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BONDEED Terms and Conditions for credit checks and personals data handling
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Foreword
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Before we jump into the legal jargon and disclosures below, we would like to start by saying that at BONDEED and our team takes privacy seriously. We do not share your personal information with third parties without necessity and we do not use your personal information for any purpose other than helping you with your property buying journey. This is our pledge to you, to keep your information safe and handle it with care.
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Consent, Terms and conditions
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MortgageMax, a division of BetterLife Origination Services Proprietary Limited and its MortgageMax Licensee1, together with other members of the BetterHome Group (comprising BetterHome Group Limited and entities in which it has a direct or indirect financial interest) (collectively “MortgageMax”, “we” or “us”), offers a range of services relating to your home journey to make your home dreams come true, seamlessly and efficiently. We accordingly offer the following services: (i) bond pre-qualification applications; (ii) credit checks; (iii) home loan applications to various credit providers2 including your nominated banks; (iv) insurance brokering services in relation to various insurance products, including amongst others, life, funeral, building and home contents insurance); (v) services regarding estate planning and wills; and (vi) personal loan services regarding assistance for transfer and bond costs; and (vii) other services that relate to the purchase of your home and/or fulfilling bond grant conditions (collectively “Services”).
By signing this form in the space provided below, you appoint us to render the Services to you and appoint us as your sole agent and on your behalf to submit an application to various financial institutions (including credit providers, banks, insurers and registered financial services providers) for home loans and/or insurance cover and/or other products relating to the Services. You agree to our Terms and Conditions available at https://www.mortgagemax.co.za.
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Declarations: I/we (the applicant/s) declare and confirm that -
• I/we are not unrehabilitated insolvents and I/we have not applied for nor am I/are we under debt rescue
• I/we hold no other citizenships and residence for local and international tax purposes, other than those disclosed in this application form. I/we will inform the relevant financial institution in writing of any change of this status within 30 days of the change of status. • I/we warrant that all information (irrespective of the format) supplied by me/us is to the best of my/our knowledge and belief true and correct in all material respects. I am not aware of any other information which would, if it were to become known to the financial institution, affect the consideration of my/our application in any way.
• The bond consultant that has assisted me has explained the advantages of paying a deposit on the property I intend on purchasing and has also explained that there are costs involved in taking transfer of the property.
• The Services provided require personal information being shared on any adequate platform including but not limited to contacting me/us via a phone call, WhatsApp, Email, SMS or any other digital means.
• The Services provided by MortgageMax are not intended to be financial, tax or legal advice and should not be construed as such. MortgageMax and their service partners are not financial planners, financial brokers or tax advisers. My/our personal financial situation is unique and therefore before making any decisions utilising the information obtained from MortgageMax, I/we shall obtain advice from an accountant or other financial advisor who is fully aware of my individual circumstances and never take up a home loan that will stretch my repayment capacity to its maximum.
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CONSENTS
In order to render the Services to you, we will process your personal information in accordance with the purpose for which it has been collected. For more information about how we protect personal information please see the privacy policy available at https://www.MortgageMax.co.za . By signing this form, you consent to MortgageMax, its MortgageMax Licensee and the BetterHome Group processing your personal information in order to render the aforementioned Services to you which includes, inter alia –
• sharing your full name and other personal information, including but not limited to the Offer to Purchase, with us and our service providers for purposes of rendering the Services to you;
• collecting your personal information (including your payslips, bank statements and identity verification information) from third parties including your financial institution, your employer(s), credit bureau, your bankers, your spouse, any co-applicant, educational institutions, any academic verification agencies and any governmental authority or other third party that processes information on behalf of any governmental authority;
• obtaining your credit report from a credit bureau and to provide that report to a financial institution as part of the credit application, provide you with advice or assistance with managing your credit and/or challenging the accuracy of information stored by the bureau. You have been made aware that you are entitled to one free report per year from any registered credit bureau;
• sharing your personal information with various third parties including, inter alia, members of the BetterHome Group, service providers to the BetterHome Group, including but not limited to credit bureaux, insurers, credit providers and financial institutions and their respective affiliates, Monify (in relation to personal loans); and any other person who requires your personal information in order for us to render or in connection with us rendering the Services or offer related banking products to you after your
approval of the financial institution’s offer to finance your immovable property;
• storing your personal information including storage on cloud facilities that may be located outside of South Africa. We will ensure that appropriate measures are put in place to protect your information in accordance with standards that are no less onerous than those imposed by South African laws; and
• sharing, retaining, and further processing your personal information for research and statistical purposes.
sharing, retaining, and further processing your personal information for research and statistical purposes.
• I agree that BONDEED will from time-to-time, as agreed with you, request Van der Riel & Associates Old Mutual or any other broker as required to contact me in connection with my Bond Cover and/or HOC (structure) Insurance.
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Our mortgage originators and BONDEED as a whole uses Email and WhatsApp as our main communication lines to stay in touch with clients and the status of their property buying journey and/or application status. By agreeing to these terms you consent for us to correspond with you via these channels in order to keep you up-to-date and to stay in touch regarding this journey.
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1 The MortgageMax Licensee means the person or business that you have engaged to render the Services to you and which has concluded a licensing agreement with MortgageMax in terms of which the MortgageMax Licensee undertakes to utilise services, systems and/or the platform provided by or on behalf of MortgageMax to render the Services to you.
2 MortgageMax currently submits applications to ABSA Bank, First National Bank, NedBank, Standard Bank, Investec, Ithala, HiP (Housing Investment Partners), Sentinel, Auto Assist, Business Fuel and RMB Private Bank, however this list is not exhaustive and new credit providers may be added to this list from time to time.