Privacy Policy

Your privacy is important to us

Lifestyle Loans is committed to being the leading provider of mortgage services, and as such we are sensitive to privacy issues and treat very seriously the ongoing trust our clients have placed in us.

Our policy is to respect the confidentiality of information and the privacy of individuals and is bound by the National Privacy Principles contained in the Commonwealth Privacy Act.

Lifestyle Loans (Vic) Pty Ltd intends to use your information to provide services to you. Any personal information regarding you will not be used for any marketing purpose by Lifestyle Loans (Vic) Pty Ltd without your permission.

Personal Information

Lifestyle Loans (Vic) Pty Ltd is committed to safeguarding your personal privacy. We recognise that you have a right to control how your personal information is collected and used. We know that providing personal information is an act of trust and we take that seriously.

  • We obtain most of the information directly from our customers through application or other forms. We may also obtain information from other sources if required.
  • We may ask for other information voluntarily from time to time to enable us to improve our service or consider the wider needs of our potential customers.
  • If you choose not to provide the information we need to fulfill your request for a specific product or service, we may not be able to provide you with the requested product or service/s.

We collect personal information when we provide our services to you. Generally we will tell you why we are collecting information when we collect it and how we plan to use it or these things will be obvious when we collect the information.

Use of Information

We use your information to provide our service to you, to fulfill administrative functions associated with providing this service. We may share your information with other companies that are related to or have relationships with, within and outside of Australia, for the primary purpose of supplying the service requested. We or they may use your personally identifiable information to assist us in improving our service and any of us might be in touch to let you know about goods, services, or promotions which may interest you or be of benefit to you e.g. advising you of improved products or services.

When we collect your information, we will give you the ability to indicate that you do not want us to use your personal information for disclosed secondary purposes. You may notify us of your preference on this issue by contacting our administration officer as set out at the end of this document.

When we will contact you

We may contact you by e-mail, by phone or other address, which you provide us in order to:

  • Provide you with information about services provided directly by or third party relationships.
  • Provide you with information that you requested or deemed important to you for your business operation.
  • To send you news letters

If you are receiving communications from and do not wish to receive this information any longer you may remove your name from our list by contacting us at info@lifestyleloans.com.au.

How do we store personal information?

Safeguarding the privacy of your information is important to us, whether you interact with us personally, by phone, mail, over the Internet or other electronic medium. We hold personal information in a combination of secure computer storage facilities and paper-based files and other records, and take steps to protect the personal information we hold from misuse, loss, unauthorised access, modification or disclosure.

Accessing personal information held

Under the Commonwealth Privacy Act, you have the right to obtain a copy of any personal information that holds about you and to advise of any perceived inaccuracy. The Act does set out some exceptions to this. If at any time you want to know what information we hold about you, you are welcome to request your personal information by e-mailing or calling directly. We will acknowledge your request within 14 days and respond promptly to it. We may charge a fee to cover the cost of verifying and locating, retrieving and copying any material requested. If the information sought is extensive, we will advise likely cost in advance and help refine your request if required.

Privacy notice & consent

This privacy notice and consent relates to an application (the application) you make to a mortgage manager for a loan (your loan) or in which you offered to guarantee the applicant’s loan obligations or your loan or a guarantee of the loan.  It includes consents from you to disclose certain information to other organisations described below.  Your loan may be consumer credit or commercial credit.

The mortgage manager will submit the application to a lender or the lender’s loan servicer to consider.  If the lender or its loan servicer approves the application, it may seek lender’s mortgage insurance (LMI) cover from a lenders mortgage insurer or title insurance cover from a title insurer or both in relation to your loan.

In this privacy notice and consent, “credit eligibility information” means information an organisation described below obtained from a credit reporting body or that is based on information obtained from a credit reporting body.

Privacy Notice

This privacy notice tells you how certain organisations collect information about you, what they use the information for and who they share the information with.  If any of those organisations collect information that can be used to identify you, it will take reasonable steps to notify you of that collection.

