This Target Market Determination (TMD) has been prepared in accordance with the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 (Cth) and associated Regulations. TMDs are designed to assist issuers to ensure that the financial products they issue are likely to be consistent with the likely objective, financial situation and needs of the consumers for whom they are intended (the target market) and to assist distributors to ensure that financial products are distributed to the target market.
This TMD is general in nature and should not be treated as a full summary of the Product’s terms and conditions or be construed as financial advice. Consumers should obtain independent advice prior to acquiring the product to ensure that it is appropriate for their objectives, financial situation and needs.
Short term bridging loan to fund the purchase of a new property prior to settlement of an existing property.
This product is issued by Property Credit Pty Ltd ACN 638 329 674, Australian Credit Licence Number 528878 (Property Credit)
29 September 2026
Description of target market, including likely objectives, financial situations and needs
This product has been assessed as meeting the likely objectives, financial situation and needs of consumers who:
Description of product including key attributes*
This product’s key attributes include the following:
* The Loan Term, Facility Amount, fees and charges and Loan to Value ratio will vary depending on the consumer’s circumstances.
Class of customers for whom this product is not suitable
This product may not be suitable for consumers who:
Explanation of why the product is likely to be consistent with the likely objectives, financial situation and needs of consumer in the target market
The product allows consumers who intend to sell an existing property to borrow monies to fund the purchase of a new property prior to receiving settlement proceeds from the sale of their existing property. This product addresses a materially different need and risk profile from the Equity Release Facility, involving larger loan amounts, different security arrangements, and the specific objective of bridging the gap between purchasing a new property and settling on the existing one. Consumer needs and objectives must relate to purchasing a new property prior to settlement of an existing property. Customers must meet Property Credit’s eligibility criteria.
This product can be distributed through the distribution channel set out below.
1. Direct – Property Credit’s website and sales team
Property Credit staff are adequately trained to assist applicants with loans and must follow all documented procedures to ensure that the product is distributed in accordance with this TMD. Property Credit will ask screening questions as part of the application to ensure that a prospective borrower is within the target market set out above.
Property Credit considers this is an appropriate distribution channel because the nature of the target market and the requirement of all sales staff to have the necessary training, skills and knowledge to assess whether the consumer is within the target market and whether the product is in the best interest of the particular consumer.
Note: Property Credit may from time to time receive referrals from commercial property conveyancers, accountants, tax advisors, or commercial real estate agents. Where such persons act solely as “mere referrers” (limited to informing consumers that Property Credit can provide this product and providing Property Credit’s contact details), they are not treated as distributors for the purposes of this TMD and are not subject to the distribution conditions set out above. All lending decisions and target market assessments are made by Property Credit through its direct application process.
The following events are review triggers that would reasonably suggest that the TMD is no longer appropriate:
First review date
6 months after the date of this TMD
Period review
Every 12 months after the initial and each subsequent review.
Trigger Review
Review to be completed within 10 business days of the identification of a trigger event.
As Property Credit is the sole distributor of this product (distributing directly via its website and sales team), the reporting requirements below are maintained as internal data collection and monitoring obligations. Property Credit will collect and record the following information from its own origination and sales processes to enable ongoing monitoring of the TMD’s appropriateness and to comply with its record-keeping obligations.
| Type of Information | What is reported | When it is reported |
|---|---|---|
| Product complaints | Information relating to complaints received by Property Credit about the product or its distribution process, including:
Complaints must be handled in accordance with Property Credit’s internal dispute resolution procedures and relevant regulatory guides. | Recorded at the time of receipt. Complaint data to be reviewed quarterly as part of Property Credit’s ongoing TMD monitoring. Any systemic complaint trends to be escalated for TMD review within 10 business days of identification. |
| Consumer and product feedback | Any feedback received by Property Credit about the product, including: consumer feedback received through the application process, customer portal, or customer support channels; feedback or observations from Property Credit’s sales team regarding consumer suitability, product performance, or distribution process effectiveness; and any information that may indicate the TMD is no longer appropriate. | Collected on an ongoing basis. Reviewed and assessed at least quarterly as part of Property Credit’s internal TMD monitoring process. |
| Significant dealings | Property Credit will monitor its origination data to identify any significant dealing in the product that is not consistent with this TMD. A dealing will be considered significant having regard to: (a) the proportion of consumers acquiring the product who are not in the target market; (b) the actual or potential harm to consumers; (c) the nature and extent of inconsistency with this TMD; and (d) the time period in which dealings outside the target market occurred. If Property Credit identifies a significant dealing, it will: record the dates, description, and identification method of the dealing; record the steps taken or to be taken in relation to the dealing; and notify ASIC in writing as required by law. | Ongoing monitoring through Property Credit’s origination systems. ASIC notification to be made as soon as practicable and in any event within 10 business days after Property Credit becomes aware of a significant dealing. |