Privacy Policy

This website (www.loanprep.com.au) (the LoanPrep App) and the products and/or services made available through the LoanPrep App are owned and operated by LoanPrep Pty Ltd (ACN 698 131 789) (LoanPrep, we, us or our).

We are committed to ensuring your Personal Information is protected. We manage your Personal Information in accordance with the Australian Privacy Principles set out in the Privacy Act 1988 (Cth) (Privacy Act) and our credit reporting obligations under the Privacy Act, Privacy Regulations 2013 (Cth) and Privacy (Credit Reporting) Code 2014 (collectively, Credit Reporting Regime).

By accessing, using and continuing to use the LoanPrep App, products or services you agree to this Privacy Policy. We collect information from visitors to the LoanPrep App, mortgage brokers who use LoanPrep App, products and services (Brokers) and individuals or entities who require a loan or credit assistance (Consumers).

This Privacy Policy outlines how we collect, store, use and disclose your Personal Information, including how we manage your credit-related information, and how you may access your Personal Information kept by us or how you may make a privacy complaint.

Personal Information has the same meaning that it has under the Privacy Act, namely, information means information or an opinion about an identified individual or an individual who is reasonably identifiable, whether the information or opinion is true or not and recorded in a material form or not.

We will only collect and hold Personal Information and non-Personal Information about you that is reasonably necessary to undertake our business activities and functions, deliver the LoanPrep App, our products and services to you, or as otherwise permitted by law.

The type of Personal Information that we collect and use depends on the type of dealings that you have with us and whether you are a Broker, Consumer, authorised representative of a Broker or Consumer or a visitor to the LoanPrep App.

Information about Consumers

1. (a)Verification details and account registration information (for example, full name, email address, date of birth, gender, current and previous address and driver’s licence reference, identity documents or verification results).
2. (b)Credit-related information (for example, credit history, any repayment obligations, credit ratings or hardship applications, defaults in the last two years, years since bankruptcy discharge, Part IX status, judgements and self-estimated score).
3. (c)Information relating to your employment and income (such as occupation, employer, employment history, self-employment details, salary, bonus, commission and supporting records).
4. (d)Information relating to your assets, liabilities and expenses.
5. (e)Borrowing objectives and preferences, including the purpose and amount of a proposed loan, property information, purchase or refinancing plans and intended timing.
6. (f)Information relating to your loan eligibility (such age, visa status, state, region, first-home-buyer status and intent to relocate).
7. (g)any other Personal Information, data or information you submit, share or provide when completing the mortgage readiness questionnaire through the LoanPrep App.

Information about Brokers

1. (a)Contact details and account registration information (for example, full name and email address).
2. (b)Business and accreditation details (for example, business name, business address, ABN, mobile number, work email address and Australian credit licence or credit representative details, licensee or aggregator affiliation, qualifications and relevant accreditation details).
3. (c)Information relating to your subscription with the LoanPrep App (including subscription details, preferences and records of your use of the LoanPrep App, products and services, subscriptions fees and referral fees paid, information relating to your request for referral credits, the referral credits you have received and redeemed.
4. (d)Information relating to the referrals made to you through the LoanPrep App and efforts you have made to contact the referrals.
5. (e)Any other Personal Information, data or information you submit, share or provide to us through the LoanPrep App.

Information about Consumers and Brokers

1. (a)Information relating to your dealings, or enquiries you have made, with us (including information about the products or services you have ordered or enquired about), feedback provided in relation to the LoanPrep App, marketing preferences and records of consent.
2. (b)Information relating to complaints we have received about the LoanPrep App, products and services, Consumers or Brokers.
3. (c)Device information which is automatically collected from you when you visit and navigate through the LoanPrep App. Such information may include, but is not limited to, your device type, your device’s network connections, unique device identifier, your device’s name, your device IP address, screen size and calibration, information about your device’s web browser and internet connection you use to access the LoanPrep App and our website, crash, error and performance diagnostic information generated when the LoanPrep App encounters a problem, browser characteristics, device characteristics, operating system and language preferences, dates and times of visits to the LoanPrep App and other usage statistics.
4. (d)Other information that you provide to us or that we may collect in the course of our relationship with you.