Organisations that collect information about you

This privacy notice and consent covers the following organisations that may collect information about you relating to the application or your loan or a guarantee of the loan:

  • the mortgage manager (the mortgage manager) through whom you made the application or that manages your loan.  That mortgage manager is Lifestyle Loans VIC Pty Ltd ACN 005 563 100;
  • the lender to whom you make the application or that makes your loan available.  That lender is either Perpetual Trustees Victoria Limited ACN 004 027 258 or AFSH Nominees Pty Ltd ACN 143 937 936 (each a lender);
  • the loan servicer (the loan servicer) that considers the application or administers your loan for the lender.  That loan servicer is Advantedge Financial Services Pty Ltd ACN 130 012 930;
  • the LMI insurer that considers a lender’s request for LMI cover relating to the application or that gives LMI cover to the lender for your loan.  That LMI insurer is either QBE Lenders Mortgage Insurance Ltd (QBE) ACN 000 511 071 or Genworth Financial Mortgage Insurance Pty Ltd (Genworth) ACN 106 974 305 (each an LMI insurer); and
  • the title insurer (the title insurer), that considers a lender’s request for title insurance cover relating to the application or that gives title insurance cover to the lender for your loan, and its related entity: the title insurer is First American Title Insurance Company of Australia Pty Limited (First Title) ACN 075 279 908 and its related entity is First Mortgage Services Pty Ltd (FMS) ACN 110 202 429.

Each of those organisations is described below separately as “we” and “us”.

The LMI insurers and the title insurer are described together below as “insurers”.

How information is collected from you

We will collect information about you from you directly whenever we can. Most information will be collected from the application and from the records we maintain about the products or services you receive from us.  We may verify that information from sources referred to in the application or in this privacy notice and consent.

Sometimes an LMI insurer may also collect further personal information about you during the course of the LMI cover provided to the lender for your loan. The terms of this notice and the LMI insurer’s Privacy Policy will apply to the collection, use and disclosure of that information.

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 obtain information (including commercial credit information concerning your credit worthiness or history, consumer information and collection of overdue payments information)  from a credit reporting body for any purpose described below;
  • we obtain information about your loan or a guarantee of the loan from another organisation described above;
  • we can’t get hold of you and we rely on publicly available information to update your contact details;
  • we check property, you offer as security, through public registers or our service providers; or
  • we exchange information with your legal or financial advisers or other representatives.

When the law authorises or requires collection of information

There are laws that affect organisations that may require us to collect personal information about you. For example, we may require information about you to verify your identity under Australian Anti-Money Laundering law.

How your information may be used

A lender, the loan servicer or the mortgage manager may use information about you for purposes including:

  • giving you information about loan products or related services;
  • considering whether you are eligible for a loan or any related service you requested;
  • processing the application and providing you with a loan or related service;
  • administering your loan or any related service, for example, to answer requests or deal with complaints;
  • identifying you;
  • telling you about other products or services it or its related companies make available and that may be of interest to you, unless you tell them not to;
  • allowing it to run its business efficiently and to perform administrative and operational tasks;
  • preventing or investigating any fraud or crime or any suspected fraud or crime;
  • as required by law, regulation or codes binding it; and
  • any purpose to which you have consented.

You can let the lender, loan servicer or the mortgage manager know at any time if you no longer wish to receive direct marketing offers from them. They will process your request as soon as practicable.

Also, a lender, the loan servicer or the mortgage manager may use credit information about you to:

  • enable an insurer to assess the risk of providing insurance to the lender or to address the lender’s arrangements with the insurer;
  • assess whether to accept a guarantor or the risk of a guarantor being unable to meet their obligations;
  • consider hardship requests; and
  • assess whether to securitise loans and to arrange securitising loans the lender makes.

