Consumer Terms and Conditions

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

By using, browsing or accessing the LoanPrep App and Services, you acknowledge that you have read, understood and accept these LoanPrep App Consumer Terms and Conditions (agreement), together with our Privacy Policy, and agree to abide by them. If you do not accept this agreement, you must not access and use the LoanPrep App and Services.

In this agreement, Consumer, you and your means the individual or legal entity who subscribes to the LoanPrep App as a potential borrower and whose details are listed in the Account Login page (and includes anyone acting on your behalf or with your express or implied authority).

The LoanPrep App is a technology platform that matches potential borrowers with potential lenders and connects borrowers with mortgage brokers should a borrower choose to be introduced to a mortgage broker (Services). These matches are provided for preliminary information only and do not constitute financial, legal or tax advice. LoanPrep is not a credit provider, lender, mortgage broker or financial advisor.

The information provided on this LoanPrep App is for general informational purposes only and does not constitute an offer to lend or financial advice. We use the information you provide to us to connect you with mortgage brokers who may be able to provide you with credit assistance. The mortgage broker who you have been referred to will independently review your financial circumstances and discuss suitable lending options with you based on your personal circumstances, lending requirements and objectives. Once you have been referred to a mortgage broker, we take no further part in providing you with credit assistance. The LoanPrep App and our role in providing you with access and use of the LoanPrep App and the Services should be construed strictly in this context only.

LoanPrep reserves the right to change any provision of this agreement in any way and we may, in our absolute discretion, add or remove any function or feature of the LoanPrep App, or suspend, add or discontinue all or any part of the Services provided in connection with the LoanPrep App by providing you with reasonable written notice or by otherwise posting it on the LoanPrep App.

If you do not agree to these changes, you may terminate the agreement at any time in accordance with clause 14.

To create and setup an account on the LoanPrep App (Account), you must:

1. (a)provide your full name and email address and complete an initial questionnaire (Initial Steps). Once the Initial Steps have been completed, you will be sent an email with a link within 48 hours to complete a mortgage-readiness questionnaire and to verify your identity. Once your identity has been verified, you can complete the Account registration process. Your Account will be operated by a username and password (Password). You may change your Password at any time in the Account Login page; and
2. (b)be at least 18 years of age and legally able to enter into contractual relations. If you are not at least 18 years of age, you should not access or use the LoanPrep App and Services. We reserve the right to ask for proof of age from you, and your Account may be suspended until satisfactory proof of age is provided.

You are responsible for:

1. (a)maintaining control over, and the confidentiality of, your Account;
2. (b)keeping your Account registration information current, complete, accurate, and truthful. All Personal Information as well as the information you provide to setup your Account is subject to our Privacy Policy. You must not impersonate another account holder or provide false identity information to gain access to or use the LoanPrep App or the Services;
3. (c)promptly notifying us in writing of any changes to your Account registration information and any other information you provided to us;
4. (d)notifying us immediately in writing of any unauthorised access to, or use of, your Account; and
5. (e)for all activities or transactions that occur using your Account. We are not liable for any loss or damage arising out of, or in connection with, any unauthorised access or use of, your Account.

LoanPrep has the right to suspend or terminate any Account or your access or use of all or any part of the LoanPrep App, at any time, if, in our opinion, you have failed to comply with any of the provisions of this agreement.

When accessing and using the LoanPrep App and the Services, you must:

1. (a)obtain and maintain all compatible hardware, software and communications equipment necessary to download, access, and use, the LoanPrep App and the Services;
2. (b)ensure that all information you provide to us is true, accurate, complete and not misleading (including the information you submit when completing the mortgage-readiness questionnaire);
3. (c)comply with all of our directions, policies and guidelines advised in writing to you or as displayed on the LoanPrep App from time to time.

LoanPrep will not be liable to you or anyone else if, for any reason, the LoanPrep App and the Services are unavailable at any time or for any period. From time to time, we may suspend or restrict access to all, or some parts of the LoanPrep App and the Services.

