Term & Policy
Terms, Privacy, Disclaimer and Credit Guide
Our most popular questions
- We respect your personal information, and this Privacy Policy explains how we handle it. The policy covers Loanbox Pty Ltd.
- 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.
- If you are in a country that is a member of the European Economic Area (EEA), the EU General Data Protection Regulation 2016/679 (‘GDPR’) governs the way we collect, use, hold, process and disclose your personal information. Under the GDPR, we are a data controller. We make decisions on how and why your personal information is processed.
- 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; and
- • other information we think is necessary.
- We may collect information about you because we are required or authorised by law to collect it. There are laws which require us to collect personal information. For example, we require personal information to verify your identity under Australian Anti-Money Laundering law.
- If you’re an internet customer of ours, we monitor your use of internet services to ensure we can verify you and can receive information from us, and to identify ways we can improve our services for you.
- If you start but don’t submit an on-line application, we can contact you using any of the contact details you’ve supplied to offer help completing it. The information in applications will be kept temporarily then destroyed if the application is not completed.
- We also know that some customers like to engage with us through social media channels. We may collect information about you when you interact with us through these channels. However, for all confidential matters, we’ll ensure we interact with you via a secure forum.
- To improve our services and products, we sometimes collect de-identified information from web users. That information could include IP addresses or geographical information to ensure your use of our web applications is secure.
- 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 a number of ways in which we may seek information from you. We might collect your information when you fill out a form with us, when you’ve given us a call or used our website. We also find using electronic means, such as email or SMS, a convenient way to communicate with you and to verify your details .
- 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 the loan or lease made available to you arising out of the services we provide you;
- • 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.
- If you don’t provide your information to us, it may not be possible:
- • for us to give you the credit assistance you seek from us;
- • to assist in finding a loan or lease relevant to your circumstances;
- • verify your identity or protect against fraud; or
- • to let you know about other products or services that might be suitable for your financial needs.
- We will collect your credit information in the course of you answering the enquiries we make of you relating to the credit assistance you seek from us. In addition to what we say above about collecting information from other sources, other main sources for collecting credit information are:
- • 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 the person who referred your business to us, your solicitors, conveyancers and settlement agents;
- • organisations that help us to process credit applications;
- • organisations that check the security you are offering such as valuers;
- • bodies that issue identification documents to help us check your identity; and
- • our service providers involved in helping us to process any application you make for credit through us.
- Sometimes, people share information with us we haven’t sought out (referred to as ‘unsolicited information’). Where we receive unsolicited personal information about you, we will check whether that information is reasonably necessary for our functions or activities. If it is, we’ll handle this information the same way we do with other information we seek from you. If not, we’ll ensure we do the right thing and destroy or de-identify it.
- When we receive personal information from you directly, we’ll take reasonable steps to notify you how and why we collected your information, who we may disclose it to and outline how you can access it, seek correction of it or make a complaint.
- Sometimes we collect your personal information from third parties. You may not be aware that we have done so. If we collect information that can be used to identify you, we will take reasonable steps to notify you of that collection.
- We store information in different ways, including in paper and electronic form. The security of your personal information is important to us and we take reasonable steps to protect it from misuse, interference and loss, and from unauthorised access, modification or disclosure. Some of the ways we do this are:
- • document storage security policies;
- • security measures for access to our systems; and
- • only giving access to personal information to a person who is verified to be able to receive that information
- We may store personal information physically or electronically with third party data storage providers. Where we do this, we use contractual arrangements to ensure those providers take appropriate measures to protect that information and restrict the uses to which they can put that information.
- We’ll only keep your information for as long as we require it for our purposes. We may be required to keep some of your information for certain periods of time under law. When we no longer require your information, we’ll ensure that your information is destroyed or de-identified.
- Collecting your personal information allows us to provide you with the products and services you’ve asked for. This means we can use your information to:
- • give you credit assistance;
- • give you information about loan products or related services including help, guidance and advice;
- • consider 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;
- • assist you to prepare an application for a lease or a loan;
- • administer services we provide, for example, to answer requests or deal with complaints; and
- • administer payments we receive, or any payments we make, relating to your loan or lease.