Sensitive Information

1. (a)We do not intentionally collect your Sensitive Information (as defined by the Privacy Act), such as your race, religion, political affiliations, sexual preferences, criminal record or medical history. However, financial documents or credit-related information collected by us may incidentally contain or reveal Sensitive Information.
2. (b)We do not collect or use government related identifiers (such as tax file numbers).
3. (c)Please do not provide us with Sensitive Information or government related identifiers, unless we request it for a specified purpose. Where its collection is reasonably necessary, we will obtain your consent unless an exception under the Privacy Act applies.
4. (d)If we receive information we have not requested, we will destroy or de-identify it as soon as practicable where lawful and reasonable. Please contact us using the details below if you believe government identifiers, Sensitive Information or other unnecessary information has been provided.

Children

We do not knowingly collect any Personal Information from individuals who are under 18 years of age (children). If you are a child, please do not submit any Personal Information through the LoanPrep App.

Brokers

1. (a)We generally collect Personal Information directly from Brokers when you create or update your account, upload documents, use the LoanPrep App, products and services (such as when you purchase referrals, request referral credits, use and redeem referral credits), contact, interact or communicate with us on, or, via, the LoanPrep App, manage your subscription, when you contact customer support, make a complaint, provide feedback or otherwise correspond with us.
2. (b)We also automatically collect device and technical information as described in our Cookie Policy and Analytics Policy.

Consumers

1. (a)We generally collect Personal Information directly from Consumers when you create or update your account, upload documents, use the LoanPrep App, products and services (such as when you complete mortgage readiness questionnaire, credit check consent forms or any other forms or questionnaires on the LoanPrep App), contact, interact or communicate with us on, or, via, the LoanPrep App, when you contact customer support, make a complaint, provide feedback or otherwise correspond with us.
2. (b)We also automatically collect device and technical information as described in our Cookie Policy and Analytics Policy.

Collection from third parties

1. (a)We may collect Personal Information about Consumers from your authorised representatives or joint applicant when they complete a questionnaire or form or create a record or upload a document on, or via, the LoanPrep App on your behalf or from credit reporting bodies where the Consumer has given us consent to do so.
2. (b)We may collect Personal Information about Brokers from government or public registries and other publicly available sources of information to verify your relevant business and accreditation details and from our third party payment processors to process payments made by Brokers to us.
3. (c)We take reasonable steps to make you aware of the circumstances of collection and the relevant matters in this Privacy Policy, including where we receive information from someone else. Where information is collected indirectly, we do so only where permitted by law, including where direct collection would be unreasonable or impracticable.

Providing information about another individual

1. (a)If you provide us with Personal Information about another individual (as their authorised representative or joint applicant), you must be authorised to do so, and we rely on you to: (i) inform them that you are providing their Personal Information to us; and (ii) advise them that they can contact us for further information.
2. (b)You must take reasonable steps to ensure the individual is aware of, and consents to, the matters outlined in this Privacy Policy, including that their Personal Information is being collected, the purposes for which that information is being collected, the intended recipients of that information, the individual's right to access that information, and who we are and how to contact us.

Third party payment processor

We use a third party payment processor to process payments made to us. In connection with the processing of such payments, we do not collect, process, use, share, store or disclose payment information (such as credit card and bank account details). Rather, all such information is provided directly to our third party processor, Stripe, whose use of your Personal Information is governed by their privacy policy, which may be viewed at https://stripe.com/au/privacy.

Anonymity and choosing not to provide information

1. (a)You have the right to refuse to provide us with your Personal Information. However, this means you cannot: (i) create an account or access and use the LoanPrep App, products and services; or (ii) participate in marketing activities.
2. (b)You may provide feedback or make a complaint anonymously or using a pseudonym.

Brokers

We use Personal Information from Brokers to establish and administer your accounts, verify your business and accreditation details, manage your subscription, billing and referral credits, deliver the LoanPrep App and our products or services to you (such as to facilitate an introduction to Consumers), to communication with you, deal with complaints and provide customer support.

