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Privacy Policy

Our Privacy Policy

We want you to be confident that the personal information you provide to us is treated with the highest degree of integrity and privacy. However, it is equally important to us that we provide the best possible service across our wide range of products and services. To achieve this aim we need to make the most efficient use of your personal information. We recognise that any personal information we collect about you will only be used for the purposes we have collected it or as allowed under the law. It is important to us that you are confident that any personal information we hold about you will be treated in a way which ensures protection of your personal information. In handling your personal information, we are committed to complying with the Privacy Act and Australian Privacy Principles.

What is “personal information”

Personal information is any information or opinion about you in which you are identified, or in which your identity can reasonably be ascertained from the information or opinion. It does not matter whether the information or opinion is true or not, or whether it is recorded in a material form or not. The personal information we hold about you may include credit information.

Credit information is information which is used to assess your eligibility to be provided with finance and may include any finance that you have outstanding, your repayment history in respect of those loans, and any defaults. Usually, credit information is exchanged between credit and finance providers and credit reporting bodies.

The kinds of personal information we may collect about you include your name, date of birth, address, account details, occupation, and any other information we made need to identify you.

If you are applying for finance, we may also collect the ages and number of your dependents and cohabitants, the length of time at your current address, your employment details and proof of earnings, expenses and other financial information. If you apply for any insurance product through us we may also collect your health information. We will only collect health information from you with your consent.

Collection of information

We collect personal information for the purposes of assessing your application for finance and managing that finance. We may also collect your personal information for the purposes of direct marketing and managing our relationship with you. From time to time we may offer you other products and services.

Collecting your personal information also allows us to identify and protect your personal information, including account information and services, from unauthorised access. We will only collect such personal information if it is necessary to provide our products and services.

Where possible we collect your personal information directly from you. You provide this information to us when request products and services or make an enquiry. We may also collect your personal information from credit reporting bodies, finance brokers and other people such as accountants and lawyers.

In most cases we will request your consent to any collection and take reasonable steps to ensure that you are made aware of who we are, the purpose of the collection, how you can access your information and who we may disclose your information to.

It will typically be necessary for us to identify you in order to successfully do business with you. However, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information. For example, if you make general inquiries about interest rates or current promotional offers.

How information is collected from other sources

Sometimes we will collect information about you from other sources as the Privacy Act 1988 permits. We will do this only if it’s reasonably necessary to do so, for example, where:

  • we collect information from third parties about a loan or lease in relation to which you seek our services;
  • we can’t get hold of you and we rely on public information (for example, from public registers or social media) or made available by third parties to update your contact details; or
  • we exchange information with your legal or financial advisers or other representatives.

When the law authorises or requires collection of information

Some law may require us to collect personal information about you. For example, we may require your information to verify your identity under Australian Anti-Money Laundering law.

How your information may be used

We may use your information for purposes including:

  • giving you credit assistance;
  • giving you information about loan products or related services including help, guidance and advice;
  • considering whether you are eligible for a loan or lease or any related service you requested including identifying or verifying you or your authority to act on behalf of a customer;
  • assisting you to prepare an application for a lease or a loan;
  • administering services, we provide, for example, to answer requests or deal with complaints;
  • administering payments, we receive, or any payments we make, relating to your loan or lease;
  • telling you about other products or services we make available and that may be of interest to you, unless you tell us not to;
  • identifying opportunities to improve our service to you and improving our service to you;
  • telling you about other suppliers, with whom we have arrangements, that supply goods or services that may be of interest to you;
  • allowing us to run our business efficiently and perform general administrative tasks;
  • preventing or investigating any fraud or crime or any suspected fraud or crime;
  • as required by law, regulation or codes binding us; and
  • any purpose to which you have consented.

You can let us know at any time if you no longer wish to receive direct marketing offers from us. We will process your request as soon as practicable.

What happens if you don’t provide information

If you don’t provide your information to us, it may not be possible to:

  • assist in finding a loan or lease relevant to your circumstances;
  • verify your identity or protect against fraud; or
  • let you know about products or services that might be suitable for your financial needs.

Sharing Your Information

General

We may use and share your information with other organisations for any purpose described above.

Sharing with your representatives and referees

We may share your information with:

  • your representative or any person acting on your behalf (for example, lawyers, settlement agents, accountants or real estate agents); and
  • your referees, like your employer, to confirm details about you.

