Claiming a Home Equity Access Scheme (HEAS) loan 065-19060359

Item

Description

1

Verbal declaration script

Read the following to customers when they make a request under sections 1136 and 1137AA of the Social Security Act. Customers must accept the below details and the terms and conditions of HEAS.

• The information in this application for HEAS loan payments under the Home Equity Access Scheme (HEAS) formerly known as the Pension Loans Scheme (PLS) is complete and correct
• The declarant is making a request for an application for Home Equity Access Scheme (HEAS) under
• Section 1136 if declarant claiming HEAS fortnightly (LON) payments of the Social Security Act 1991 to participate in HEAS
• Section 1136 and 1137 if declarant claiming both HEAS fortnightly (LON) payments and HEAS Advance (LONA) payment of the Social Security Act 1991 to participate in HEAS
• Section 1137 if declaration claiming a HEAS advance (LONA) payment of the Social Security Act 1991 to participate in HEAS
• You will notify Centrelink of any changes to this information within 14 days of the change(s) occurring
• You have read and understand the terms and conditions of HEAS
• If declarant’s partner making a request: You agree to <partner> making a request under
• Section 1136 if partner is claiming HEAS fortnightly (LON) payments of the Social Security Act 1991 to participate in HEAS
• Section 1136 and 1137 if the partner is claiming both the HEAS fortnightly (LON) payments and HEAS Advance (LONA) payment of the Social Security Act 1991 to participate in HEAS
• Section 1137 If the partner is claiming a HEAS advance (LONA) payment of the Social Security Act 1991 to participate in HEAS
  If partnered: you agree to the information in the HEAS loan application being made available to your partner so they can decide whether to agree to the application
  You have read the terms and conditions of Electronic messaging and online letters if you have provided a mobile phone number or email address
  You have read and understand the privacy notice

2

Verbal acknowledgement script

This text details the terms and conditions and presented to the customer as they make the declaration. Written consent is still collected from customer and partner.

• You may need to provide further information if requested
• Giving false or misleading information is a serious offence
• Centrelink can make relevant enquiries to ensure you receive my correct entitlement
• Any information you provide on this application may be used to determine eligibility and suitability for services for me and (where relevant) my partner and any third parties
• You need to advise Centrelink of any changes to your circumstances that may affect participation in HEAS within 14 days of the change(s) occurring
• HEAS loan payments cannot start until this statement is accepted and all supporting documentation is provided to Centrelink
• Interest will be charged on the outstanding balance of my HEAS loan and compounded fortnightly until the debt is fully repaid
• HEAS loan payments advanced to you will be reduced from the maximum of any fortnightly loan payments you would get for the next 26 fortnights and you may get less loan payment each fortnight
• You understand you can only take out two HEAS loan advances in any 26 fortnight period
• The nominated property will be taken as security against the HEAS loan will have a registered charge or a caveat against the title of this property, with any costs incurred by the Commonwealth associated with registering or removing this charge or caveat being payable by me in accordance with section 1143 of the Social Security Act 1991.
• You can change the rate of your HEAS loan payments you receive under HEAS at any time by a request to Centrelink
• You may terminate receipt of fortnightly HEAS loan payments by a request to Centrelink, and either repay the loan in full or leave the outstanding balance, including accruing interest, to be recovered when the property is sold or from my estate after my death.
• Your fortnightly HEAS loan payments will cease once the Maximum Loan Amount is reached
• You must notify Centrelink if you intend to change the title details or dispose of a property secured for the purpose of this HEAS loan
• Your partner must to provide their signed agreement for your HEAS loan application for payments. If the signed agreement is not received then your HEAS claim will be rejected
• You agree to the information within your HEAS loan application being made available to your partner so they can decide whether to agree to the application
• You understand if you fail to comply with the terms and conditions of your HEAS loan, misrepresent your circumstances or commit fraud then the No Negative Equity Guarantee may not apply to your HEAS loan when you settle your Home Equity Access Scheme (HEAS) loan amounts
• You understand the No Negative Equity Guarantee only applies when you settle your HEAS loan in full and any voluntary repayments you make may reduce the benefit of the No Negative Equity Guarantee
• Your receipt of your fortnightly, advance or combination or fortnightly and advance payments may be affected if you do not do any of the above