- We may use or disclose your personal information to let you know about other products or services we or a third party make available and that may be of interest to you.
- We will always let you know that you can opt out from receiving marketing offers.
- With your consent, we may disclose your personal information to third parties for the purpose of connecting you with other businesses or customers. You can ask us not to do this at any time. We won’t sell your personal information to any organisation.
- Yes, You Can Opt-Out
- 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.
- We’ve just told you some of the main reasons why we collect your information, so here’s some more insight into the ways we use your personal information including:
- • 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;
- • allowing us to run our business efficiently and perform general administrative tasks;
- • preventing 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.
- Under the GDPR, we must have a legal ground in order to process your personal information. The legal grounds that we may rely on are:
- • Performance of our contract with you;
- • Compliance with a legal obligation;
- • Where you have provided your consent; and
- • For our legitimate interests: our main legitimate interests for processing your personal information are: fraud, security, due diligence, business operations and direct marketing.
- We required to keep some of your information for certain periods of time under law, such as the Corporations Act, the Anti-Money Laundering & Counter-Terrorism Financing Act, and the Financial Transaction Reports Act for example.
- We are required to keep your information for 7 years from the closure of accounts, or otherwise as required for our business operations or by applicable laws.
- We may need to retain certain personal information after we cease providing you with products or services to enforce our terms, for fraud prevention, to identify, issue or resolve legal claims and/or for proper record keeping.
- To make sure we can meet your specific needs and for the purposes described in ‘How we use your personal information’, we sometimes need to share your personal information with others. We may share your information with other organisations for any purposes for which we use your information.
- We may use and share your information with other organisations for any purpose described above.
- 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.
- We may share your information with third parties in relation to services we provide to you. Those third parties may include:
- • the mortgage aggregator through whom we may submit loan or lease applications to lenders or lessors on the mortgage aggregator’s panel;
- • the Australian Credit Licence holder that authorises us to engage in credit activities;
- • referrers that referred your business to us;
- • 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 (including ASIC and the Australian Taxation Office) 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 use overseas organisations to help conduct our business. As a result, we may need to share some of your information (including credit information) with such organisations outside Australia. The countries in which those organisations are located are:
- • N/A
- 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. If your information is stored in this way, disclosures may occur in countries other than those listed.
- Overseas organisations may be required to disclose information we share with them under a foreign law. In those instances, we will not be responsible for that disclosure.
- Where we transfer your information from the EEA’ to a recipient outside the EEA we will ensure that an adequate level of protection is in place to protect your personal information such as putting in place contractual protections to ensure the security of your information.
- We‘ll always give you access to your personal information unless there are certain legal reasons why we can’t. You can ask us in writing to access your personal information that we hold. In some cases we may be able to deal with your request over the phone.
- We will give you access to your information in the form you want it where it’s reasonable and practical. We may charge you a small fee to cover our costs when giving you access, but we’ll always check with you first.
- We’re not always required to give you access to your personal information. Some of the situations where we don’t have to give you access include when:
- • we believe there is a threat to life or public safety;
- • there is an unreasonable impact on other individuals;
- • the request is frivolous;
- • the information wouldn’t be ordinarily accessible because of legal proceedings;
- • it would prejudice negotiations with you;
- • it would be unlawful;
- • it would jeopardise taking action against serious misconduct by you;
- • it would be likely to harm the activities of an enforcement body (e.g. the police); or
- • it would harm the confidentiality of our commercial information.
- If we can’t provide your information in the way you’ve requested, we will tell you why in writing. If you have concerns, you can complain. See ‘Contact Us’.
- Contact us if you think there is something wrong with the information we hold about you and we’ll try to correct it if it’s:
- • inaccurate;
- • out of date;
- • incomplete;
- • irrelevant; or
- • misleading.
- If you are worried that we have given incorrect information to others, you can ask us to tell them about the correction. We’ll try and help where we can - if we can’t, then we’ll let you know in writing.
- If you ask us to correct credit information, we will help you with this in the following way.
- Whether we made the mistake or someone else made it, we are required to help you ask for the information to be corrected. So we can do this, we might need to talk to others. However, the most efficient way for you to make a correction request is to send it to the organisation which made the mistake.
