Privacy Statement

Privacy Consent and Declaration

We are committed to protecting your privacy however we do not make credit inquiries and so we are not required to obtain your signed consent.

This policy explains how your personal information will be treated as you access and interact with this website.

Our website privacy policy may change from time to time.

Collection and use of your information

We may collect personal information from you directly or via your use of our services. We will only collect personal information which is reasonably necessary for, or directly related to, our functions or activities.

We and our  representatives will only seek to collect necessary information from you in order to provide you with the credit assistance you have sought from us. We may also use this information for purposes associated with our services such as follow-up calls to assist you. We will not ask you to disclose sensitive information, but if you elect to provide sensitive information it will also be captured and stored.

Disclosure of personal information

We and our  representatives will never unnecessarily exchange your personal or business information with any third party for any reason, unless compelled by force of law. However, in order to assist you, we may be required to provide your personal information to certain organisations. If your information is not provided, we may be unable to assist you. The types of organisations include:

  • Lenders;
  • Credit Reporting Agency
  • Mortgage insurer
  • Valuers
  • Other mortgage intermediaries;
  • Other organisations that assist us such as printers, mailing houses, lawyers, debt collectors, accountants and other auditors

Access and alterations to your personal information

You can gain access to your personal or company information or advise alterations to that information by contacting our office:

Contact Person: Andrew Hunter
Address: PO Box 287, Dorrigo NSW
Email: ahunter@expathomeloans.com.au

Marketing

From time to time, Peach may contact you with information about products from either ourselves or our industry affiliates that we believe may interest you. To opt-out of receiving such information, simply let us know by contacting us directly using the office details above.

Web Use

Cookies

We use ‘cookies’ to provide you with better and more customised service and with a more effective website.

A ‘cookie’ is a small text file placed on your computer by our web page server. A cookie can later be retrieved by our webpage servers. Cookies are frequently used on websites and you can choose if and how a cookie will be accepted by configuring your preferences and options in your internet browser.

We use cookies for different purposes such as:

·                     to allocate a unique number to your internet browsers;

·                     to customise our website for you;

·                     for statistical purposes;

·                     to identify if you have accessed a Third Party Website; and

·                     for security purposes.

IP addresses

Your IP address is the identifier for your computer when you are using the internet.

It may be necessary for us to collect your IP address for your interaction with various parts of our website.

Online applications

When you send a completed online application to us, we retain the information contained in that application.? We are able to then use that information to provide any financial services that you require.

You may also suspend and save online applications (not currently offered), so you can complete and send the applications at a later time. If you suspend or save your application, the information that you have entered will be retained in our systems so that you may recover the information when you resume your application. Online applications that have been suspended or saved may be viewed by us.

Security of information

The security of your information is very important to us.

We regularly review developments in security and encryption technologies. Unfortunately, no data transmission over the internet can be guaranteed as totally secure.?

We take all reasonable steps to protect the information in our systems from misuse, interference, loss, and any unauthorised access, modification or disclosure.

If we no longer require your information, and we are legally permitted to, we will take all reasonable steps to destroy or de-identify the information.

We take reasonable steps to preserve the security of cookie and personal information in accordance with this policy. If your browser is suitably configured, it will advise you whether the information you are sending us will be secure (encrypted) or not secure (unencrypted).

Direct marketing

We will not use or disclose sensitive information about you for direct marketing purposes unless you have consented to that kind of use or disclosure.

We may use your personal information for direct marketing purposes.? If you do not wish to receive direct marketing communications from us or from other organisations, or wish to know the source of the information being used, you may submit a request .? We will respond to your request as soon as practicable.

Disclosure to overseas entities

We do not generally disclose personal information obtained from cookies to overseas entities in the course of our activities.

Security of your personal information

We take reasonable steps to ensure the security of your personal or company information from unauthorised access, theft or modification.

Feedback on the handling of your personal information

Should you be unsatisfied in the manner in which we have handled your personal information please contact us (per details listed above). We will take all necessary steps to investigate and address your concerns. If the issue you have raised is not resolved to your satisfaction you should contact the Office of the Australian Information Commissioner at:

Ph: 1300 363 992
e: enquiries@oaic.gov.au
Mail: GPO Box 5218
SYDNEY NSW 2001.

You can learn more about the Privacy Act and your rights at www.privacy.gov.au

 

Returning home to Australia from overseas

This can catch a lot of people off guard – after all you may have spent a few years overseas gaining experience or qualifications and with any luck you were able to put a few dollars aside in order to have a healthy deposit for your home back in Oz….  take a deep breath.

The main issue is employment – lenders want stable employment and so unless you are lucky enough to work for a multi-national and can transfer then you will be unemployed on arrival.  Even if you have a job lined up it won’t count until you actually start work and earning income.  It is basically illegal in Australia to arrange finance for a person unless they have the means to repay the loan – there is no such thing as an ‘asset lend’ in terms of Australian residential lending.  Many  lenders will want to see at least six months employment in current position, although as with almost all policy there are exceptions.

If your new job is in a completely new field or profession then you can expect lenders to ask you to wait between 6 to 12 months to demonstrate that you are settled in the new role.  If you are on a probationary period many lenders will want to wait until that is over and if LMI applies then they will very likely refuse cover until probation is over.  If you are starting a new business then 12 absolute minimum and two years for the majority of lenders however, as with everything there are exceptions but not many.

Even if you are going into a similar role but have spent the last 6 months travelling many lenders will want to see some evidence that you are now “settling down” you can expect these lenders to want to see 6 to 12 months of settling down before they will accept you.

Don’t forget currency movements if you are overseas and your plans to return are some way in the future it may be wise to take advantage of appealing FX rates when they pop up and transfer what funds  you can to AUD and so remove the last minute pressure to take it or leave it.  We are often asked “can foreign currency be accepted as security”? The answer is No.

Does it pay to shop around

Talk to bank staff and they will normally say “she’ll be right”  and plough ahead with a loan inquiry for your application.  You see they don’t care about how that may impact on your credit file they just want their figures to look good – they get their salary either way.  Why is a mortgage broker different?  We don’t get paid unless your loan goes all the way to settlement, so it’s not in our interest to lodge an application unless we are confident that it will proceed to the end.

It might sound contradictory but unless you are careful shopping around for home loans can damage your credit history.  As lenders are very quick to make an inquiry and each inquiry can start to count against you particularly with the large lenders who use ‘credit scoring’ or where lenders mortgage insurance applies (LMI).

At the same time it would be a bit reckless to simply take the first offer that a lender makes.  So what is the answer – use a licensed mortgage broker.

A licenced mortgage broker will normally have a panel of lenders – a typical panel would be around twenty five lenders and should include a cross section of major banks, second tier banks and smaller member owned lenders.  This will give the chance to see   a range of features and unless your loan is greater than $500,000 the smaller lenders are often more competitive with more personal service.

An experienced mortgage broker will know which lender is offering the best deals and how well they treat their customers.  If your mortgage broker appears to be pushing a single product then ask them to explain why and be prepared to get a second opinions – mortgage brokers do not need to do credit checks so should have no impact on your credit history.