Show us your Big-6 offer. We’ll try to beat it.
If we can’t, we pay you $500.
Bring a written rate offer from RBC, TD, Scotiabank, BMO, CIBC, or National Bank. On a comparable product we shop our 100+ lender network to beat it. On the rare file where a bank genuinely wins, we e-transfer you $500 in 5 business days — or donate it to your favourite charity.
Guaranteed — cash or charity
If we can’t beat an eligible Big-6 written offer like-for-like, we e-transfer $500 to you — or donate it to a registered charity you name. No forms to chase. No games.
Conditions apply · Ontario properties only · FSRA #13737
Four steps. One promise.
From submitting your offer to getting beaten — or getting paid.
Email info@mortgagesquad.ca, upload through the apply form, or drop it in during a call. We need a written offer with your name, the rate, term and product.
Our team shops your file across 100+ lenders to find a comparable product — every term and condition compared apples-to-apples.
If we match-and-beat your offer on a comparable product, we proceed. If we cannot, you receive $500 by e-transfer — or donate it to your favourite charity.
Either way you win: a better rate, or $500 in your pocket (or your charity's). No risk, no pressure to proceed.
The exact terms — plain language.
No hidden traps. Here is everything that qualifies, what counts as a comparable product, and how the $500 is paid.
- A written rate offer or commitment letter from RBC, TD, Scotiabank, BMO, CIBC, or National Bank
- Issued in your name, dated within the last 30 days, and still being held open
- For a mortgage you personally qualify for, with a complete application and supporting documents
- Clearly shows the rate, term, rate type, and product so we can compare like-for-like
- Purchase, refinance, renewal, switch, or transfer — all welcome
- Owner-occupied, second home, or rental properties
- Mortgage amount of $100,000 or more
- Same lender class — a major-bank offer matched against a major-bank-comparable product
- Same term length — 5-year to 5-year, 3-year to 3-year
- Same rate type — fixed-to-fixed or variable-to-variable
- Same insurability — insured, insurable, and uninsured each matched to their class
- Same prepayment privileges, portability, and assumability
- Same amortization and Canadian semi-annual compounding
- Benchmarked on the day you submit, since lender rates move daily
- Sent by Interac e-transfer within 5 business days of our benchmark email confirming we cannot beat your offer
- Prefer to give it away? Name a registered charity and we'll donate the $500 on your behalf
- No claim form — we initiate the payment automatically
- One claim per household per term (you can claim again at your next renewal)
- Applies to Ontario properties arranged through our FSRA-licensed brokerage (#13737)
- ✕Verbal quotes, screenshots, online rate-estimator results, or comparison-site teaser rates — we need a real written offer with your name on it
- ✕Offers that have expired or are no longer being held open
- ✕Promotional, employee, or relationship-priced rates that aren't generally available to the public
- ✕Rates that require bundling unrelated products (investments, insurance, deposits) that we can't replicate
- ✕Quotes based on incorrect information, or where you don't actually qualify as offered
- ✕Specialty or one-off products outside standard A-lender programs
A homeowner’s Big-6 bank offers a 5-year fixed renewal at an assumed 4.79%. They send the written offer to us, and we benchmark a comparable 5-year fixed product (same insurability, prepayment terms and closing window) at an assumed 4.49%. On a $375,000 balance with 25 years left, that 0.30% gap is roughly $5,400 less interest over the 5-year term.
Illustrative scenario with assumed rates for the math only. Not a real client, a quote or today’s rates; see today’s rates.
Common questions
Is the $500 really paid out automatically?
Yes. If our benchmark email confirms we can't beat your eligible offer, we send the $500 by Interac e-transfer within 5 business days of that email, with no claim form. You don't have to chase us.
Can I send the $500 to charity instead of keeping it?
Yes — it's your call. If we can't beat your offer, tell us your favourite registered charity and we'll donate the $500 there on your behalf instead of e-transferring it to you. Either way the money moves within 5 business days.
Does this work on a renewal where I'm still with my bank?
Yes. A renewal offer from your Big-6 bank with a specific rate, term and product counts as a written offer, as long as it meets the same terms as any other offer: in your name, dated within the last 30 days and still being held open by the bank. We then benchmark a switch to another lender like-for-like.
What if my Big-6 offer is already low?
We still benchmark it like any other offer. Big-6 banks often quote a 'special offer' they can improve when you bring competition, and broker-channel rates often beat a bank's first offer. If we can't beat an eligible offer on a comparable product, the $500 applies.
Do I have to use you if you beat the rate?
No. We hope you do, since that's how we earn our compensation from the lender, but you're not required to fund with us until you sign a binding commitment. The $500 is paid only when we can't beat your offer; if we beat it and you choose to stay with your bank, no payment is due.
Is there a fee to submit my offer?
No. Submitting your offer is free. There is no broker fee on standard A-lender files (the lender pays our compensation).
How long does the whole process take?
We benchmark within 24 hours of receiving your written offer and complete application. If we beat it, we typically move to a lender commitment within 5-10 business days. If we can't beat it, the $500 e-transfer is sent within 5 business days of our benchmark email.
What if my bank changes their offer after I send it to you?
We benchmark against the rate you sent us, as long as that written offer was valid when you submitted it. If your bank improves its offer afterwards, that's a separate negotiation between you and the bank.
You have nothing to lose — and up to $500 to gain.
Send us your bank offer right now. Worst case, we e-transfer you $500 in five business days. Best case, you save thousands over the life of your mortgage.