Sharing with third parties

We may share your information with third parties in relation to services we provide to you or goods or services in which we reasonably consider you may be interested. Those third parties may include:

  • the Broker Group through whom we may submit loan or lease applications to lenders or lessors on the Broker Group’s panel. You can view our Broker Group’s privacy notice at http://www.choiceaggregationservices.com.au/borrower-privacy-statement. It sets out how that Broker Group manages your personal information and where you can find its privacy policy;
  • the Licensee, BLSSA Pty Ltd, that authorises us to engage in credit activities. You can view BLSSA’s privacy notice at the same internet address as our Broker Group’s privacy notice. It sets out how BLSSA manages your personal information and where you can find its privacy policy;
  • referrers that referred your business to us;
  • financial services suppliers with whom we have arrangements;
  • valuers;
  • lenders, lessors, lender’s mortgage insurers and other loan or lease intermediaries;
  • organisations, like fraud reporting agencies, that may identify, investigate and/or prevent fraud, suspected fraud, crimes, suspected crimes, or other misconduct;
  • government or regulatory bodies as required or authorised by law. In some instances, these bodies may share the information with relevant foreign authorities;
  • guarantors and prospective guarantors of your loan or lease;
  • service providers, agents, contractors and advisers that assist us to conduct our business for purposes including, without limitation, storing or analysing information; 
  • any organisation that wishes to take an interest in our business or assets; and
  • any third party to which you consent to us sharing your information.

We may disclose your personal information to overseas entities that provide support functions to us. You may obtain more information about these entities by contacting us.

Information about other people

If you give information to us about another person (like your co-applicant) in relation to the services we provide, you will let that other person know that:

  • we have collected their information to provide those services or for any other purpose set out in this privacy notice; • we may exchange this information with other organisations set out in this privacy notice;
  • we handle their personal information in the way set out in our Privacy Policy and this privacy notice and they can:
    • access or request a copy of that privacy policy or this privacy notice; or
    •  access the information we hold about that other person, by using our contact details above; and
  • we may not be able to provide those services to you unless we obtain their information.

Security and storage

Sharing outside of Australia

We are not likely to disclose your information to organisations overseas. However, we may store your information in cloud or other types of networked or electronic storage. As electronic or networked storage can be accessed from various countries via an internet connection, it’s not always practicable to know in which country your information may be held.

Direct marketing

From time to time we may use your personal information to provide you with current information about finance, offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company with whom we are associated.

If you do not wish to receive marketing information, you may at any time decline to receive such information by telephoning us on 0431 843 090 or email at shree@lendingmart.com.au If the direct marketing is by email you may also use the unsubscribe function. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.

Ensuring your personal information is up-to-date

We rely on the personal information we hold about you to efficiently conduct our business of providing or arranging products and services. For this reason, it is very important that the personal information we collect from you is accurate, complete and up-to-date.

During the course of our relationship with you we may ask you to tell us of any changes to your personal information. We also invite you to contact us at any time to update or correct your personal information.

Access and correction to your personal information

You may request access to any of the personal information we hold about you. In most cases, details of the personal information we hold about you is available by contacting us.

If the information you seek is not readily available, for example, archived data, then we will endeavor to provide this to you within 30 days of your request. We reserve the right to charge you a fee for this retrieval.

We may be required by law or by good business practice to retain your personal information for a period of time after you have ceased your relationship with us. After the required time has passed we attend to the secure destruction or deletion of your personal information.

We are not always required to provide you with access to your personal information upon your request.

We may refuse you access to personal information in a number of circumstances, such as where the information may relate to existing or anticipated legal proceedings with you, where denying access is required or authorise by law, or where the request for access is regarded as frivolous or vexatious.

If we deny your request for access to, or refuse your request to correct your personal information, we will explain why and will keep a record of your request on our file.

If any of the personal information we hold about you is incorrect, inaccurate or out of date you may request that we correct the information. If appropriate we will correct the personal information. At the time of the request, otherwise, we will provide an initial response to you within seven days of receiving your request. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal information within 30 days.

If we refuse to correct personal information we will provide you with our reasons for not correcting the information.

Using government identifiers

If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.

Collection of sensitive information

Personal information concerning particular topics is regarded as sensitive information. Sensitive information includes information about your:

  • racial or ethnic origin; political opinions; membership of a political association; religious beliefs or affiliations; philosophical beliefs; membership of a professional or trade association; membership of a trade union; sexual preferences or practices; criminal record; and health

We generally have very limited need to obtain such information, however if such information is needed then it will only be obtained and/or used with your consent. If, in the course of arranging your application or facilities, such information does come into our possession from a third party, we will seek your consent to collect, store and use this should we consider such use necessary in your application.

Our Privacy Policy may change from time to time

We constantly review all our policies and procedures to keep up to date with changes in the law, technology and market practice. As a result we may change this Privacy Policy from time to time.

This Privacy Policy was last amended in 1st Jan 2020.

Let us help you get the loan that befits you. Talk to us!

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LendingMart is the trading name of Lendingmart Pty Ltd (ACN 636 022 690, Corporate Credit Representative 520073), of BLSSA Pty Ltd (ACN 117 651 760 Australian Credit license 391237)

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

**Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

IMPORTANT INFORMATION: Loan Terms of between 1 Year and 30 Years are available subject to lender and credit criteria. Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve, based on the accuracy of the information provided. It doesn’t take into account any product features or any applicable fees. Lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user-inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.

© All rights reserved. LendingMart.com.au 2020

Standard Variable

Variable interest rate home loans come in two forms, standard variable and basic variable. Both of these variable home loans work in a similar way but the main difference is the interest rate charged and how much flexibility is available.

