1. What do we offer?

    If, after uno Home Loans (Australian Credit Licence 483595 ) (‘uno’, ‘we’, ‘us’) provides an Eligible Applicant with a Credit Proposal, the Eligible Applicant can evidence a Better Deal than uno’s Proposed Loan within 72 hours of receiving uno’s Credit Proposal, uno will pay the Eligible Applicant the difference in minimum contractual monthly repayment amounts between the Customer’s Better Deal and uno’s Proposed Loan over the first year.

  2. What are the terms of our offer?

    • uno’s offer, outlined in these terms and conditions, is valid between 17/03/2017 and 31/12/2017, unless extended by uno in its absolute discretion (“Offer Period”).
    • This offer is only available to Eligible Applicants (defined in section (3) below), and is subject to these terms and conditions.
    • As all home loans are subject to assessment by uno and its lenders, we cannot promise that:
      • you will be an Eligible Applicant; or
      • even if you are an Eligible Applicant, a lender will fund your home loan (which must be Comparable Products) over the first year, within 90 days of their uno Home Loan settling.
    • Our offer does not apply to:
      • any home loan that is not applied for and settled through uno Home Loans. That is, our offer to ‘pay the difference’ will not be paid if the customer settles their loan directly with a lender or through a mortgage broker other than uno;
      • any product uno assesses as unsuitable for the customer after undertaking an assessment;
      • a customer’s current existing home loan; or
      • any Better Deal that is evidenced to us by the customer outside 72 hours from receiving uno’s Credit Proposal or outside the Promotion Period.
    • uno will determine, acting reasonably, whether or not the Customer Proposed Loan is a Better Deal than the uno Proposed Loan by applying the definitions of Better Deal and Total Cost in section (3) below.
    • If we agree that an Eligible Applicant has evidenced a Better Deal, we will pay the Eligible Applicant, subject to clause f(iii) below, the difference between the Customer’s Better Deal and the uno Proposed Loan, as follows:
      • The difference will be calculated as the monthly repayment amounts for the first year of the uno Proposed Loan minus the monthly repayment amounts for the first year of the Customer Proposed Loan;
      • Payments will be made monthly by EFT or direct debit to your nominated bank account or home loan account, commencing within 90 days of settlement of your home loan (subject to clause f(iii)); and
      • ‘Pay the difference’ monthly payments will immediately cease if you default on your home loan for any reason in the first 12 months; repay in full and discharge your mortgage in the first 12 months; and will only recommence when the loan has been brought back up-to-date in full and on time.
    • In the event of any dispute by an Eligible Applicant about whether or not a proposed loan is a Better Deal, the Eligible Applicant can request a product comparison document from uno, summarising the reasons for uno’s determination. uno will consider the dispute and respond in a timely manner. Please refer to your Credit Guide for more information on uno’s complaint handling processes.
    • uno Home Loans reserves the right, in its absolute discretion, to withdraw this offer from the market at any time and for any reason. In doing so, uno will honour any payments that have already been agreed with uno prior to the offer being withdrawn.
  3. Definitions

    For the purposes of these terms and conditions:

    • ‘Better Deal’ for Eligible Applicants means the particular credit contract that:
      • is a Comparable Product to uno’s Proposed Loan in uno’s reasonable opinion;
      • is assessed as being not unsuitable for the customer;
      • is available to the customer from the particular lender;
      • fulfils the customer’s stated requirements and objectives;
      • has a lower Total Cost over the Selected Period than uno’s Proposed Loan; and
      • meets the customer’s stated product terms and features (loan term, interest rate type, repayment type, repayment frequency, structure and product features); and
      • is evidenced, in the form of either a credit proposal from a mortgage broker or an indicative, conditional or final approval from a lender, or a loan contract offer from a lender.
    • ‘Comparable Product’ means a Customer Proposed Loan in the form of either a credit proposal or an indicative or conditional approval or loan offer from a lender which has identical loan term, interest rate type, repayment type, repayment frequency, structure and product features to the uno’s Proposed Loan described in the served Credit Proposal.
    • ‘Credit Proposal’ means the document of that name served on you by uno after it has undertaken a full assessment of your financial situation and requirements and objectives, that outlines the uno proposed loan (lender, product, features and fees).
    • ‘Customer Proposed Loan’ means the proposed loan evidenced by the customer within 72 hours of receiving a uno Credit Proposal.
    • ‘Eligible Applicant’ means an applicant who is provided a Credit Proposal by uno during the Promotion Period.
    • ‘Selected Period’ means the customer’s specified time frame (between 1 – 360 months) for preferred Total Cost calculation for the purposes of this offer.
    • ‘Total Cost’ means home loan interest charges (calculated assuming perfect repayment conduct in accordance with the loan contract) and upfront and ongoing fees (other than ongoing behavioural fees), outlined in the Home Loan contract.
    • ‘uno Home Loan’ means the loan applied for and settled through uno Home Loans.
    • ‘uno’s Proposed Loan’ for Eligible Applicants is the particular credit contract that:
      • is assessed as being not unsuitable for the customer;
      • is available to the customer from the particular lender;
      • Fulfils the customer’s stated requirements and objectives; and
      • Meets the customer’s stated requested product details (loan term, interest rate type, repayment type, repayment frequency, structure and product features).