of income may affect the ability to pay mortgage payments
4. How different mortgage products can vary with various prepayment options
5. The amount of monthly mortgage payment of principal and interest you are comfortable paying
6. Benson Mortgages will be offering and explaining the benefits of creditor mortgage protection

I have explained the inherent risks associated with mortgages. I have evaluated your needs to assist in determining the most appropriate mortgage including offering to assist in preparing a budget.

CREDIT BUREAU CONSENT:

I/We the undersigned, declare the information provided with respect to my/our mortgage application is a true and complete representation of my/our financial situation. I/We understand that it is being used to determine my/our credit responsibility and to evaluate my/our request for mortgage financing. I/We authorize Benson Mortgages obtain a credit report. I/We acknowledge that the completion of a mortgage application could take time and it might entail the pulling of additional credit reports. I/We permit Benson Mortgages to pull one additional credit report up to six (6) months from the date signed below. I/We also authorize Benson Mortgages to exchange such credit information for the purpose of securing mortgage financing to potential mortgage lenders, mortgage insurers or service providers. Benson Mortgages will retain the application and credit information whether or not the mortgage is approved.

Benson Mortgages, on occasion, communicates with its client database via email. The content provides insight into mortgage and financial information. I/We consent to receiving the email communications.

I/We have read, understood, and received a copy of this Privacy/Suitability/Consent agreement.