Target Market Determination – Fixed

Product Prime – Fixed Product with an optional Visa Debit Card (for Australian residents only)
Product Manager Columbus Capital Pty Ltd ACN 119 531 252, trading as Origin Mortgage Management Services, Australian Credit Licence 337303
Issuer This product will be issued by a Lender* which will be named in the loan agreement and these products are managed and serviced by the Product Manager.

The product could be issued by any of the Lenders* named below.
(a) Perpetual Corporate Trust Limited ACN 000 341 533, Australian Credit Licence 392673;
(b) Pioneer First Australia Pty Limited ACN 086 092 613;
(c) Origin Mortgages (Aus) Pty Ltd ACN 086 045 721;
(d) Origin Money Pty Ltd ACN 621 866 242; and
(e) Origin Mortgages Pty Ltd ACN 629 566 794;

to be referred to as (Columbus/we/us).

Effective Date of TMD 13 February 2024
TMD Version 2024.1
Next Review Due At least every 2 years from the Effective Date of this Target Market Determination
Product Features Prime – Owner Occupied and Investment Loans Prime Construction – Owner Occupied or Investment Loans
Interest Rate Type Fixed Fixed
Repayment Options Principal and Interest OR Interest Only, is available for an agreed period Principal and Interest OR Interest Only, is only available during the construction phase (maximum period of 12 months)
Redraw Facility Redraw facility available which enables customers to access additional repayments made over and above the minimum required repayments. Redraws are only allowed and processed for construction progressive payments only.
Visa Debit Card Yes Not available until construction is complete.
* Fees – Application fee is payable. Other fees like Settlement Fees, Valuation Fees, Offset Account Fees, Ongoing Fees, Late Payment Fees may also apply
* The Visa Debit Card is issued by Indue Ltd ACN 087 822 464. Refer to Visa Debit Card Conditions of Use and Target Market Determination for the Visa Debit Card at
Product designed for customers who: Key Product attributes appropriate for target Market
  • Seeking a property loan with certainty of fixed repayments over a set period for any of the following purposes:
    • purchasing, refinancing, or renovating a residential owner occupied or investment property;
    • purchase of house and land package;
    • building and construction finance;
    • consolidation of personal debt;
    • personal needs or personal investments; and / or
    • off the plan purchase.
  • The property loan account will receive a fixed interest rate between 1 and 5 years, meaning repayments will be fixed for the selected term.
  • The Fixed Rate loan will change to a Standard Variable Rate loan after the set fixed interest period expires. The interest rate and repayments will become variable, unless it is switched to another loan type including a new Fixed Rate loan.
  • Additional charges including an early repayment adjustment (ERA) may apply if a customer wishes to break their fixed term early.
  • Fees, charges, and third-party costs will be payable.
  • Flexibility to make additional payments more than the required monthly repayment amount up to $20,000 per annum and switch between Principal & Interest and Interest Only repayments
  • Extra repayments of up to $20,000 per annum, can be made without additional charges.
  • A customer can switch between Principal and Interest and Interest Only repayment methods – T&Cs will apply.
  • Option to link an Offset Account for the purposes of reducing the amount of interest payable under the loan
  • Credit balances in the Offset Account will reduce the balance on which interest is charged.
  • Customers can deposit, withdraw, or transact on the account via a broad range of channels by using:
    • Visa Debit Card (if the customer qualifies and it is not a construction loan);
    • Online and Mobile Application access;
    • Direct Debit and BPAY repayment facility;
    • Staff assisted channels; and
    • ATMs.


To be eligible for this product the customer must meet certain eligibility criteria, including that the customer:

    • be at least 18 years of age and above;


    • are individual borrowers (as single or joint borrowers);


    • is either an Australian Citizen or a Permanent Resident of Australia;


    • meets our lending eligibility criteria;


    • provide sufficient security in accordance with our lending eligibility criteria; and/or


    • a guarantor who supports the loan also meets our lending eligibility criteria.