Consumers

1. (a)We use Personal Information from Consumers to establish and administer your accounts, verify your identify details, deliver the LoanPrep App and our products or services to you (such as assisting Consumers to understand their credit worthiness, credit standing, credit history or credit capacity and to facilitate an introduction to a Broker who may be able to provide them with credit assistance), to communication with you, deal with complaints and provide customer support.
2. (b)When a referral is made to a Broker, only the Consumer’s Personal Information will be disclosed to a single Broker. If that Broker does not contact the Consumer, we will provide the Consumer’s Personal Information to our affiliate, Image Financial Group Pty Ltd, who may be able to provide the Consumer with credit assistance

Administering LoanPrep App

1. (a)We use and disclose the Personal Information of Brokers and Consumers to: (i) administer, improve and manage our products, services, the LoanPrep App (including customising the advertising, questionnaires and content on our LoanPrep App) and relationship with you; (ii) meeting our legal and regulatory obligations (e.g. to verify your identity and mortgage broker accreditation); (iii) carrying out our internal operations, such as record keeping, training and auditing; (iv) sharing with our Third Party Providers; (v) detecting, investigating or preventing actual or potential fraud in connection with the LoanPrep App and the products or services that we may provide to you; (vi) for direct marketing purposes (see section 7 below).
2. (b)We may use aggregated or de-identified information to understand usage, improve the our products, services and the LoanPrep App and prepare statistical reports. We take reasonable steps to ensure that individuals are not reasonably identifiable before treating information as de-identified.

In order to provide or deliver our LoanPrep App, products and/or services to you we may disclose your Personal Information and Non-Personal Information to (collectively, Third Party Providers):

1. (a)our related bodies corporate, business partners, service providers, third party contractors, agents or suppliers, external business advisors, such as auditors, lawyers, insurers and financiers; and
2. (b)authorised external service providers who perform functions on our behalf, such as:

We may also disclose your Personal Information to:

1. (a)to any other party with your consent and direction; and
2. (b)law enforcement bodies or regulatory authorities to assist with their functions, or as otherwise required or authorised by law.

Prior to the disclosure of Personal Information to Third Party Providers, we will take such steps as are reasonable in the circumstances to ensure that the Third Party Providers treat your Personal Information securely and otherwise complies with the relevant Australian Privacy Principles in relation to the Personal Information.

In order to provide our products and services to Consumers through the LoanPrep App, we require Consumers to consent to a credit check through a credit reporting body. By consenting to a credit check, we may provide your Personal Information and credit information to credit reporting bodies and/or such credit reporting bodies may provide your Personal Information and credit information to us. These credit reporting bodies include Equifax. To view the policies of Equifax, we refer you to their website: www.equifax.com.

Information that we disclose or receive from credit reporting bodies may include:

1. (a)your identification details (such as full name, date of birth, gender, your current (or last known) address and previous two addresses and your driver’s licence number);
2. (b)the name of your current (or last known) employer
3. (c)the names of any credit providers that have provided you with credit, and whether they are licenced by ASIC;
4. (d)the type of credit provided by those credit providers;
5. (e)the day on which that credit was made available to you and (if relevant) terminated
6. (f)the limit on that credit;
7. (g)certain terms and conditions of that credit, including limited information about your repayment and interest obligations;
8. (h)repayment history information, which is information about whether you have made a credit payment on time, or whether you have missed a payment
9. (i)financial hardship information, which is reported against your repayment history information;
10. (j)that a credit provider has requested access to information held in your consumer credit report in connection with an application that you have made to that credit provider for consumer or commercial credit (an information request, more commonly known as a credit enquiry);
11. (k)the type and amount of consumer or commercial credit that you sought in that application; and
12. (l)that you have defaulted on a consumer credit payment of $150 or more (this means that you are at least 60 days overdue in making the payment).

The purposes for which we may collect, hold, use and disclose your Personal Information and credit information in accordance with the Privacy Act and Credit Reporting Regime is to provide our LoanPrep App, products and services to you, to assess and determine your credit eligibility or worthiness, to assist Brokers, credit reporting bodies or third-party providers, or as otherwise permitted by law.