An LMI insurer may use information about you:

  • to decide whether to insure a lender under an LMI policy;
  • to assess the risk of you or a guarantor defaulting on your obligations to a lender;
  • to administer and vary the insurance cover including for securitisation and hardship applications;
  • to verify information that the LMI insurer collects about you;
  • to deal with claims and  recovery of proceeds including, among other things, to enforce a loan or a guarantee in place of a lender if the LMI insurer pays out an insurance claim on your loan or the loan you guarantee;
  • to conduct risk assessment and management involving credit scoring, portfolio analysis, reporting and fraud prevention;
  • to comply with legislative and regulatory requirements including requirements under the Privacy Act 1988  and Insurance Contracts Act 1984 as amended from time to time;
  • for a mortgage insurance purpose relating to you; and
  • for any other purpose under the insurance policy the LMI insurer issues to the lender relating to your loan.

The title insurer or its related entities may use information about you:

  • to assess the risk of providing title insurance to the lender;
  • for the subsequent administration or variation of the title insurance policy;
  • for risk assessment, reporting, fraud prevention, enforcement and claim recovery activities;
  • to discharge your existing mortgage over the security property and register your new mortgage over the security property where a refinance is taking place;
  • to deal with claims  and to enforce a loan or a guarantee in place of  a lender if the title insurer pays out an insurance claim on your loan or the loan you guarantee;
  • for a title insurance purpose relating to you;
  • to comply with legislative and regulatory requirements; and
  • for any other purpose under the contract between a lender and the title insurer.

What happens if you don’t provide information

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

  • to provide you with the product or service you want.  For example, if information is not disclosed to an insurer, it may not be able to process a lender’s request for insurance.  In that case, the lender may not be able to assess this application;
  • for the lender, loan servicer or a mortgage manager to manage or administer the loan the lender makes to you;
  • verify your identity or protect against fraud; or
  • in the case of the lender, loan servicer or mortgage manager, to let you know about other products or services that might be suitable for your financial needs.

Sharing Your Information

Sharing with other organisations

We use and share information about you with other organisations described above for the purposes described above.

Sharing with related companies

We may share information about you with our related companies for the purposes described above.

Sharing with your representatives and referees

We may share information about you with:

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

Sharing with credit reporting bodies

We may disclose information about you to a credit reporting body in relation to the application or your loan or your guarantee, including overdue payments.  A credit reporting body may include information about you in reports that it gives other organisations (like other lenders) to help them assess your credit worthiness.

Some of that information may reflect adversely on your credit worthiness, for example, if you fail to make payments or if you commit a serious credit infringement (like obtaining credit by fraud).   That sort of information may affect your ability to get credit from other lenders.

Sharing with third parties

We may disclose information about you to third parties, in relation to: considering the application; administering your loan; exercising rights relating to your loan; exercising rights relating to your guarantee; or any insurance policy an insurer issues to the lender relating to your loan or the loan you guarantee.  Those third parties may include:

  • valuers, other insurers, re-insurers, claim assessors and investigators;
  • brokers or referrers that submitted applications on your behalf or referred you to the mortgage manager;
  • other financial institutions, like banks;
  • organisations that are involved in debt collecting or in purchasing debts;
  • organisations, like fraud reporting agencies, that may identify, investigate and/or prevent fraud, suspected fraud, crimes, suspected crimes, or other serious misconduct;
  • organisations involved in surveying or registering a security property or which otherwise have an interest in a security property;
  • government or regulatory bodies (including ASIC and the Australian Tax Office) as required or authorised by law.  In some instances, these bodies may share the information with relevant foreign authorities;
  • rating agencies to the extent necessary to allow the rating agency to rate particular investments;
  • organisations involved in securitising your loan, including re-insurers and underwriters, loan servicers, trust managers, trustees and security trustees;
  • guarantors and prospective guarantors of your loan;
  • the borrowers or the prospective borrowers of the loan you guarantee;
  • payment system operators to allow us to investigate or correct payments on your loan; and
  • service providers (including data consultants and IT contractors), agents, contractors and advisers that assist us to conduct our business.