You must not:

1. (a)not misuse or abuse the LoanPrep App by sending false alerts, engaging in unlawful activity, or interfering with the operation or security of the LoanPrep App;
2. (b)introduce, access, store, distribute or transmit any viruses, worm, trojan or other malicious code into the LoanPrep App;
3. (c)violate any LoanPrep IP or any third party’s Intellectual Property Rights;
4. (d)provide us with fraudulent, false or misleading information for the purpose of obtaining a favourable Credit Readiness Report;
5. (e)copy, modify, duplicate, create derivative works from, frame, mirror, republish, transmit or distribute all or any portion of the LoanPrep App, or any other third party software that you may access or use through the LoanPrep App, in any way;
6. (f)access all or any part of the LoanPrep App and/or the Services in order to build a product, service or code which competes or reproduces the LoanPrep App and/or the Services (in full or part);
7. (g)modify, alter, adapt, reverse compile, disassemble, reverse engineer or otherwise reduce to human-perceivable form all or any part of the LoanPrep App in any way, or otherwise learn the source code or algorithms underlying the LoanPrep App;
8. (h)license, sell, rent, lease, sub-let, white-label, transfer, assign, distribute, display, disclose, or otherwise commercially exploit, encumber or otherwise make the LoanPrep App and the Services available to any third party; and
9. (i)use the LoanPrep App or the Services for any unlawful purpose or other purpose not authorised by us in writing.

We reserve the right to limit your use of the LoanPrep App, the Services and/or any other ancillary products or services made available to you on, or via, the LoanPrep App, including the right to restrict, suspend or terminate your Account if we believe you are in breach of this agreement or you are misusing the LoanPrep App.

When your Account is created, we will request your consent to LoanPrep accessing your Credit Score held with a credit reporting agency for the purpose of assessing your credit worthiness.

By providing your consent for LoanPrep to access your Credit Score, you authorise us to:

1. (a)to collect, hold, use and disclose Personal Information, including credit related personal information, about you in accordance with our Privacy Policy; and
2. (b)disclose Personal Information about you to a credit reporting agency for the purpose of obtaining and assessing your Credit Score.

After the mortgage-readiness questionnaire has been completed and a copy of your Credit Score obtained by us, LoanPrep will provide you with a Credit Readiness Report and we will request your consent to disclose (i) your Contact Details; (ii) Credit Score; (iii) Credit Readiness Report; and (iv) other information (including Personal Information) contained in the mortgage-readiness questionnaire (collectively, Credit Package), to one Broker only who may be able to provide you with credit assistance. If the Broker does not contact you within three Business Days, you consent to us providing your Credit Package to one of our Affiliates for the purpose of providing you with credit assistance.

If you do not authorise us to access your Credit Score:

1. (a)the Credit Readiness Report provided to you will not be complete, accurate or current and we do not warrant, represent or guarantee that any potential lender you are matched with will be suitable; and
2. (b)we will seek your consent before disclosing your Contact Details and the information contained in the mortgage-readiness questionnaire to a Broker. If the Broker does not contact you within three Business Days, you consent to us providing your: (i) Contact Details; (ii) Credit Readiness Report; and (iii) the information contained in the mortgage-readiness questionnaire, to one of our Affiliates for the purpose of providing you with credit assistance.

If you authorise us to provide your Contact Details to a Broker, we do not warrant, guarantee or represent that the Broker will contact you within a specific timeframe or at all.

Subject to your compliance with the terms of this agreement, LoanPrep shall use reasonable endeavours to provide you with access to and use of the LoanPrep App and the Services.

The undertaking in clause 8.1 shall not apply in the event of:

1. (a)any non-conformance which is caused, or contributed, by use of the LoanPrep App contrary to our instructions or the terms of this agreement;
2. (b)modification or alteration of the LoanPrep App by any party other than us or our duly authorised Personnel;
3. (c)the unsuitability or malfunction of the LoanPrep App when used in conjunction with any software, platforms, applications and tools supplied by a third party provider; and
4. (d)Force Majeure Events.

In the event that LoanPrep fails to provide you with the Services in accordance with clause 8.1, we will use reasonable endeavours to correct any such non-conformance or provide you with an alternative means of accomplishing the desired performance. The foregoing constitutes your sole and exclusive remedy for any breach of clause 8.1.

We do not charge you a fee to access and use the LoanPrep App and Services. However, we reserve the right to charge you a fee to access and use the LoanPrep App and Services (or to access and use new functions and features of the LoanPrep App) at any time upon 30 days’ written notice to you by email or by posting to the LoanPrep App.

