Target Market Determinations

Design & Distribution Obligations (DDO) & Target Market Determinations (TMDs)

1. Our Commitment to Responsible Lending

At MortgageXpress, we are committed to ensuring that all credit products are offered responsibly and in accordance with Australian regulatory requirements. Under the Design and Distribution Obligations (DDO) in the Corporations Act 2001 (Cth), issuers and distributors of financial products must ensure products are directed to the consumers for whom they are designed. Our approach ensures that:

• Customers receive products suited to their needs, goals, and financial situation
• Lending is transparent, compliant, and responsible
• We meet our regulatory obligations as both a mortgage broker and mortgage manager

2. What is a Target Market Determination (TMD)?

A Target Market Determination (TMD) is a regulatory document issued by a product provider. It sets out: Key elements of a TMD:

• Target Market – The class of consumers the product is intended for
• Product Features – Key attributes, benefits, and eligibility criteria
• Distribution Conditions – Rules on how the product may be offered
• Review Triggers – Events or circumstances that require the TMD to be reviewed
• Distributor Reporting – Obligations for reporting complaints or significant dealings

Important: A TMD is not personal advice, not a loan contract, and does not guarantee approval.

3. How MortgageXpress Meets DDO Obligations

We ensure compliance by:

• Distributing products in line with TMDs
• Assessing each customer’s needs and circumstances
• Recommending products that are not unsuitable (as required under the NCCP Act)
• Following all issuer distribution rules
• Monitoring and reporting complaints and significant dealings to product issuers
• Maintaining internal compliance processes to ensure consistent responsible lending practices

4. Accessing Product TMDs

MortgageXpress distributes credit products from multiple lenders and funders.

• The TMD for each product will be made available under its product category.
• Categories include:
  • Home loans
  • Investment loans
  • Near-prime and specialist loans
  • Mortgage manager channel products
  • Mortgage broking channel lender products
  • Custom or non-standard credit solutions

This ensures customers can review the TMD before selecting a product, helping them understand the product’s intended target market.

5. Important Information for Customers

• A TMD does not consider your individual circumstances
• It is not an offer of credit or a recommendation
• Eligibility is subject to full assessment and lender approval
• Always read the loan contract, Key Facts Sheet, Credit Guide, and Credit Proposal Disclosure before proceeding
• Our team can assist in understanding a TMD and what it means for your situation

6. Need Assistance?

If you are unsure which product is suitable, simply contact us or submit your scenario online. A MortgageXpress consultant will guide you through the options and help you understand which products may align with your goals and financial circumstances.