Privacy

COLLECTION OF PERSONAL INFORMATION

At The Loan Broker Limited we want to provide the best possible service to our clients by making the most efficient use of your personal information. It is very important that you feel confident that any information provided to us is treated with the utmost degree of privacy.

We are bound by the Privacy Act 1993 and our aim is to ensure that we comply with the Privacy Principles that form the basis of laws introduced to strengthen privacy protection for the general public.

COLLECTION OF YOUR INFORMATION

It is essential in the course of our business activities of providing loan specialist services to collect and hold personal information about our clients.

This will include personal details, employment information and financial affairs. When you complete a loan application you will be consenting to our obtaining personal information about you from a number of sources including credit agencies. Without this consent we will not be able to process your loan application.

When collecting information we:

  • Assess our client’s current situation to enable us to choose the most appropriate product for their needs.
  • Establish and maintain a database for tracking the complete loan process from initial application through to settlement.
  • Only collect personal information about you from lawful and fair means, without being unreasonably intrusive.
  • Endeavour to collect information directly from you, whenever possible. Where it’s not reasonable and practical, we may collect information directly from a third party, for example;
  1. A credit report will be requested from Veda Advantage or another credit reporting agency in the course of assessing a loan application.
  2. Personal Property Security Reports will be requested.
  3. Bank Statements or Mortgage Statements may be requested where you have not directly provided what is required.
  4. Settlement statements from your short term Lenders to determine your loan history and final balance when consolidating debt.
  5. A valuation may be requested direct from the Valuer and readdressed to the appropriate Lender.
  6. If you’re using your property as security for the loan your current Land Rates Invoice may be requested from your local District Council to determine if any money. This will need to be paid if not current and can form part of your borrowings.
  7. Depending on what you are using as security, insurance on your car, boat, house etc will be required. A Certificate of Currency may be requested from your Insurance Company with the new Lender noted as an Interested Party.

CONSENT

In most circumstances we will speak to you and get your verbal consent before we can collect, use or disclose personal information. Alternatively, you may print off the Privacy Act Waiver Form, sign it and get your signature witnessed and then return to us.

DISCLOSURE

The Loan Broker Limited does not generally disclose personal information to any other party unless:

  • consent is given by you
  • it is required or authorized by law
  • it is necessary to complete a business transaction

Personal Information may be disclosed where consent has been obtained. Consent may be received directly from a client, from a third party, or may be implied from a client’s conduct.

Personal Information may be required in accordance with taxation law, or under subpoena to a Court of Law.

Personal Information is only disclosed to parties outside The Loan Broker Limited where it is required to complete business activities. Some examples where this may occur are:

  • To Lenders for the completion of loan applications
  • To Credit Reporting agencies, Introducers, Lender’s Mortgage Insurance companies, Valuers, Debt Collection Agencies, Government Authorities including District Councils, and Insurance Companies.
  • To the Mortgage Broker who originally serviced your needs
  • Specialist advisers, such as Accountants and Solicitors (both yours and ours)

ACCURACY

It is essential that personal information is accurate and kept up to date at all times to effectively conduct our business activities, so we will contact a client to determine if any personal details have changed. Please contact us at any time to update your personal information, or to advise us that information held by us is inaccurate or incomplete.

ACCESS

Clients can request access to their personal information by contacting us direct. A basic summary of personal information (e.g., name, address, phone numbers), is freely available.

In some situations, where the information goes beyond a basic summary, a fee may be charged to cover the cost of retrieving and supplying the information. This cost will be reasonable.

We will endeavour to handle all requests for personal information within 10 working days of receiving the request.

There are some circumstances where requests for access to your information may be denied, such as where the information may relate to existing or anticipated legal proceedings, where denying access is required or authorised by law, or where the request for access is regarded as frivolous or vexatious. If we refuse access we will advise you of our reasons for doing so.

SECURITY

It is of utmost importance to us that personal information is protected from unauthorized access, loss, modification, misuse, or disclosure. Our client files are held in secure filing cabinets.

When information is no longer required, or an application has been withdrawn, we ensure that it is deleted from our systems or destroyed in a secure manner.

We may use agents and other third parties to provide some services to us and for this purpose we sometimes need to provide them with relevant parts of the information obtained from you as part of the application process. These third parties are required to keep your information confidential and use it only for the purposes for which they are permitted.

WEBSITE SECURITY

We take all reasonable steps to protect your security when using our website but please be aware that no transmission of information to and from web sites or via email is ever totally secure.

COMPLAINTS

If you feel your information has been mishandled or in breach of the Privacy Act please direct your complaint to:

The Director
The Loan Broker Limited
PO Box 72-606
Papakura 2244
Auckland

We will seek to address any concerns you have through our complaints handling process, but if you wish to take matters further please refer your concerns to the Office of the Privacy Commissioner.