The fee changes will come into effect 30 days after receiving written notice from us of the fee changes. If you do not agree to these fee changes, you must terminate this agreement no later than 30 days after the date you received written notice of the fee change.

You acknowledge that LoanPrep, or our licensors, are the owners of the LoanPrep App (and any Intellectual Property Rights contained therein) including any information, Content or technology that may be provided to, or accessed by, you in connection with your use of the LoanPrep App and the Services (including any modifications, enhancements of the foregoing) (collectively, LoanPrep IP). Accessing and using the LoanPrep App and the Services does not give you (or anyone else) ownership of, or any right, title or interest in the LoanPrep App.

By accessing and using the LoanPrep App and Services, we grant you a non-exclusive, non-transferable, personal, revocable and non-sublicensable licence to access and use the LoanPrep App and the Services for the Subscription Term. You will not acquire or be entitled to any rights other than those rights expressly set out in this agreement.

All trade marks, logos, trade dress and service marks on the LoanPrep App are either trade marks or registered trade marks of LoanPrep, and may not be copied, imitated, or used, in whole or in part.

You acknowledge that we are entirely reliant on you to:

1. (a)complete the mortgage readiness questionnaire honestly, properly and strictly in accordance with our instructions; and
2. (b)consent to us accessing a copy of your Credit Score from a credit reporting agency,

and that your failure to comply with your obligations under this clause 11.1, may impact on the accuracy, quality, validity and completeness of the Services (including Credit Readiness Report) provided to you through the LoanPrep App.

We make no representation, warranty or guarantee to you:

1. (a)in relation to the completeness, accuracy, legality or currency of any Credit Readiness Report provided to you; or
2. (b)about the validity, honesty, integrity or credibility of any lender you are matched with or any Brokers you are referred to, or the willingness of any Broker or lender to provide you with credit assistance.

To the maximum extent permitted by Relevant Laws, LoanPrep excludes all express or implied representations, conditions, statutory guarantees, warranties and provisions (whether based on statute, common law or otherwise), in connection with your access to, and use of, the LoanPrep App and Services.

Nothing contained in this Agreement excludes, restricts or modifies the application of any condition, warranty or other obligation, the exercise of any right or remedy, or the imposition of any liability under the Competition and Consumer Act 2010 (Cth) or any other national, State or Territory legislation where to do so is unlawful.

You acknowledge, and agree that to the maximum extent permitted by Relevant Laws, we make no representation, warranty or guarantee:

1. (a)in relation to the availability, continuity, reliability, accuracy, currency or security of the LoanPrep and the Services (or any Content or Third Party Products and Services provided in connection with the LoanPrep App); and
2. (b)that the LoanPrep App and Services (or any Brokers introduced to you or any Third Party Products or Services made available to you on, or via, the LoanPrep App and Services) are error-free, virus free or is suitable for any particular purpose or use under any specific conditions, and so is provided on an “as is” and “where is” basis.

We will not be liable to you if the LoanPrep App and/or the Services is, or becomes unavailable, for any reason, including directly, or indirectly as a result of:

1. (a)telecommunications unavailability, interruption, delay, bottleneck, failure or fault;
2. (b)negligent, malicious, willful acts or omissions of third parties (including third party providers) or other users;
3. (c)the technical limitations of your mobile device or any software, hardware and communications equipment used by you to access and use the LoanPrep App and Services;
4. (d)maintenance (scheduled or unscheduled) carried out by us or any third-party provider, including in respect of any of the systems or network used in connection with the provision of the LoanPrep App;
5. (e)services provided by third parties (including internet service providers) ceasing or becoming unavailable; or
6. (f)a Force Majeure Event.

You warrant, acknowledge and agree that your use of the LoanPrep App and Services have not been made on the basis of any representations made by LoanPrep in relation to the current or future functionality or features of the LoanPrep App and Services (or any Third Party Products or Services made available to you on, or via, the LoanPrep App and Services).

LoanPrep shall use commercially reasonable endeavours to make the LoanPrep App and the Services available 24 hours a day, seven days a week, except for:

1. (a)planned maintenance carried out at times advised in advance by LoanPrep; and
2. (b)unscheduled maintenance which may need to be performed from time to time. LoanPrep will, where practicable, use reasonable endeavours to conduct any unscheduled maintenance outside of Business Hours.