We may ask credit reporting bodies to use their information to vet you for direct marketing. You can ask a credit reporting body not to do this. In addition, if you have or suspect you have been a victim of fraud, you can ask the credit reporting body not to use or disclose any information it holds about you.

We may use and disclose your Personal Information, including contact details, to send you information about the LoanPrep App, products or services we offer, as well as other information that may be of interest to you. This may include third party products and services. We may send this information in a variety of ways, such as by mail, email, SMS, telephone, social media or by customising online content and displaying advertising on the LoanPrep App.

We may also use or provide your details to other organisations and third-party vendors for specific marketing purposes, such as to personalise or provide target marketing to you.

If you do not wish to receive any of these marketing communications, you can opt out by following the unsubscribe instructions included in the relevant marketing communication, or by contacting us using the contact details set out in section 16 below.

In the course of providing you with access to, and use of, the LoanPrep App, our products and services, it may become necessary or desirable to disclose Personal Information to Third Party Providers located overseas. The countries in which these overseas recipients may be located will depend upon the individual circumstances. However, in the course of our ordinary business operations we commonly disclose Personal to the following overseas recipients:

The laws where these overseas recipients may be located provide various levels of protection for Personal Information which are not always equivalent to the level of protection that may be provided for in Australia. Where we transfer your Personal Information overseas, LoanPrep will take reasonable steps to ensure that your Personal Information is treated securely, and the means of transfer provides adequate safeguards.

By accessing or using the LoanPrep, products and services, or providing your Personal Information to us, you explicitly and freely consent to the transfer of your Personal Information to our overseas Third Party Providers. If you do not wish to receive information from any of our Third Party Providers, please let us know using the details below. However, if you do not provide your Personal Information to us or our Third Party Providers, we may not be able to provide you with access to, and use of, the LoanPrep and our products and services.

We will take steps that are reasonable in the circumstances to ensure that the Personal Information that we hold is protected from misuse, interference and loss and from unauthorised access, modification or disclosure. We hold Personal Information in both hard copy and electronic forms in secure databases on secure premises, accessible only by authorised staff.

We protect your information using physical, technological and administrative security measures to minimise and manage the risks of unauthorised access, disclosure, use and alteration of your Personal Information.

The transmission of information via the Internet is not completely secure. We cannot guarantee the security of your data transmitted to our online services and any transmission is at your own risk. This extends to any third party website linked to the LoanPrep App.

We retain Personal Information for as long as reasonably needed for the purposes described in this Privacy Policy, including to provide the LoanPrep App, products and services to you, to resolve disputes or complaints, for internal business purposes and to comply with our record keeping obligations. Retention depends on the type of record, the purpose for which it is held and any applicable legal requirement. For example, we may retain records of user consents, your credit scores (in de-identified form) and other non-Personal Information.

You may ask us to close your account or delete information by contacting us. Deleting your account does not necessarily require immediate deletion of every record. We may need to retain particular records for an ongoing lawful purpose or a legal requirement. We will explain any relevant limitations when responding to your request.

When Personal Information is no longer needed for a purpose for which it may lawfully be used or disclosed, we take reasonable steps to destroy or de-identify it, unless retention is required by law or regulatory authority. Where deletion from backups is not immediate, we restrict further use and manage deletion through the applicable backup cycle. Copies held independently by Brokers or lenders are subject to their own retention arrangements.

We take steps reasonable in the circumstances to ensure Personal Information (including credit information) it holds is accurate, up-to-date, complete, relevant and not misleading. Under the Privacy Act, you have the right to access and seek correction of your Personal Information including credit information) that is collected and held by us.

If at any time you would like to access or correct the Personal Information (including credit information) we hold about you, or you would like more information about our approach to privacy, please contact us via the contact details set out in section 16 below. We will grant access to the extent required or authorised by the Privacy Act or other law and take steps reasonable in the circumstances to correct Personal Information (including credit information) where necessary and appropriate.

