Terms and Conditions
Terms and Conditions
CREDIT AND PERSONAL INFORMATION PRIVACY
The Privacy Act 1988 (‘Act’) regulates the obtaining, use and disclosure of certain personal and credit information about you. For more information, please refer to the Credit Provider’s website.
Please read the following consent carefully and obtain appropriate professional advice if it contains anything that you do not clearly understand.
Respecting your privacy
This Policy also includes our credit reporting policy, that is, it covers additional information on how we manage your personal information collected in connection with a credit application, or a credit facility. We refer to this credit-related information below as credit information.
The types of information that we collect and hold about you could include:
- ID information such as your name, postal or email address, telephone numbers, and date of birth
- other contact details such as social media handles
- financial details such as your tax file number
- health information
- credit information such as details relating to credit history, credit capacity, and eligibility for credit (“credit worthiness”), and
- other information we think is necessary.
Information from a credit reporting body
When we’re checking your credit worthiness and at other times, we might collect information about you from and give it to credit reporting bodies. This information can include:
ID information: a record of your name(s) (including an alias or previous name), date of birth, gender, current or last known address and previous two addresses, name of current or last known employer and drivers licence number.
Information request: a record of a lender asking a credit reporting body for information in relation to a credit application, including the type and amount of credit applied for.
Default information: a record of your consumer credit1 payments being overdue.
Serious credit infringement: a record of when a lender reasonably believes that there has been a fraud relating to your consumer credit or that you have avoided paying your consumer credit payments and the credit provider can’t find you.
Personal insolvency information: a record relating to your bankruptcy or your entry into a debt agreement or personal insolvency agreement.
Court proceedings information: an Australian court judgment relating to your credit.
Publicly available information: a record relating to your activities in Australia and your credit worthiness.
Consumer credit liability information: certain details relating to your consumer credit, such as the name of the credit provider, whether the credit provider has an Australian Credit Licence, the type of consumer credit, the day on which the consumer credit was entered into and terminated, the maximum amount of credit available and certain repayment terms and conditions.
Repayment history information: a record of whether or not you’ve made monthly consumer credit payments and when they were paid.
Payment information: If a lender gave a credit reporting body default information about you and the overdue amount is paid, a statement that the payment has been made.
New arrangement information: If a lender gave a credit reporting body default information about you and your consumer credit contract is varied or replaced, a statement about this.
We base some things on the information we get from credit reporting bodies, such as:
- our summaries of what the credit reporting bodies tell us, and
- credit scores.
A credit score is a calculation that lets us know how likely a credit applicant will repay credit we may make available to them.
Information that we get from a credit reporting body or information we derive from such information is known as credit eligibility information.
What sensitive information do we collect?
Sometimes we need to collect sensitive information3 about you, for instance in relation to some insurance applications. This could include things like medical checks, medical consultation reports or other information about your health. Unless required by law, we will only collect sensitive information with your consent.
When the law authorises or requires us to collect information
We may collect information about you because we are required or authorised by law to collect it. There are laws that affect financial institutions, including company and tax law, which require us to collect personal information. For example, we require personal information to verify your identity under Commonwealth Anti-Money Laundering law.
How we collect and hold your information
We understand that your personal information needs to be looked after and isn’t something you leave lying around for just anybody to take. So unless it’s unreasonable or impracticable, we will try to collect personal information directly from you (referred to as “solicited information”). For this reason, it’s important that you help us to do this and keep your contact details up-to-date.
There are many ways we seek information from you. We might collect your information when you fill out a form with us, when you’ve given us a call, used our websites or dropped into of office. We also find using electronic means, such as email or SMS, a convenient way to communicate with you and to verify your details.
How we collect your information from other sources
Sometimes we collect information about you from other sources. We do this only if it’s necessary to do so. Instances of when we may need to include where:
- we can’t get hold of you and we rely on publicly available information to update your contact details
- we are checking the security you are offering through public registers and our service providers, and
- at your request, we exchange information with your legal or financial advisers or other representatives.
How we collect and hold your credit information
We will collect your credit information from details included in your application for credit (whether paper based, phone or electronic). In addition to what we say above about collecting information from other sources, other main sources for collecting credit information are:
- credit reporting bodies
- other credit providers
- your co-loan applicants or co-borrowers
- your guarantors/proposed guarantors
- your employer, accountant, real estate agent or other referees
- your agents and other representatives like your referrers, brokers, solicitors, conveyancers and settlement agents
- organisations that help us to process credit applications such as mortgage managers
- organisations that check the security you are offering such as valuers
- organisations involved in the securitisation of our loans such as loan servicers, trust managers, trustees and security trustees
- organisations providing lenders mortgage insurance and title insurance to us or our related lenders
- bodies that issue identification documents to help us check your identity, and
- our service providers involved in helping us to provide credit or to administer credit products, including our debt collectors and our legal advisers.
What if you don’t want to provide us with your personal information?
If you don’t provide your personal information to us, we may not be able to:
- provide you with the product or service you want
- manage or administer your product or service, or
- verify your identity or protect against fraud.
How do you make a complaint?
If you have a complaint about how we handle your personal information, we want to hear from you. You are always welcome to contact us.
You can email firstname.lastname@example.org
We are committed to resolving your complaint and doing the right thing by our customers.
Declaration and Consent
You acknowledge that if your application is approved it will be subject to the Credit Provider’s loan terms and conditions.
You acknowledge and agree that regardless of whether this application is approved or your loan proceeds to settlement, you agree to pay us any costs that we advise you will be incurred when you authorise us to instruct solicitors, valuers or other experts relevant to your loan application.
You declare that any information contained in your application including all financial information is true and correct.
You acknowledge that we will not accept updates to the information provided in your application for a period of 14 days from the date of the application.
You authorise your solicitor or conveyancer to accept any notification on your behalf in relation to your application.
You declare that you are over the age of 18 and have never been bankrupt or made arrangements with creditors under bankruptcy legislation.
You agree and consent to your credit information, credit eligibility information, credit reporting information and personal information being collected, used and disclosed in the manner and for the purposes set out in the Privacy Notice.
If you are an individual applying for a loan, you agree and consent to Secured Lending:
- seeking and using your credit reporting information and credit eligibility information for the purpose of assessing this application for credit or collecting payments that are overdue in relation to credit provided by the Credit Provider
- using your credit eligibility information for internal management purposes that are directly related to the provision or management of credit
- exchanging any information about your credit worthiness, credit standing history or credit capacity with any Australian credit provider or the information provided by a credit reporting body for purposes including assessing an application for credit or collecting overdue payments
- disclosing (where required) your credit eligibility information and credit reporting information to:
- a proposed guarantor for the purpose of the proposed guarantor considering whether to offer to act as a guarantor or offer property as security for credit provided to or applied for by you
- a guarantor for a purpose related to the enforcement or proposed enforcement of a guarantee which a guarantor has provided to the Credit Provider in relation to credit provided to you.
You authorise us to give any of your personal information, including information contained in your application, to any related entity or alliance partner of the Credit Provider and for us and our related entities or alliance partners to use such information, for the purposes of enabling you to keep up to date with other products and services.
If you do not want us or our related entities or alliance partners to use the personal information contained in your application form to provide such information to you, simply contact Secured Lending during normal business hours on 1300 795 175.
You declare that the credit to be provided to you by the Credit Provider is to be applied wholly or predominantly for business or investment purposes (or for both purposes).