We are not responsible to you or anyone else for any actions, activities, conduct or transactions (whether online or offline) that occur between you, a lender or Broker introduced to you by us through the LoanPrep App.

To the maximum extent permitted by Relevant Laws, LoanPrep will not be liable to you or any third party for:

1. (a)any Claims or Losses (including Consequential Loss); or
2. (b)loss of, or damage to, any property or any personal injury, illness or death to you or any third person,

arising out of, relating or connected to, the provision or use of the LoanPrep App and Services by you (including Content, any lender or Broker introduced to you through the LoanPrep App and/or Third Party Products and Services generated or made available through the LoanPrep App or the Services) and this agreement, regardless of the cause of action on which they are based, even if advised of the possibility of such damage occurring.

All risk in using the LoanPrep App and the Services passes to you upon creating an Account or otherwise using the LoanPrep App and the Services (whichever is earlier). LoanPrep assumes no responsibility, and we have no liability to you or anyone else for any use of, or reliance on, any Content, financial advice or financial or credit assistance provided to you by a lender or Broker introduced to you through the LoanPrep App and/or Third Party Products and Services obtained or generated from your access to, and use of, the LoanPrep App and the Services.

To the maximum extent permitted by Relevant Laws, under no circumstances will LoanPrep’s aggregate liability to you or anyone else, whether based upon warranty, contract, statute, tort (including negligence) or otherwise, exceed the greater of $10 or the amount you paid to LoanPrep under this agreement in the one month immediately preceding the date on which the Claim giving rise to such liability arose.

You agree to defend, indemnify and hold LoanPrep, our Affiliates and our Personnel (collectively, the Indemnified) harmless from and against any and all Claims or Losses, that may be brought against the Indemnified or which the Indemnified may pay, sustain or incur as a direct or indirect result of or arising out of:

1. (a)your access to, and use of, or reliance on the LoanPrep App or the Services (including the Content and Third Party Products and Services);
2. (b)any credit or mortgage brokerage assistance and services provided to you by a lender or a Broker introduced to you through the LoanPrep App;
3. (c)any breach of the LoanPrep IP or any third party’s Intellectual Property Rights or other rights caused by you or your Personnel;
4. (d)negligent, willful, fraudulent or wrongful act or omission, committed by you or your Personnel; or any Broker introduced to you through the LoanPrep App
5. (e)any breach of Relevant Laws and Privacy Laws caused by you or Personnel; or
6. (f)any breach of this agreement by you or Personnel.

All Personal Information you provide to open an Account (including Personal Information) and any other information you upload, share, or publish on, or via, the LoanPrep App, is subject to our Privacy Policy, which is incorporated into this agreement. Except in the case of Brokers, we do not disclose, sell or share your Personal Information with providers of Third Party Products and Services.

By accessing and using the LoanPrep App and Services, you consent and authorise LoanPrep to:

1. (a)collect, hold, use and disclose Personal Information (including credit related Personal Information) about you for the purpose of assessing your credit worthiness, including disclosing Personal Information to, and obtaining Personal Information from credit reporting agencies;
2. (b)use Personal Information collected from you, credit reporting agencies or other third parties to provide you with Services, including using your Personal Information to refer you to Brokers for the purpose of providing with credit assistance.

You warrant that, in relation to any Personal Information comprising your registration information, credit-related information or any other information disclosed to us by you on, or via, the LoanPrep App:

1. (a)it has been collected in accordance with Privacy Laws;
2. (b)you have the authority to upload, post, publish or otherwise transmit such information on, or via, the LoanPrep App; and
3. (c)you have obtained the informed consent of the individuals who are the subject of such Personal Information in order for us to use, disclose, store, transfer, process or handle it.

During the Subscription Term you may terminate this agreement at any time by selecting the ‘delete account’ button on the Account Login page.

We may terminate or discontinue the LoanPrep App or any major functions or features of the LoanPrep App and/or the Services at any time (without liability to you) by 21 days’ written notice to you, or by otherwise posting it on the LoanPrep App.

You agree that LoanPrep may, at any time and at our sole discretion, with or without cause or any notice to you, terminate, suspend or block your access to (either temporarily or permanently):

1. (a)your Account; and/or
2. (b)the LoanPrep App and the Services; and/or
3. (c)any social media pages linked to our business or the LoanPrep App; and/or
4. (d)any other products and services offered on, or via the LoanPrep App (including Third Party Products and Services).