A variable interest rate home loan is affected by economic conditions both within Australia and around the world, so you can expect your home loan repayments to rise and fall over the term of your loan.

VARIABLE INTEREST RATE HOME LOANS PROS

  • Your home loan repayments will fall when interest rates fall
  • You will have the opportunity to reduce your home loan balance faster
  • Can be very flexible and will often allow unlimited additional repayments
  • The average variable interest rate is generally lower than a fixed home loan rate

VARIABLE INTEREST RATE HOME LOANS CONS

  • Your home loan repayments will fall when interest rates fall
  • You will have the opportunity to reduce your home loan balance faster
  • Can be very flexible and will often allow unlimited additional repayments
  • The average variable interest rate is generally lower than a fixed home loan rate

Variable Home Loan Differences

BASIC VARIABLE

  • Low interest rate (lower than a standard variable loan) no frills loan
  • Rate is variable so it moves in line with Reserve Bank changes
  • Limited features (e.g. usually no access to offset facilities & more expensive redraw if at all)
  • Most allow extra repayments
  • Most have terms of 25 or 30 years

STANDARD VARIABLE

  • The most popular type of mortgage
  • A higher interest rate than a basic variable home loan
  • Interest rates can move up or down which will cause your repayments to increase or decrease with the move
  • It is more flexible than a basic variable mortgage thus allowing you to make extra repayments without penalty as well as offering other features
  • Most have terms of 25 or 30 years

 

WHAT YOU NEED TO KNOW:

 

Terms and conditions, fees and charges, normal lending criteria apply. New clients only, and may be withdrawn at any time. LVR < 75% and for loans $200,000 or more.

Annual fee from $395 applies. Comparison rate based on a loan of $150,000 over 25 years.


WARNING: The comparison rate is true only for the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate. Terms and conditions, fees and charges, normal lending criteria apply. Details available on request.

2 years fixed

Fixed interest rate home loans offers you a fixed interest rate so you have a fixed repayment amount over a set term, usually between 1 year and 10 years. The most commonly used fixed interest rate term in Australia is 2 years.

A fixed interest rate home loan is set by your lender; they borrow money from the wholesale money markets and then sells’ this on to you. The cost to the lender of borrowing this money is determined by what the money markets believe interest rates will do over a set term. Your lender will then add a margin to this, the final interest rate is then offered to you for the fixed term you are applying for.

FIXED INTEREST RATE HOME LOANS PROS
  • You will know how much your loan repayments will be for a fixed period, regardless of market interest rate changes
  • Protects you against interest rate rises
  • You can pick the time period to suit you; fixed terms are available from 1 year to 10 years
FIXED INTEREST RATE HOME LOANS CONS
  • May be less flexible than a variable home loan rate, limiting additional repayment options and excluding the option to redraw
  • If your circumstances change and you want and/or need to exit the loan early, early exit fees will apply
  • Over the term of your loan you may end up paying more than if you had selected a variable home loan, even in a rising interest rate market

Basic Variable

Variable interest rate home loans come in two forms, standard variable and basic variable. Both of these variable home loans work in a similar way but the main difference is the interest rate charged and how much flexibility is available.

A variable interest rate home loan is affected by economic conditions both within Australia and around the world, so you can expect your home loan repayments to rise and fall over the term of your loan.

VARIABLE INTEREST RATE HOME LOANS PROS

  • Your home loan repayments will fall when interest rates fall
  • You will have the opportunity to reduce your home loan balance faster
  • Can be very flexible and will often allow unlimited additional repayments
  • The average variable interest rate is generally lower than a fixed home loan rate

VARIABLE INTEREST RATE HOME LOANS CONS

  • Your home loan repayments will fall when interest rates fall
  • You will have the opportunity to reduce your home loan balance faster
  • Can be very flexible and will often allow unlimited additional repayments
  • The average variable interest rate is generally lower than a fixed home loan rate

Variable Home Loan Differences

BASIC VARIABLE

  • Low interest rate (lower than a standard variable loan) no frills loan
  • Rate is variable so it moves in line with Reserve Bank changes
  • Limited features (e.g. usually no access to offset facilities & more expensive redraw if at all)
  • Most allow extra repayments
  • Most have terms of 25 or 30 years

STANDARD VARIABLE

  • The most popular type of mortgage
  • A higher interest rate than a basic variable home loan
  • Interest rates can move up or down which will cause your repayments to increase or decrease with the move
  • It is more flexible than a basic variable mortgage thus allowing you to make extra repayments without penalty as well as offering other features
  • Most have terms of 25 or 30 years

 

WHAT YOU NEED TO KNOW:

 

Terms and conditions, fees and charges, normal lending criteria apply. New clients only, and may be withdrawn at any time. LVR < 75% and for loans $200,000 or more.

Annual fee from $395 applies. Comparison rate based on a loan of $150,000 over 25 years.


WARNING: The comparison rate is true only for the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate. Terms and conditions, fees and charges, normal lending criteria apply. Details available on request.