This TMD is not intended to provide you with financial advice nor is it a substitute for the product’s terms and conditions or other disclosure documents. Please refer to our Terms and Conditions and Credit Guide before deciding product suitability. Our product terms and conditions will be provided to you upon request.

• • have a registered and compliant Self-Managed Super Fund (SMSF) and are:
    • Trustee of a SMSF;
    • The SMSF Trustee must hold a beneficial interest in the security property and must have a right to acquire the property from the Property Trustee and is permitted to borrow in accordance with all relevant legislative requirements and any associated regulations; and
    • The Property Trustee, which holds the legal interest in the security property on trust for the SMSF, must meet all relevant legislative requirements and any associated regulations;
  • require a loan to purchase or refinance a SMSF investment property where the property type is either residential, commercial or NDIS (SDA Approved) property;
  • require an offset account;
  • require the flexibility of a variable interest rate;
  • require the ability to make additional extra repayments without penalty;
  • interest only repayments for an agreed period of time or principal and interest repayments; and
  • satisfy our eligibility criteria;

The financial situation of the Target Market are consumers that meet our credit assessment criteria which includes demonstrating serviceability of the loan, the capacity to make the required repayments and the ability to pay off the loan without substantial hardship. Upon application Columbus will undertake an assessment to determine the consumer’s ability to service the loan, which is our process of determining that the product is consistent with the financial situation of the Target Market.

• do not meet the eligibility requirements;
• are seeking the certainty of fixed interest rate over a period of time;
• are looking to purchase an owner occupied property;
• are looking to purchase a property that will not be part of their SMSF; or
• are looking to construct a property.

• Direct
  • Online
  • By phone
  • In person (e.g. branch, agency, or premises visit)
• Third party – Accredited mortgage brokers subject to their Best Interests Duty (BID) obligations

The distribution channels and conditions are appropriate because:

• the product has a wide target market;
• our staff have the necessary training, knowledge and accreditation (if required) to assess whether the consumer is within the target market. All of our staff must continually satisfy annual compliance reviews.
• we rely on existing distributors, methods, controls and supervision already in place;
• our approval system has checks and controls in place to flag applicants who may be outside the target market; and
• accredited mortgage brokers are subject to BID to ensure that the product is in the best interests of the particular consumer.

• Hold an Australian Credit Licence or be a Credit Representative authorised to engage in credit activities on behalf of a credit licensee; and
• Comply with the terms and conditions of any relevant distribution agreement or arrangement with the Product Manager.

This condition ensures distributors are appropriately authorised to provide the relevant regulated financial services and will comply with the commercial terms agreed between the distributor and Product Manager.

This condition applies to all conduct by the distributor.

• A significant dealing of the product to consumers outside the target market occurs;
• Unexpected trends in consumer outcomes which are significantly inconsistent with the intended product performance;
• A significant number of material complaints are received from consumers in relation to the product;
• Unexpected early stage arrears are detected;
• A significant number of defaults occur;
• A significant breach has occurred in connection with the issuing and distribution of this product;
• A significant number of late repayments are being recorded;
• A material change is made to this product;
• Evidence that the product or distributor conduct are significantly different to the target market; or
• The receipt of a product intervention power order from ASIC requiring us to immediately cease retail product distribution conduct in respect of the product.

If a review trigger occurs, we will complete a review of the TMD within ten business days. Meanwhile, we will cease to offer this product to our customers until our TMD review concludes and any necessary changes to the product or TMD, including distribution methods, are made.