Our commitment to protect your privacy
We understand how important it is to protect your personal information. This document sets out our privacy policy commitment in respect of the personal information we hold about you and what we do with that 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.
Our commitment in respect of personal information is to abide by the Australian Privacy Principles for the protection of personal information, as set out in the Privacy Act and any other relevant law.
Personal information
When we refer to personal information, we mean information from which your identity is reasonably apparent. This information may include information or an opinion about you. The personal information we hold about you may also include credit information.
Credit information is information used to assess your eligibility to be provided with finance and may include:
- Any finance you have outstanding
- Your repayment history
- 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:
- Name
- Date of birth
- Address
- Contact details
- Account details
- Occupation
- Any other information required to identify you
If you submit enquiries or information using our website, we may also collect:
- The type of finance you are interested in
- The amount of finance sought
- Any information you provide directly or indirectly through use of our website
If you are applying for finance, we may also collect:
- Ages and number of dependants and cohabitants
- Length of time at your current address
- Employment details
- Proof of earnings and expenses
If you apply for any insurance product through us, we may also collect your health information. We will only collect health information with your consent.
Why we collect your personal information
We collect personal information for the purposes of:
- Assessing your application for finance
- Managing that finance
- Direct marketing
- Managing our relationship with you
From time to time, we may offer you other products and services.
We collect personal information on our website to:
- Send communications requested by you
- Answer enquiries
- Provide information or advice
To maintain a successful business relationship with you, we may disclose your personal information to other organisations that provide products or services used or marketed by us. We may also disclose your personal information to any organisation that has or is considering having an interest in your finance or in our business.
How do we collect your personal information?
Where reasonable and practical, we will collect your personal information directly from you.
We may also collect your personal information from:
- LM Broker Services
- Other finance brokers
- Accountants
- Lawyers
- Other relevant third parties
Do we disclose your personal information?
We may disclose your personal information:
- To prospective funders or intermediaries in relation to your finance requirements
- To organisations involved in managing or administering your finance (such as third party suppliers, printing and postal services, call centres)
- To associated businesses that may wish to market products to you
- To companies that provide information and infrastructure systems to us
- To your representatives (such as brokers, lawyers or accountants)
- Where you have provided consent
- Where required by law, including under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth)
- To investors, agents, advisers or any entity with an interest in our business
- To your employer, referees or identity verification services
Before disclosing your personal information, we will take reasonable steps to ensure that:
- The recipient has a commitment to protecting your personal information at least equal to ours; or
- You have consented to the disclosure
Overseas disclosure
We may disclose personal information to related bodies corporate and third party suppliers or service providers located overseas for the purposes outlined above.
These may include:
- Data hosting and IT service providers located in various countries
- Other third parties located overseas, including in the Philippines and the USA
Your personal information may be stored in cloud systems located outside Australia. If this occurs, disclosures may happen in countries other than those listed above.
If information is disclosed overseas, it may be subject to foreign laws and may not be protected by the Australian Privacy Principles. By providing your information, you consent to this disclosure.
Direct marketing
From time to time, we may use your personal information to provide you with:
- Information about finance
- Offers you may find of interest
- Changes to our organisation
- New products or services
If you do not wish to receive marketing communications, you may decline at any time by contacting us. If marketing is sent by email, you may also use the unsubscribe function.
We will not charge you for processing your request and will act as soon as reasonably possible.
Updating your personal information
It is important that the personal information we hold about you is accurate and up to date.
You may contact us at any time to update your personal information. We generally rely on you to ensure the information we hold is accurate and complete.
Access and correction
You may request access to the personal information we hold about you at any time.
We may charge a fee to cover the cost of retrieving and supplying the information.
Depending on the request, we may respond immediately or within seven days. We may need to contact other entities to properly investigate your request.
There may be circumstances where we are not required to provide access, including where:
- The information relates to existing or anticipated legal proceedings
- The request is vexatious
If access is denied, we will provide an explanation.
If personal information is incorrect, inaccurate or out of date, you may request correction. Where appropriate, we will correct the information and respond within seven days. Following investigation, we will advise within 30 days whether corrections have been made.
If we refuse to correct information, we will provide our reasons.
Government identifiers
If we collect government identifiers such as your tax file number, we will only use or disclose this information as required by law. We will not use a government identifier to identify you.
Business without identifying you
In most circumstances, we need to identify you to conduct business. However, where lawful and practical, you may interact with us anonymously, such as making general enquiries about interest rates or promotional offers.
Sensitive information
We will only collect sensitive information with your consent.
Sensitive information includes information about:
- Racial or ethnic origin
- Political persuasion
- Membership of professional associations or trade unions
- Sexual preferences
- Criminal record
- Health
Security of your personal information
We take reasonable steps to protect your personal information by storing it in a secure environment.
We may store personal information in paper or electronic form. We take reasonable steps to protect it from:
- Misuse
- Loss
- Unauthorised access
- Modification
- Disclosure
Complaints
If you are dissatisfied with how we have handled your personal information or believe we have breached the Privacy Act, you may contact us via the contact link on our website.
We will:
- Acknowledge your complaint within seven days
- Provide a decision within 30 days
If you are not satisfied with our response, you may contact the Office of the Australian Information Commissioner at:
- Website: www.oaic.gov.au
- Phone: 1300 363 992
Further information
You may request further information about how we manage personal information by contacting us.
Changes to this policy
We regularly review our policies and may update this Privacy Policy from time to time to reflect changes in law, technology or business practices.
You may request this policy in an alternative format.
Effective date: May 2024