Terms and Conditions

Welcome to Loanity. By accessing our website and engaging our services, you agree to be bound by the following Terms and Conditions. These terms outline the professional relationship between you and Green Idea Pty Ltd, our service obligations, and your responsibilities as a client.

1. Our Identity and Role

Loanity is a trading name of Green Idea Pty Ltd (ABN 48 618 444 787), Credit Representative Number 561946.

We act as a finance broker, facilitating connections between you and various lenders on our panel. Our role is to provide information regarding credit contracts and assist you in the application process for home loans, investment loans, and other finance products.

The services and information provided by Loanity are general in nature and do not constitute legal, taxation, or financial advice. We do not assess the legal implications of your credit arrangements. It is a condition of our service that you seek independent legal and financial advice before entering into any formal credit contract.

3. Our Panel of Lenders

We maintain a diverse panel of lenders; however, this panel does not encompass the entire market. While we strive to find a product that meets your objectives, we cannot guarantee that we have access to every available lender in Australia. If you require a specific lender not on our panel, we may attempt to facilitate this subject to accreditation requirements.

4. Fees, Charges, and Credit Quote Clarification

Loanity is committed to fee transparency. While many of our services are compensated by the lender, certain circumstances require us to charge for our professional time and resources.

  • Credit Quote Requirement: In any instance where a fee or charge is applicable—including brokerage fees, consultancy fees, or cancellation fees—Loanity will provide you with a formal “Credit Quote.” This document will clearly explain the exact amount of the fee, the reason for the charge, and when it is payable. We will not commence work that incurs a fee until you have reviewed and signed this Credit Quote.
  • Standard Brokerage: Typically, no direct fee is payable for residential mortgages as we are remunerated by the lender.
  • Processing & Cancellation Fees: If you decide to cancel your application after a pre-approval or formal offer has been obtained but prior to settlement, a cancellation fee may apply to cover administrative and professional costs. The specifics of this fee will be fully detailed and explained in your Credit Quote prior to the submission of your application.

5. Commission and Referral Fees

Loanity receives financial benefits from lenders. Typically:

  • Upfront Commission: Between 0% and 2.25% of the total amount borrowed.
  • Ongoing (Trail) Commission: Between 0% and 0.55% of the outstanding balance. We may also pay referral fees to third parties who introduced you to our service. Full transparency regarding these benefits will be provided in your Credit Proposal Disclosure.

6. Your Acknowledgements and Responsibilities

By engaging our services, you warrant and agree that:

  • Accuracy: All information you provide regarding your financial position (income, assets, debts) is true, accurate, and complete. We and our lenders rely on this information.
  • Suitability: You have verified that the loan product meets your long-term financial goals.
  • Indemnity: You release and indemnify Green Idea Pty Ltd (t/a Loanity) against any loss, damage, or cost arising from this agreement or the reliance on information provided by you.

7. Compliments & Complaints

We are committed to transparency. If you have feedback or a complaint, please contact our Broker Team Manager:

  • Postal Address: 22 Greenbank Rd, Athelstone SA 5076
  • Email: info@loanity.com.au
  • Phone: 1300 667 694

If we cannot resolve your complaint internally, you may contact the Australian Financial Complaints Authority (AFCA):

  • Tel: 1800 931 678
  • Web: www.afca.org.au
  • Address: GPO Box 3, Melbourne, VIC 3001

We collect and use your personal and credit information to prepare loan applications and verify your identity. Failure to provide this information may result in an inability to secure finance. You authorise us to disclose your information to lenders, mortgage insurers, and credit reporting bodies as required.

9. Intellectual Property

All website content, including text, logos, and tools, is the property of Green Idea Pty Ltd. Unauthorised use or reproduction of our content is strictly prohibited.

10. Governing Law

These Terms and Conditions are governed by and construed in accordance with the laws of South Australia.

11. Miscellaneous

  • Interest Rates (APR): Interest rates are set by the lenders, not Loanity.
  • Fixed Rate Expiry: Upon the expiry of a fixed-rate term, lenders typically revert to a standard variable rate. It is your responsibility to contact us to review your options prior to expiry.