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Our Privacy Policy is based on the best practice guidelines of the Privacy Commissioner.

Generally, the federal Privacy Act covers the collection, use and disclosure, quality and security of personal information. The federal Privacy Act also gives you rights to access and correct personal information about you. You also have the right to make a complaint if you think your personal information has been mishandled.

We will not use your e-mail address for any other purpose than to contact you with relevant information, and will not disclose it to anyone, without your consent.

This Privacy Policy applies to the services offered on the www.universalwealthmanagement.com.au website offered by Universal Wealth Management Pty Ltd (ABN 89 098 465 402).

Please read this Privacy Policy carefully before using the Universal Wealth Management website as it is conditional upon you agreeing to be bound by this Privacy Policy.

Personal Information

We are committed to safeguarding the privacy of our customers while providing a personalised service. To provide this service we will need to provide us with certain personal information.

The personal information, which we hold, will be held securely in accordance with our internal security policy and the current Data Protection laws.

Use of that Information

We use your information to provide the best possible service to you, to complete administrative functions associated with providing a mortgage facility either directly or through a third party.

We take seriously the trust you have put in us and will not disclose this information without your prior consent; except for exceptional circumstances, such as a disclosure is required by law.

Use of Cookies

We may use technology to track the behaviour patterns of visitors to our website. This can include using a "cookie" which is stored on your computer.

Cookies do not themselves personally identify users, although they do identify a client's browser. Cookies allow us to remember the information you have entered as you move through our website, and let us know how many people are using the different parts of the site.

You can usually modify your browser to prevent this happening, but please note that this may reduce the functionality of this and other websites.

When We Will Contact You

We will not email you unless you have given us your consent. However if you have consented we will send you news updates from time to time with information we feel will be of interest to you. At any time you can choose to decline these newsletters and marketing material from us by updating your customer profile on this website or contact us on (03) 9440-7269 and we will update it for you.

Links to Other Websites

Universal Wealth Management provides links to other websites. These linked sites are not under our control and we are not responsible for the conduct of these companies. Before disclosing your personal information on any other website, we advise you to read their Terms of Use.

Accessing Your Information

The information we hold needs to be accurate and up to date for us to provide a personalised service. You can check the information that we hold about you by contacting us on (03) 9440-7269 and we will confirm what information is held.

Future Changes

Our commitment to be a leading provider of online and offline financial services means that our business is evolving as we introduce new services and features throughout our website and mortgage shops. Because of this, our Privacy Policy will be reviewed from time to time to take account of new laws, technology, changes to our operations and practices and to make sure it remains appropriate to the changing environment.

If you have any questions or comments about our Privacy Policy, you should email them via our contact form.

Common Loan Terms

Variable interest rate loans are the standard or traditional loan. The interest rate moves, up and down, in line with the money market, throughout the term of the loan.

Discount or Basic variable rate loans are a "no frills" loan facility which may have a lower interest rate than the standard variable rate and fewer or "pay for" features. Interest rates and repayments can fluctuate up and down in line with money market changes.

Introductory (Honeymoon) low interest rate loans usually offer a set discount off the standard variable rate for a limited time after the loan is taken up. The discount may last for 12 months to 3 years after which the rate converts to the standard variable rate. Penalties or interest adjustments may apply for early repayment of the loan.

Fixed interest rate loans are a fixed interest rate for a fixed term loan, repayments are set for a period of time, loan terms usually for 1, 2, 3, 5, 7,10 & 15 years.

100% Mortgage offset facility is a separate deposit account that is connected to the loan account. An offset account may reduce the amount of interest that a borrower repays on their loan. The amount of credit funds held in the account is deducted from the debit loan balance prior to interests being calculated on the outstanding daily balance.

Professional Packages usually includes the supply of a group of products and a discounted interest rate on the loan; most have an annual package fee and have minimum loan amounts to qualify for any discount to the interest rate.

No ongoing account keeping fees - No monthly or annual fee is charged for having the loan facility.

Redraw Facility may allow the withdrawal of any extra amount of money that has been paid into the loan account above the required minimum repayment.

Loans that are portable between properties provide the borrower to keep the same loan if they buy a new property and it settles on the same day as the property that has been sold.

A Pre-approval certificate for a loan amount can be arranged so that a borrower is sure how much money the lender will allow them to borrow, this is a preliminary credit assessment and does not guarantee that a loan will eventually be approved. The credit provider needs to assess the security property being offered to ensure it is suitable security.

Interest payment options include:

Principal and interest - this option pays down the principal from the first payment making sure that the investor pays off the loan over a period of time.

Interest only - this option allows you the flexibility to reduce your loan commitment for periods of 1-5, 7, 10 or 15 years.

Interest in advance - this option is available on fixed Interest rate investment loans and allows the investor to prepay the interest 12 months in advance. An interest discount of around .25% is usually offered when this option is selected.

Lenders' Mortgage Insurance

Lenders' Mortgage Insurance protects the credit provider and not the borrower. If a borrower defaults on their loan and the property is sold for less than the outstanding amount on the loan the Lenders’ Mortgage Insurer will cover the credit providers loss. The borrower remains liable for any amount owing under the contract even if the mortgage insurer has paid that amount to the lender. The credit provider is the beneficiary of the insurance policy, it is the borrower who pays the one off insurance premium.

At Universal Wealth Management, we take complaints seriously.

If you have any complaint in relation to the services provided to you, you need to inform us without delay.

Universal Wealth Management dispute resolution system consists of:

• Internal Dispute Resolution (IDR) procedures that comply with ASIC standards and that cover complaints made by borrower clients about our services provided.
• Membership of Credit Ombudsmen Service Limited (COSL) an external dispute resolution scheme, approved by ASIC, that covers complaints made by retail clients in relation to the finance broker services provided by Universal Wealth Management.

Any complaint received by Universal Wealth Management is handled case-by-case, and applicable remedies will vary due to the unique circumstances of each complaint. These remedies include, however are not limited to: written or verbal explanation of issue; referring to and explaining disclosure documents and inherent risks; refunding or crediting a client account; assisting complainants in formulating or lodging complaints; and determining and implementing case- specific remedies.

Complaints will be handled at no charge to the complainant, subject to statutory requirements.