We will deal with any request to access or correct your Personal Information (including credit information) within a reasonable time. To obtain access to your Personal Information (including credit information):

1. (a)you will have to provide proof of identity to ensure that Personal Information (including credit information) is provided only to the correct individuals and that the privacy of others is protected; and
2. (b)we may charge you a reasonable administration fee, which reflects our costs in providing you with access to your Personal Information (including credit information) in accordance with your request.

If we do not agree with the corrections you have requested, we are not obliged to alter your Personal Information (including credit information) accordingly. However, where we refuse to correct any Personal Information (including credit information) as requested by you, we will give you a written notice which sets out the reasons for our refusal.

LoanPrep and our Third Party Providers may collect information by automated means when you access and use the LoanPrep App by utilising features and technologies of your internet browser, including cookies and similar technologies. A cookie is a piece of data that enables us to track and target your preferences.

The type of information we and our Third Party Providers collect may include statistical information, details of your operating system, location, your internet protocol (IP) address, the date and time of your visit, the pages you have accessed, the links which you have clicked and the type of browser that you were using and browser and login authentication status. We do not use advertising or marketing cookies.

We may use cookies and similar technologies to:

1. (a)enable us to identify you as a return user, make it easier for you to login to the LoanPrep App and personalise and enhance your experience and use of the LoanPrep App; and
2. (b)help us improve our products and services to you when you access the LoanPrep App and to ensure that the LoanPrep App remains easy to use and navigate.

Most browsers are initially set up to accept cookies. However, you can reset your browser to refuse all cookies or warn you before accepting cookies.

If you reject our cookies or similar technologies, you may still use the LoanPrep App but may only have limited functionality of the LoanPrep App.

We may also use your IP address to analyse trends, administer the LoanPrep App and other websites we operate, track traffic patterns and gather demographic information.

Services that the LoanPrep App may use from time to time include PostHog analytics, which transmits website traffic data to PostHog servers. PostHog analytics does not identify individual users or associate your IP address with any other data held by PostHog. We use reports provided by PostHog analytics to help us understand traffic and usage on the LoanPrep App. By using the LoanPrep App, you consent to PostHog processing your data in the manner described in PostHog’s Privacy Policy (https://posthog.com/privacy) and for the purposes set out in this Privacy Policy.

PostHog may pass on cookies to its partners and other third parties to achieve its purposes. For more information on how PostHog uses the information collected from cookies, and how you can opt out of this feature please see PostHog’s Privacy Policy. You can also view PostHog’s analytics’ currently available opt-out (see https://posthog.com/privacy).

If you have any complaints or issues you wish to raise with us regarding the way we have handled your Personal Information or credit information, or you would like to discuss any issues about our Privacy Policy, please contact us directly by email at info@loanprep.com.au or by calling us on (08) 6256 5695. Please provide us with full details of your complaint and any supporting documentation.

We will treat your complaint seriously and handle it confidentially so far as reasonably possible while investigating and responding. We aim to acknowledge complaints within 10 business days and provide a substantive response within 30 days. If more time is needed, we will explain why and keep you informed of progress.

If you are unhappy with a response that you have received from us, you may direct your complaint to the Office of the Australian Information Commissioner. Information about making a complaint is available at www.oaic.gov.au or by telephone on 1300 363 992.

Our Site may contain links to third party websites. Please be aware that the terms of this Privacy Policy do not apply to external websites. If you wish to find out how any third parties handle your Personal Information (including credit information), you will need to obtain a copy of their privacy policy.

For privacy enquiries, access or correction requests, changes to sharing instructions or complaints, please contact:

Privacy Officer LoanPrep Pty Ltd Email: info@loanprep.com.au Phone: (08) 6256 5695

You may also contact us to request a copy of this Privacy Policy in an accessible format. We will take reasonable steps to provide a copy free of charge in the form you request.

We may update this Privacy Policy from time to time to reflect changes to the LoanPrep App, products and services, our practices and procedures or as required by law. We will make the updated version available through the LoanPrep App. Where appropriate, we will draw material changes to your attention through the LoanPrep App or by email. If a change requires consent, we will obtain it before relying on that consent.

We encourage you to check our website from time to time to ensure you are familiar with our latest Privacy Policy.