Important Notice to Applicants for Credit - Section 18E(8)(c) Privacy Act 1988

Please read carefully

Challenge Mortgages may give information about you to a reporting agency, but only limited kinds of information allowed by the Privacy Act 1988 (Commonwealth). This includes:

1. Identity particulars - this only includes your name, sex, date of birth, current known address, up to two immediate previous addresses, your current or last known employer and your driver's licence number.
2. The fact that you have applied for credit and the amount.
3. The fact that Challenge Mortgages is a credit provider to you.
4. Payments overdue far at least sixty days, when Challenge Mortgages has taken steps to recover.
5. Advice that payments are no longer overdue
6. Cheques for an amount greater than $100 drawn by you which have been dishonoured more than once.
7. The opinion of Challenge Mortgages that you have committed a serious credit infringement.
8. When the credit provided to you has been discharged.

Statement by Applicant(s) for credit

1. Type of Credit. The credit I/we am/are applying for is contained in the application.

2. Giving information to a certain reporting agency - Section 18E(8)(c) Privacy Act 1988. Challenge Mortgages has informed me/us that it may give certain personal information about me/us to a credit reporting agency. I/we understand that Challenge Mortgages can only give limited kinds of information which are set out in the Privacy Act 1988 and examples of which are listed above.

3. Exchanging information with other credit providers - Section 18N(1)(b) Privacy Act 1988. I agree to Challenge Mortgages checking personal information about me with any credit provider named in my credit application, and with other credit providers that may be named in a credit report issued by a credit reporting agency, for any of the following purposes:

1. To assess my credit worthiness
2. To assess my application by me for credit
3. To help me avoid defaulting on my credit obligations
4. To notify a default by me
5. The collection of overdue payments.

I understand that this information can include any information about my creditworthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or to receive from each other under the Privacy Act 1988.

4. Access to Commercial Credit information - Section 18L(4) Privacy Act 1988. For the purpose of assessing my application for credit, I consent to Challenge Mortgages obtaining a report containing information about my commercial activities or commercial creditworthiness, from a business which provides information about the commercial creditworthiness of a person.

5. Access to Consumer Credit information for a Commercial Credit application - Section 18K(1)(b) Privacy Act 1988. If my application is for Commercial Credit, I consent to Challenge Mortgages obtaining from a credit reporting agency a credit report about me containing credit information (in order to assess my application).

Loan Application Fee

Challenge Mortgages charges a loan application fee of $20.00. Challenge Mortgages does NOT refund this fee if the application is unsuccessful.

Privacy Statement and Consent

[NB: For the purposes of this Statement and Consent, "personal information" is information about and which identifies individuals. It includes information obtained from an individual or a third party and includes anything about creditworthiness, standing, history and capacity which under or in accordance with the Privacy Act 1988, may lawfully be exchanged.]

1. I/we acknowledge that, except where you are required by the Financial Transaction Reports Act to identify me/us, it is not compulsory for me/us to disclose personal information to you in connection with this application but without it, you may not be able to grant my/our application. Subject to the Privacy Act, 1988, I/we may, at any time, access the personal information you hold about me/us by contacting Challenge Mortgages.
   
2. I/we agree that personal information provided to you at any time in connection with this application or product may be held and used by you to assess and process the application, establish, provide and administer he product and execute my/our instructions. In doing so, I/we agree that you may exchange personal information about me/us with credit reporting agencies and other financial institutions. If I/we was/were introduced to you through my/our employer/s or another sponsor I/we agree you may exchange information with the organisation that introduced me/us.
   
3. I/we agree that you may use my/our personal information, as relevant, to: consider other applications I/we make; comply with legislative and regulatory requirements; conduct market satisfaction research; develop, establish and administer alliances and other arrangements; develop and identify products and services that may interest me/us; and (unless I/we ask you not to) provide me/us with information about other products and services.
   
4. I/we agree that you may also exchange my/our personal information with: your agents, contractors and external advisors; regulatory bodies and government agencies; my/our referees (including my/our employer/s); external payment systems operators; your and my/our insurers or prospective insurers (and underwriters); other organisations with whom you have alliances or arrangements to promote or provide or respective products and services (and their agents and contractors); an organisation proposing to fund the acquisition of or acquire any interest in any obligation I/we may owe you (and that organisations agents and advisers); any person to the extent necessary, in your view, in order to carry out my/our instructions; and (unless I tell you not to) other organisations (including your related bodies corporate) for the marketing of their products and services.
   
5. I/we acknowledge that, notwithstanding anything else in this statement, I/we may, at any time after my/our application has been approved, advise you that I/we do not wish to receive any direct marketing communications. I/we may do this by contacting Challenge Mortgages.

Declaration by Applicants

1. I/we declare that the information given in my/our application is true, correct and complete and that I/we have never committed any act of Bankruptcy or had any judgments or legal proceedings against me/us, except for the particulars if noted under this Fact Sheet for Loan Application.
   
2. I/we authorise the collection, use and disclosure of information about me/us in the manner set out under the heading "Privacy Statement and Consent" above. I/we represent that, if at any time I/we supply you with personal information about another person (for example a (referee), I/we am authorised to do so and I/we agree to inform that person who you are, that you will use and disclose their information and that they can gain access to the information you hold about them.
   
3. I/we authorise the Peel Valley Credit Union to make any relevant enquiries into the references mentioned, my employer or any other credit provider.
   
4. I/we acknowledge that a credit reporting report will be obtained.
   
5. I/we agree that this information will remain the property of the Challenge Mortgages.

-- October 2003