Privacy Policy
How we collect, use, and protect your personal information
Last Updated: January 2025
1. Introduction
Your Lending Friend Pty Ltd (ABN 72 669 448 560) ("we", "us", "our") is committed to protecting the privacy of your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you visit our website or use our finance broking services.
We are bound by the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) and the credit reporting provisions of the Privacy Act.
2. Information We Collect
We may collect the following types of personal information:
Identity Information: Full name, date of birth, gender, and copies of identification documents (driver's licence, passport, Medicare card).
Contact Information: Residential address, postal address, email address, phone numbers.
Financial Information: Employment details, income information, assets, liabilities, bank statements, existing loan details, and credit history.
Credit Information: Credit reports, credit scores, and information about your credit history including defaults, repayment history, and credit enquiries.
Sensitive Information: With your consent, we may collect information about your health or disability status if relevant to your loan application.
We collect this information through: - Online application forms on our website - Phone conversations and email correspondence - Third-party sources such as credit reporting bodies, employers, and financial institutions - Our aggregator and lender partners
3. How We Use Your Information
We use your personal information to:
- Assess your eligibility for finance products
- Submit loan applications to lenders on your behalf
- Compare products from our panel of lenders
- Communicate with you about your application and our services
- Verify your identity and conduct credit checks
- Comply with our legal and regulatory obligations
- Improve our services and customer experience
- Send you marketing communications (with your consent)
We will only use your information for the purpose for which it was collected, unless you consent to another use or as permitted by law.
4. Disclosure of Your Information
We may disclose your personal information to:
Lenders and Credit Providers: To submit loan applications and assess your eligibility for finance products.
Our Aggregator: Viking Aggregation Pty Ltd (ACL 543046), who provides us with access to lender products and compliance support.
Credit Reporting Bodies: To obtain credit reports and verify your credit history. The main credit reporting bodies we use are Equifax, Illion, and Experian.
Professional Advisers: Lawyers, accountants, and other professional advisers as necessary.
Government and Regulatory Bodies: Where required by law or to comply with our regulatory obligations under the National Consumer Credit Protection Act 2009 (NCCP Act).
Service Providers: Third-party providers who assist us with IT, document storage, and other business functions.
We do not sell your personal information to third parties for marketing purposes.
5. Credit Reporting
When you apply for credit through us, we may:
- Obtain a credit report about you from a credit reporting body
- Provide your personal information to lenders who will conduct their own credit checks
- Disclose information to credit reporting bodies about credit applications made on your behalf
Credit reporting bodies may include information we provide in reports to other credit providers. You have the right to request access to the credit information we hold about you and to request corrections if it is inaccurate.
6. Security of Your Information
We take reasonable steps to protect your personal information from misuse, interference, loss, unauthorised access, modification, or disclosure. Our security measures include:
- Secure, encrypted connections for all data transmission
- Password-protected systems and databases
- Regular security assessments and updates
- Staff training on privacy and data protection
- Secure document storage and disposal procedures
While we strive to protect your information, no method of transmission over the internet or electronic storage is 100% secure. We cannot guarantee absolute security.
7. Your Rights
Under Australian privacy law, you have the right to:
Access: Request access to the personal information we hold about you.
Correction: Request correction of any inaccurate, out-of-date, incomplete, or misleading information.
Complaint: Lodge a complaint if you believe we have breached the Australian Privacy Principles.
Opt-out: Opt out of receiving marketing communications from us at any time.
Withdraw Consent: Withdraw your consent for us to use your information for specific purposes.
To exercise any of these rights, please contact us using the details below.
9. Changes to This Policy
We may update this Privacy Policy from time to time to reflect changes in our practices or legal requirements. We will post any changes on this page and update the "Last Updated" date below.
We encourage you to review this policy periodically to stay informed about how we protect your information.
10. Contact Us
If you have any questions about this Privacy Policy, wish to access or correct your personal information, or want to make a complaint, please contact us:
Your Lending Friend Pty Ltd ABN: 72 669 448 560
Address: Level 3, 116 Military Road, Neutral Bay NSW 2089 Phone: 0408 383 736 Email: emily@yourlendingfriend.com.au
If you are not satisfied with our response to your complaint, you can contact the Office of the Australian Information Commissioner (OAIC) at www.oaic.gov.au or by calling 1300 363 992.