- If we’re able to correct the information, we’ll let you know within five business days of deciding to do this. We’ll also let the relevant third parties know as well as any others you tell us about. If there are any instances where we can’t do this, then we’ll let you know in writing.
- If we’re unable to correct your information, we’ll explain why in writing within five business days of making this decision. If you have any concerns, you can access our external dispute resolution scheme or make a complaint to the Office of the Australian Information Commissioner.
- If we agree to correct your information, we’ll do so within 30 days from when you asked us, or a longer period that’s been agreed by you.
- If we can’t make corrections within a 30 day time frame or the agreed time frame, we must:
- • let you know about the delay, the reasons for it and when we expect to resolve the matter;
- • ask you to agree in writing to give us more time; and
- • let you know you can complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner.
- 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 contact us by using the details below
- Phone: 1300 965 688
- Email: info@loanbox.co
- We are committed to resolving your complaint and doing the right thing by our customers. Most complaints are resolved quickly, and you should hear from us within five business days.
- If you still feel your issue hasn't been resolved to your satisfaction, then you can raise your concern with the Office of the Australian Information Commissioner:
- • Online: www.oaic.gov.au/privacy
- • Phone: 1300 363 992
- • Email: enquiries@oaic.gov.au
- • Fax: +61 2 9284 9666
- • Mail: GPO Box 5218 Sydney NSW 2001 or GPO Box 2999 Canberra ACT 2601
- If you are located in the EEA, you can contact the relevant data protection authority (for example in the place you reside or where you believe we breached your rights). For example, the Office of the UK Information Commissioner:
- Office of the UK Information Commissioner
- • Online: www.ico.gov.uk
- • Phone: 0303 123 1113
- • Live chat: https://ico.org.uk/global/contact-us/live-chat
- If your complaint relates to how we handled your access and correction requests
- You may take your complaint directly to our external dispute resolution scheme or the Office of the Australian Information Commissioner. You are not required to let us try to fix it first.
- For all other complaints relating to credit information
- If you make a complaint about things (other than an access request or correction request) in relation to your credit information, we will let you know how we will deal with it within seven days.
- Ask for more time if we can’t fix things in 30 days
- If we can’t fix things within 30 days, we’ll let you know why and how long we think it will take. We will also ask you for an extension of time to fix the matter. If you have any concerns, you may complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner.
- Letting you know about our decision
- We’ll let you know about our decision within 30 days or any longer agreed time frame. If you have any concerns, you may complain to our external dispute resolution scheme or the Office of the Australian Information Commissioner.
- If you reside in the EEA, you can also:
- • object to the processing or your personal information or ask us to delete, or restrict or stop using your personal information. There may be circumstances where we are required to, or entitled to retain or continue using your information.
- • withdraw your consent to our processing of your information. We may continue to process our information if we have another legitimate ground to do so.
- • ask us to send an electronic copy of your personal information, including to another organisation.
- You can contact us if you wish to exercise these rights. See ‘Contact Us’ for more information If we refuse any request you make in relation to these right, we will write to you to explain why and how you can make a complaint about our decision.
- We care about your privacy. Please contact us if you have any questions or comments about our privacy policies and procedures. We welcome your feedback.
- You can contact us by using the details below:
- Phone: 1300 965 688
- Email: info@loanbox.co
- If you have general enquiry type questions, you can choose to do this anonymously or use a pseudonym. We might not always be able to interact with you this way, however, as we are often governed by regulations that require us to know who we’re dealing with. In general, we won’t be able to deal with you anonymously or where you are using a pseudonym when:
- • it is impracticable; or
- • we are required or authorised by law or a court/tribunal order to deal with you personally.
- In certain circumstances we may be required to collect government-related identifiers such as your tax file number. We will not use or disclose this information unless we are authorised by law.
- This Policy may change. We will let you know of any changes to this Policy by posting a notification on our website or you may contact us for a copy of the most up to date policy at any time.
About Us
Loanbox Pty Ltd (ACN 627 253 267), a related body corporate of the licensed credit assistance provider, Blssa Pty Ltd , which holds Australian Credit Licence 391237. Loanbox act on behalf of Blssa Pty Ltd in providing you credit services.