The financial situation of the Target Market are consumers that:
  • meet our lending eligibility and credit assessment criteria, which includes demonstrating serviceability of the loan;
  • demonstrate the capacity to make the required repayments and the ability to pay off the loan without substantial hardship;and
  • where determined by us to be required, (based on the customers’ deposit size, security, applicant, and loan attributes), will pay Lenders Mortgage Insurance or have an acceptable guarantor;

Upon application we 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.

Distribution Channels Product Distribution
  • Staff assisted channels (e.g., via email or phone)
  • Our staff have the necessary training, knowledge, and accreditation (if required):
    • to understand and can discuss the features and rates of our products;
    • to understand and can discuss the key differences of our products;
    • to assess whether the consumer is within the Target Market;
    • to assess whether the consumer meets our lending eligibility lending criteria; and
    • have access to product resources such as borrowing and repayment calculators, stamp duty and upfront cost calculator, and pricing tools etc.
  • Our staff are part of assurance programs, and we rely on existing distributors, methods, controls, and supervision already in place.
  • We have approval control systems and processes in place to check and flag applicants who may be outside the Target Market.
  • Online channels (e.g., website and the mobile app)
  • The product cannot be distributed through online channels however the application process may commence online.
  • Applications commenced through an online channel will be directed through to a staff assisted channel.
  • Third party – Mortgage Managers and Accredited mortgage brokers subject to their Best Interests Duty (BID) obligations
  • A distributor must:
    • hold an Australian Credit Licence or be a Credit Representative authorised to engage in credit activities on behalf of a credit licensee;
    • comply with the terms and conditions of any relevant distribution agreement or arrangement with the Product Manager; and
    • comply with their legal obligations.
  • Third party brokers must also:
    • hold appropriate qualifications, industry membership and authorisations to engage in credit activities; and
    • comply with their obligation to act in the best interests of their client when providing credit assistance.
  • These conditions ensure distributors are appropriately authorised to provide the relevant regulated credit services and will comply with the commercial terms agreed between the distributor and Product Manager.

Columbus has outlined below its review triggers for this product (Review Triggers). This TMD will also be reviewed if an event or circumstance has occurred that would reasonably suggest that the TMD may no longer be appropriate. Our review triggers for this product are:

Review triggers Description
Customer outcomes
  • Unexpected trends in consumer outcomes which are significantly inconsistent with the intended product performance;
  • Unexpected early-stage arrears are detected;
  • A significant number of defaults occur;
  • A significant number of late repayments are being recorded;
  • Evidence that the product or distributor conduct are significantly different to the Target Market.
  • A significant number of material complaints are received from consumers in relation to the product.
Incident Data
  • A material incident or significant number of incidents in relation to the product’s design or distribution that identify breaches of our legal or regulatory obligations.
Changes to the Product
  • The material alteration of the product or product terms and conditions (e.g., adding to, removing, or changing a key product attribute; significant change to distribution channel and distribution strategy).
Significant Dealings
  • A significant dealing of the product to consumers outside the Target Market occurs.
Notification from ASIC
  • The receipt of a product intervention power order from ASIC requiring us to immediately cease retail product distribution conduct in respect of the product.
The following data must be provided to us by any person who engages in retail product distribution conduct in relation to this product:

Type of information Number of complaints, details of the complaint, including name and contact details of complainant and substance of the complaint. Quarterly, and in any case no later than 10 business days from the end of the quarter.
Complaints Date or date range of the significant dealing(s) and description of the significant dealing (e.g., why it is not consistent with the TMD). As soon as practicable, and in any case within 10 business days after becoming aware.
Significant dealing(s) Details of any suggested feedback and improvements. As soon as practicable, and in any case within 15 business days after becoming aware.
Feedback Details of any suggested feedback and improvements. As soon as practicable, and in any case within 15 business days after becoming aware.
Information requested Any other information requested by the Product Manager. As soon as practicable, and in any case within 10 business days after receiving such request.
Version Effective Date Link
2022.1 02 June 2022 Link
2021.2 13 February 2021 Link