Also, a lender or the loan servicer may disclose information about you, in relation to other services relating to your loan or your guarantee or its loan products, to others including:

  • organisations that maintain, review and develop a lender’s or the loan servicer’s business systems, procedures and technology infrastructure;
  • organisations that produce cards, cheque books or statements for a lender in relation to your loan or the loan you guarantee;
  • organisations that assist a lender or the loan servicer with  product planning, research and development; and
  • mailing houses and telemarketing agencies that assist a lender or the loan servicer to communicate with you.

Sharing outside of Australia

QBE may disclose information about you to related companies situated in the Philippines.

Genworth may disclose information about you to related companies situated in the USA, Canada or the United Kingdom.

The title insurer or its related entities may disclose information about you to related companies situated in the USA, Malaysia or India.

We may store information about you 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 information about you may be held.

Overseas organisations may be required to disclose information shared with them under a foreign law. In those instances, the organisation, described above, that disclosed the information to the overseas organisation will not be responsible for that disclosure.

Each lender, loan servicer and mortgage manager:

  • will only share any credit information about you with a credit reporting body if that body has a business operation in Australia; and
  • is unlikely to share credit eligibility information with  organisations that do not have business operations in Australia.

Complaints

If you have a complaint against us about a privacy issue, please tell us about it.  You can find out how to make a complaint (including special rights for credit information complaints) and how we will deal with a complaint, by visiting our complaints page, calling us or writing a letter.

Consent

By signing our loan application form, you consent to:

  • us obtaining information about you from a credit reporting body:
  • us exchanging information about you with other credit providers to: assess the application; assess whether to accept you as a guarantor; assist you to avoid defaulting on your loan or your guarantee; notify other credit providers of a default by you; or assess your credit worthiness.  This information may include credit eligibility information;
  • if you are a joint applicant under the application or become a joint borrower under your loan, us exchanging information about you with your joint applicants or joint borrowers to process the application and to administer your loan;
  • us disclosing information (including credit eligibility information to potential guarantors) about you  to a potential or existing guarantor (or their legal representative) but only to assist them to consider whether to act as a guarantor or to offer property as security or to inform them about:
    • the application and details of the obligations guaranteed or proposed to be guaranteed;
    • your credit worthiness, credit capacity or credit history; and
    •  any other matter we decide is relevant to a potential guarantor or guarantor;
  • if a lender, the loan servicer or mortgage manager requests an insurer for LMI insurance or title insurance for the loan for which you applied, the lender, the loan servicer or the mortgage manager disclosing to that insurer information about you for any purpose in connection with that insurance;
  • us checking the details of the information you gave in the application.  They may contact any person you named in the application for that purpose. If you give us an identity document (for example, your passport or driver’s licence) in connection with the application, we may contact the authority that issued the document to verify the status of and any information contained in the document;
  • us exchanging information (including credit eligibility information) about you with any person acting on your behalf (like a broker or a referrer) relating to processing the application and establishing and managing your loan or your guarantee;
  • us exchanging information about you with our relevant service providers (including any service provider located outside Australia) including information that we collect from you as an agent of a state or territory government in relation to a First Home Owner Grant application you make.  For more information, please see the privacy notice above and our privacy policy, available by contacting us.  Please see the contact details in the schedule;
  • a lender or the loan servicer disclosing your credit eligibility information to other organisations participating in securitising the lender’s loans, but only for purposes relating to those arrangements including to enable those other organisations to exercise rights they have under securitisation arrangements to review loan files; and
  • us using the information in the application to better understand and/or manage your relationship with us.
  • to assess your application for consumer credit or commercial credit or to collect any payment that is overdue in relation to your loan; and/or
  • to assess whether to accept you as a guarantor of the loan;

Information about other people

If you give information about another person (like your employer, spouse, referee or solicitor) in relation to the application or a loan you get from the lender to us, you will let that other person know that:

  • we have collected their information to assess the application, to manage any loan you get from a lender and for any other purpose set out in the privacy notice above;
  • we may exchange this information with other organisations set out in that privacy notice;
  • we handle their personal information in the way set out in  our Privacy Policy and that privacy notice and they can:

–           access or request a copy of that privacy policy or privacy notice; or

–           access the information we hold about them,

by using the contact details for us in the schedule; and

  • you may not be able to get credit from the lender or we may not accept your application to act as a guarantor of a loan unless we obtain their information.

