Terms and Conditions

BlueShore Financial Credit Union (“BlueShore Financial”) offers the New Mortgage Cashback Program to members that obtain a qualifying mortgage loan and make mortgage payments from a chequing account at BlueShore Financial.  These Terms and Conditions govern the New Mortgage Cashback Program.  The New Mortgage Cashback Program runs from June 6, 2022 at 12:00 AM PST until September 30th, 2022 11:59 PM PST (the “Program Period”).

The New Mortgage Cashback Program consists of the following:

  • For qualifying mortgage loans between $250,000 to $999,999:
  1. $2000 cashback; and
  2. Waived monthly fees for an Unlimited Chequing account for the duration of the mortgage loan.
  • For qualifying mortgage loans $1,000,000 or more:
  1. $2000 cashback;
  2. Up to $1500 reimbursement of legal and appraisal fees relating to the mortgage; and
  3. Waived monthly fees for a Premium Chequing account for the duration of your mortgage loan.

The cashback and reimbursement of legal and appraisal fees, if applicable, will be deposited to your savings or chequing (non-registered) account within 30 business days of advancing your mortgage loan.  

Qualifying Mortgage Loans  

A qualifying mortgage loan must be:

  1. a fixed rate mortgage loan with a closed term of 5 years or more in the amount of $250,000 or more;
  2. a new mortgage loan registration (not a renewal or refinancing of an existing mortgage loan at BlueShore Financial); and
  3. approved (subject to standard lending guidelines) during the Program Period and advanced by the deadline referenced in the Residential Commitment Letter.

Other Eligibility Requirements, Conditions or Restrictions

To be eligible for the New Mortgage Cashback Program,

  1. you must be or become a member of BlueShore Financial and make mortgage payments from your chequing account at BlueShore Financial;
  2. you and any other borrowers on the qualifying mortgage loan have not participated in the New Mortgage Cashback Program during the Program Period; and
  3. you are not an employees of BlueShore Financial.

The following additional conditions or restrictions apply:

  1. The New Mortgage Cashback Program does not apply to open mortgages, lines of credit/personal loans secured by a mortgage, or commercial mortgages.
  2. The cashback and reimbursement of legal and appraisal fees are considered Incentives under the Residential Term Loan Agreement which means that if you prepay your mortgage loan, you may be required to pay the unamortized portion of the Incentives back.
  3. Any benefits under the New Mortgage Cashback Program are not transferrable or assignable.
  4. Substitutions are not permitted.
  5. The New Mortgage Cashback Program cannot be combined with any other BlueShore Financial offer or promotion.
  6. BlueShore Financial may amend, extend or cancel the New Mortgage Cashback Program, at its sole discretion, at any time without prior notice.
  7. BlueShore Financial reserves the right to refuse or terminate a member’s participation in the New Mortgage Cashback Program if it suspect or discovers that the member is abusing the proper and intended operation of the Program.
  8. You are fully responsible for any tax obligations arising from the New Mortgage Cashback Program. BlueShore Financial has not provided any tax advice nor has any responsibility relating to your tax obligations.
  9. You consent to BlueShore Financial’s collection, use and disclosure of your personal information for the administration of the New Mortgage Cashback Program in accordance with BlueShore Financial’s Privacy Notice on its website. You also consent to BlueShore Financial using aggregated and anonymized information from your personal information to generate reports regarding the New Mortgage Cashback Program.
  10. If any part of these Terms and Conditions is invalid or unenforceable, then the remaining parts will remain in full force and effect.
  11. This Agreement shall be governed by the laws of the Province of British Columbia.

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