This Credit Guide sets out important information about the licence holder, the credit representative and the services we provide.
Credit License Holder | Blssa Pty Ltd (ACN 117 651 760) |
---|---|
Address | Level 10, 101 Collins St, Melbourne VIC 3000 |
Phone | 03 86161000 |
Fax | 03 86161677 |
Australian Credit Licence No. | 391237 |
External Dispute Resolution (EDR) Scheme Details | |
EDR Scheme Name | Australian Financial Complaints Authority (AFCA) |
Licensee EDR Membership No | 69300 |
What is Credit Assistance?
We give you credit assistance when:- we assist you to apply for a particular loan or lease;
- we suggest you apply for a particular loan or lease (or suggest you apply for an increase to an existing loan); or
- we suggest you remain in your current loan or lease
- the loan or lease or increase will meet your requirements and objectives; and
- you can meet the proposed
- you won’t be able to meet the proposed repayments without substantial hardship; or the loan or lease won’t meet your requirements or objectives.
Preliminary Assessment
What we will need from you
When we provide you with credit assistance, we are legally required to only recommend credit products that are not unsuitable for you. Lendi strives to achieve better customer outcomes and suitable products and services.
To enable us to review which loan products might be suitable for you, we are required to complete a Preliminary Assessment. When we make this preliminary assessment, we will ask you about your requirements and objectives, your financial and personal situation and your ability to repay the loan that you are considering. In assessing these factors, we are also required to take reasonable steps to verify some of the information you provide us. This verification may include asking you for copies of documents that demonstrate your financial situation (in some cases we may also need to sight original documents) and contacting third parties to assist in verifying the information that you provide.
Obtaining a copy of your Preliminary Assessment
You may request a copy of our Preliminary Assessment and we must give you a copy of it within:
- seven (7) days, if the request is made within two (2) years of completion of the document; or
- twenty-one (21) days, if the request is made between two (2) and seven (7) years of the completion of the document.
There is no charge for requesting or receiving a copy of the Preliminary Assessment.
How do we and our Representatives get paid?
We are paid commissions by lenders for introducing customers. The lenders we deal with will usually pay us a commission based on the size of loan and the particular loan product you have selected. We will only be paid this commission if your loan is settled and drawn down. We are also paid an ongoing commission by your lender based on the outstanding balance of your loan.
The commissions that we are paid by your lender are not payable by you (they are paid to us either directly by the lender or by our Aggregator) and do not alter your interest rate
At this stage the amount of fee payable is unascertainable. As part of the application process we will provide you with a Credit Proposal Disclosure Document, which will include an estimate of the commissions we will receive from the Lender if you decide to proceed with the application and the loan settles, and details of how that commission is calculated. You can also request this information from us.
Home Loan Specialists employed by Loanbox pty ltd receive a salary from us and may receive additional performance incentives depending on a number of metrics including successful loan applications, customer satisfaction, and other quality metrics.
Non-monetary remuneration or benefits
Home Loan Specialists may also receive non-monetary benefits, which can include access to tiered servicing programs, conferences, courses, competitions, entertainment benefits, and other forms of hospitality.
Our Home Loan Specialists have access to training and educational courses or seminars run by lenders, aggregators, and third parties, which are intended to assist our staff in understanding lender products. They may also be members of lender tiered servicing programs which can enable them to receive improved service and other benefits. The value of these benefits is usually unascertainable. Where any training or educational courses are organised by Loanbox Pty Ltd, we ensure that access is available to all our Home Loan Specialists.
All our conferences and professional development events are held at suitable locations, are primarily educationally focused, and are aimed at improving consumer outcomes. The ability to attend conferences and access additional educational opportunities are not based on loan volumes written by a broker.
We do not accept entertainment or hospitality benefits above $350 per person per event. We maintain a register of soft-dollar benefits above $100 that we may receive from lenders or aggregators. If you would like to view a copy of this register, please contact us at info@loanbox.co.
Fees and charges payable by you in relation to our credit assistance
We do not charge you a fee for our credit assistance.
Our Top 6 credit providers
We source credit products from a range of banks, lenders and other credit providers. However as at June 2019, we write the most loans with the National Australia Bank, Suncorp, the Commonwealth Bank of Australia, ANZ, Westpac and Resimac.