More about the credit reporting body we use

Contact details

We may give information about you to one or more credit reporting bodies in relation to the application or your loan.  Currently, we deal with Veda Advantage Business Information Services Ltd (Veda).  Veda’s contact details are in the schedule.  Veda has a credit reporting policy about how it handles information about you.  You can obtain copies of that policy at Veda’s website set out in the schedule.

If you think you have been the victim of a fraud

If you believe that you have been or are likely to be the victim of fraud (including identity fraud), you can request a credit reporting body not to use or disclose the information they hold about you.

If you don’t want your information used by them for direct marketing/pre screening purposes

You can ask a credit reporting body not to use information about you to undertake pre-screening assessments of individuals to determine whether those individuals are eligible to receive direct marketing from a particular credit provider.  Please contact the credit reporting body, if you want to ensure that the credit reporting body does not use information about you for pre-screening assessments.

SCHEDULE

Lenders

Perpetual Trustees Victoria Limited ACN 004 027 258
Level 12, 123 Pitt Street, Sydney, NSW 2000.
Tel: 02 9229 9000
Web: www.perpetual.com.au
Its privacy policy is set out at http://www.perpetual.com.au/privacy-policy.aspx

AFSH Nominees Pty Ltd ACN 143 937 936
Level 10, 101 Collins St, Melbourne VIC 3000
Tel:          03 8616 1600
Web:       www.advantedge.com.au
Its privacy policy is set out at  www.advantedge.com.au/privacy

Loan Servicer

Advantedge Financial Services Pty Ltd ACN 130 012 930
Level 10, 101 Collins St, Melbourne VIC 3000
Tel:          03 8616 1600
Web:       www.advantedge.com.au
Its privacy policy is set out at www.advantedge.com.au/privacy

Lifestyle Loans VIC Pty Ltd ACN 005 563 100
28 Queensberry Street, Carlton VIC 3053
Tel:          03 9663 0009
Web:       www.lifestyleloans.com.au
Its privacy policy is set out at www.lifestyleloans.com.au/privacy

Insurers

QBE Lenders Mortgage Insurance Ltd ACN 000 511 071
Level 21, 50 Bridge St, Sydney NSW  2000
Tel:          1300 367 764
Web:       www.qbelmi.com
Its privacy policy is set out at http://www.qbelmi.com/pg-QBE-Privacy-Policy-Statement.seo.

Genworth Financial Mortgage Insurance Pty Ltd ACN 106 974 305
Level 26, 101 Miller St, North Sydney  NSW  2060
Tel:          1300 655 422
Web:       www.genworth.com.au
Its privacy policy is set out at http://www.genworth.com.au/help/privacy-policy

First American Title Insurance Company of Australia Pty Ltd ACN 075 279 908
Level 10, 309 George Street, Sydney NSW 2000
Tel:          1300 362 178
Web:       www.firsttitle.com.au
Its privacy policy is set out at http://www.firsttitle.com.au/homey

Credit Reporting Body

Veda Advantage Business Information Services Ltd
Public Access Division Veda Advantage PO Box 966 North Sydney NSW 2059
Tel:          1300 921 621
Web:       www.mycreditfile.com.au
Its privacy policy is set out at http://www.veda.com.au/privacy

Further changes

Lifestyle Loans (Vic) Pty Ltd’s commitment to be the quality leading provider of mortgage services to clients means that our business will continue to evolve as we introduce new services and features.

Lifestyle Loans (Vic) Pty Ltd’s Privacy Statement will be reviewed from time to time to take account of new laws and technology, changes to our operations and practices and to make sure it remains appropriate to the changing environment. The most current Privacy Policy Statement will govern any further information we hold.

This page was last updated 15/1/2014