Cause for such suspension or termination may include, but are not limited to:

1. (a)any serious or repeated breaches or violations of this agreement, our policies and guidelines and any other agreements entered into between the parties;
2. (b)serious or repeated breaches or violations of another person’s Intellectual Property Rights or privacy rights;
3. (c)your activities, conduct or transactions on, or, via, the LoanPrep App, which brings, or has the capacity to bring LoanPrep and/or the LoanPrep App into disrepute; and/or
4. (d)requests by law enforcement or other government agencies.

You agree that all such suspensions or terminations shall be made at our sole discretion and that we shall not be liable to you or any third party for any such suspension or termination.

You acknowledge that the LoanPrep App and Services may require you to use or access Third Party Products and Services and that you do so solely at your own risk.

We make no representation or commitment, and we shall have no liability or obligation whatsoever in relation to the content or use of any such Third Party Products and Services, or any transactions completed, and any contract entered into by you, with the owner, licensor or operator of such Third Party Products and Services.

We recommend that you refer to the third party’s terms and conditions and privacy policy prior to using the relevant Third Party Products and Services.

LoanPrep does not endorse, sponsor or approve any Third Party Products and Services used in conjunction with the LoanPrep App and Services. It is your sole responsibility to determine that specific products or services, meet your needs and are suitable for the purposes for which they are used.

Any rights you may have to access Third Party Products and Services shall be limited to:

1. (a)the extent of LoanPrep’s ability to pass on such rights to you; or
2. (b)the relevant third-party licensor terms.

Any party claiming a dispute exists under the agreement must notify the other party in writing of the nature of the dispute (Dispute Notice), except where urgent interlocutory relief is being sought.

The parties must in good faith attempt to resolve any dispute between them.

If the dispute cannot be resolved within 30 days of receipt of a Dispute Notice, either party may commence legal proceedings in relation to the dispute.

Each party must continue to perform its obligations under this agreement notwithstanding the existence of any unresolved dispute.

Without notice to you, we may, at our absolute discretion, from time to time:

1. (a)change, add or delete the functions, features, performance, or other characteristics of the LoanPrep App; or
2. (b)apply or install updates to, or new versions of, the LoanPrep App.

You acknowledge that the Content on the LoanPrep App is subject to change at any time and may be out of date at any given time. LoanPrep are under no obligation to:

1. (a)update, correct or fix any Content or errors in the LoanPrep App; and/or
2. (b)notify you of any changes to the Content or the LoanPrep App unless required by a Relevant Law to do so.

Some of the provisions contained in this agreement may also be superseded by provisions or notices published elsewhere on the LoanPrep App. Any changes are effective immediately upon posting to the LoanPrep App. Your continued use of LoanPrep App thereafter constitutes your acceptance of all such changes to the agreement.

Please read this agreement before using the LoanPrep App, as the agreement may have changed since the last time you accessed and used LoanPrep App. If you do not agree to any change, then you must immediately stop using the LoanPrep App and the Services.

LoanPrep may, at our absolute discretion, provide you with user support services during Business Hours in accordance with the LoanPrep standard support services and maintenance policy (as amended from time to time).

If you require user support services or you are having difficulties accessing and using the LoanPrep App and the Services, you may contact us through the LoanPrep App or by email at admin@loanprep.com.au.

If any provision in this agreement is found to be invalid or unenforceable by a court of law, such invalidity or unenforceability will not affect the remainder of this agreement which will continue in full force and effect.

No agency, principal-agent, partnership, joint venture, employee-employer or franchisor-franchisee relationship is intended or created between you and us by this agreement.

You may not assign, transfer or deal in any other manner with all or any of your rights or obligations under this agreement without our prior written consent. To the extent permitted by Relevant Laws, we may, at our absolute discretion, amend the terms of this agreement and/or assign, transfer or deal in any other manner with all or any of our rights or obligations under this agreement without your prior written consent.

This agreement, and any other documents referred to in it, represent the entire agreement between us and you in relation to the subject matter and supersedes any previous arrangements, agreements, representations, understandings or statements (whether verbal, in writing, or in some other format).

The laws of the State of Western Australia govern this agreement. You agree to submit to the exclusive jurisdiction of the Courts of Western Australia.