Other people we deal with
Our Aggregator
We gain access to the loan products we recommend to you through the services of our Aggregator, Blssa Pty Ltd (ACN 117 651 760). In order to gain access to their panel of lenders, our aggregator charges us a monthly fee as well as a transaction fee for each of our loan writers and each of our loan applications.
We also have access to the loan products we recommend to you by way of direct agreements with some lenders.
Referrers and Referral fees
In some cases, your business may have been referred to us by non-regulated third parties such as real estate agents, accountants, financial planners etc. Where this is the case and a referral fee is being paid to these parties, the fee will be disclosed to you in the Credit Proposal Disclosure Document.
DISPUTES OR COMPLAINTS WHAT TO DO IF YOU HAVE A DISPUTE OR COMPLAINT? We are committed to providing our customers with the best possible service. If at any time we have not met our obligations – or you have a complaint about any of our services – please inform us so we can work towards a resolution. We will endeavour to deal with your complaint promptly, thoroughly and fairly. HOW TO MAKE A COMPLAINT AND THE COMPLAINTS PROCESS? If you have a complaint, we request you follow these steps: 1. In the first instance, please contact loanbox pty ltd. 2. If your complaint has not been resolved to your satisfaction within 5 business days, please contact our Complaints Area as detailed below: Telephone: 03 8616 1443 Monday to Friday 9am to 5pm (AEST) Email: resolutions@BLSSA.com.au Fax: 03 8616 1918 Mail: BLSSA Advice Complaints, PO Box 626, Collins Street West, Melbourne VIC 3000 3. We may ask for additional information and request you to put your complaint in writing to ensure your issue is properly investigated. 4. In cases where your complaint will take longer to resolve, we will update you progressively. THIRD PARTY PRODUCTS OR SERVICES If your complaint relates to a product or service acquired through a third party (for example, a lender) we may ask you to contact the relevant third party. They will deal with your complaint under their complaints resolution process. If you are not satisfied with the resolution of your complaint by the third party under their complaints resolution process, you are entitled to have your dispute considered by their External Dispute Resolution Scheme. Please contact the third party for further details. KEEPING YOU INFORMED Our Complaints Area will acknowledge receipt of your complaint within five business days. If unable to resolve the complaint/dispute to your satisfaction within five business days, they will write to you advising the procedures we will follow in investigating and handling your complaint. Within 45 calendar days from the date you lodged the complaint with us, we will write to you advising you the outcome of the investigation and the reason/s for our decision, or if required, we will inform you if more time is needed to complete the investigation. STILL NOT SATISFIED? If you do not think we have resolved your complaint to your satisfaction, you may take the matter – free of charge – to the relevant External Disputes Resolution Scheme (provided it is within the scheme’s terms of reference) as detailed below. You may also refer the matter to the relevant External Disputes Resolution Scheme at any time, but if our internal process is still in progress, they may request that our internal processes be complete before considering the matter further. Our external dispute resolution service provider is the Australian Financial Complaints Authority (AFCA), which can be contacted via: • Online: www.afca.org.au • Email: info@afca.org.au • Phone: 1800 931 678 • Mail: GPO Box 3 Melbourne VIC 3001 BLSSA’s external dispute resolution service provider is the Australian Financial Complaints Authority (AFCA), which can be contacted via: • Online: www.afca.org.au • Email: info@afca.org.au • Phone: 1800 931 678 • Mail: GPO Box 3 Melbourne VIC 3001 OTHER DISCLOSURES BROKER BENEFITS DISCLOSURES In line with industry reforms, I am required to keep a register of benefits received from any lenders or aggregators to the value of $100 or more which is kept current (over a rolling 12 month period and housed for 3 years). In the interest of transparency and good customer outcomes, an applicant may request a copy of this register to ensure there are no lender conflicts. TIERED SERVICING DISCLOSURES We have access to service programs available from some residential home loan providers. We access these services based on a number of measures. These programs promote preferential services to a customer and do not entitle us to additional payments or commissions or to preferential customer discounts.Ready to find the perfect home loan? Let's go!!!!
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