Legal
Privacy Policy, Legal Disclosures, and Regulatory Information.
Privacy Policy
Madox Finance Limited (“Madox Finance”, “we”, “us”, “our”) is committed to protecting the privacy of personal information in accordance with the Privacy Act 2020 and the Credit Reporting Privacy Code 2020 (New Zealand). This policy explains how we collect, use, store, and disclose personal information in connection with our residential mortgage lending services. It applies to visitors to our website and to anyone who applies for or holds a loan with us.
Information we collect
We collect personal information that is reasonably necessary to assess, process, and manage lending applications and ongoing loan relationships. This may include your full name and contact details; date of birth and proof of identity; employment and income details; financial statements and bank records; property details and valuations; credit history and credit reports; information from your accredited mortgage adviser; and any other information relevant to your lending application.
We collect personal information directly from you, from your authorised mortgage adviser, and from third parties where you have authorised us to do so. Third-party sources may include credit reporting agencies, Inland Revenue (for income verification), open banking providers, employers, accountants, solicitors, valuers, and other financial institutions.
How we use your information
We use your personal information to assess your lending application, verify your identity, manage your loan account, comply with our legal and regulatory obligations (including the AML/CFT Act 2009 and the CCCFA), communicate with you about your loan, and improve our services. We use your information only for the purpose for which it was collected, or a related purpose you would reasonably expect.
Automated processing and artificial intelligence
We use automated tools, including artificial intelligence, to help us verify identity, check documents for signs of alteration or fraud, analyse application information and bank records, screen for anti-money-laundering and sanctions purposes, and support credit assessment and servicing. No automated system makes the final decision about your loan — a qualified Madox Finance person reviews the outputs, makes the credit decision, and is responsible for it. Where these tools are provided by third parties who process information outside New Zealand, we only use providers whose terms commit that your information will not be used to train their models, and who provide safeguards that meet Privacy Act 2020 requirements for sending personal information overseas.
Credit reporting
As part of assessing and managing your loan, Madox Finance accesses credit information from a New Zealand credit reporting agency. Our credit reporting provider is:
We will obtain your written consent before running any credit check, and the purpose of the check will be disclosed to you at the time consent is obtained. Credit reports are used only for the application for which consent was given. If adverse credit information affects our lending decision, we will tell you and give you the opportunity to respond before the decision is finalised. You have the right to access and correct credit information held about you on your Centrix credit file by contacting Centrix directly. We handle credit information in accordance with the Credit Reporting Privacy Code 2020.
If we change our credit reporting provider, this policy will be updated.
Who we disclose information to
We may disclose your personal information to third parties involved in the lending and funding process, including: your accredited mortgage adviser; registered valuers; panel settlement solicitors and conveyancers; credit reporting agencies (Centrix); insurers; debt collection agencies; auditors and regulatory bodies; and other parties as required by law.
Madox Finance funds its loans through a securitisation programme, and your loan may be assigned into the Madox Finance Trust. As part of that programme, we may disclose your personal information to:
The New Zealand Guardian Trust Company Limited — Trustee of the Madox Finance Trust;
NZGT Security Trustee Limited — Security Trustee;
Bank of New Zealand (BNZ) — senior financier; and
a standby servicer, and any replacement or additional trustee, security trustee, servicer or financier appointed to the programme from time to time.
We will not sell or disclose your personal information for marketing purposes without your express consent.
Storage, security and overseas transfers
We take reasonable steps to ensure that personal information is stored securely and protected from unauthorised access, use, or disclosure. Data is encrypted in transit and at rest, and access is restricted to authorised personnel on a need-to-know basis. We keep personal information only for as long as we need it and as long as the law requires (generally at least seven years after your relationship with us ends). Where personal information is stored or processed by cloud providers, we use providers with New Zealand or Australian data centres, or with safeguards (such as Standard Contractual Clauses) that meet Office of the Privacy Commissioner requirements.
Your rights — access and correction
Under the Privacy Act 2020, you have the right to request access to and correction of any personal information we hold about you. We will respond to your request within 20 working days. If we decline a request, we will provide our reasons and inform you of your right to complain to the Office of the Privacy Commissioner (privacy.org.nz).
Complaints
If you have a concern or complaint about how we have handled your personal information, please contact our Privacy Officer at privacy@madox.co.nz in the first instance. If you are not satisfied with our response, you can contact the Office of the Privacy Commissioner (privacy.org.nz).
Complaints about our products or services more generally are handled under our Complaints Policy and may be referred to Financial Services Complaints Limited (FSCL), our external dispute resolution scheme (www.fscl.org.nz, 0800 347 257; Madox membership number 9544).
Privacy breaches
If we become aware of a privacy breach that has caused, or is likely to cause, serious harm, we will notify the Office of the Privacy Commissioner and affected individuals as soon as reasonably practicable, in accordance with section 114 of the Privacy Act 2020.
Cookies and analytics
Our website may use cookies and similar technologies to improve your browsing experience and analyse website usage. You can manage your cookie preferences through your browser settings. We may use third-party analytics services such as Google Analytics to understand how visitors interact with our website. These services may collect anonymised data about your visit.
Changes to this policy
We may update this privacy policy from time to time. Any changes will be posted on this page, and the version posted here is the current version.
Contact us
For questions, access or correction requests, or privacy complaints, please contact our Privacy Officer:
Email: privacy@madox.co.nz