1. About Us
2. Preliminary Assessment — What we will need from you
3. Obtaining a copy of your Preliminary Assessment
4. How do our Representatives get paid?
5. Fees and Charges that are Payable by you in Relation to our Credit Assistance
6. Our Major Credit Providers
7. Referrers and Referral Fees
8. Dispute Resolution and Complaints
9. Internal Dispute Resolution
10. External Dispute Resolution
12. Your Consent
We are required to provide this Credit Guide to you as soon as practicable after it becomes apparent that we are likely to provide credit assistance to you. We provide “credit assistance” when we:
1. Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
2. Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
3. Suggest you remain in a particular credit contract with a particular credit provider.
When we provide you with credit assistance, we must only recommend credit products that are not unsuitable for you.
To be able to determine which loan products are not unsuitable, we are required to complete a Preliminary Assessment. When we make this preliminary assessment, we determine:
In assessing these factors, we are also required to take reasonable steps to verify some of the information you provide us.
This verification may include:
If we haven’t already provided it to you, you may request a copy of our Preliminary Assessment, and we must give you a copy of it:
There is no charge for requesting or receiving a copy of the Preliminary Assessment.
We are paid commissions by lenders for introducing customers. The lenders we deal with will usually pay us a commission based on:
We will only be paid this commission if your loan is settled and drawn down.
The commissions that we are paid by your lender by capitalised into the loan amount borrowed or you can pay for the fees up front.
If you would like a detailed estimate of how much commission we would be paid by a particular lender for a particular product, we will provide this for you. We will also provide you with a detailed explanation of how this commission is calculated.
Certain lenders may also pay us a bonus based on the amount of business that we introduce to them. The lenders that currently have such arrangements with our Aggregator are:
We sometimes charge a fee for our services. More details about the fees payable by you will be set out in a quote, which we will give you before a finance application is lodged. You may obtain from us information about how these fees and charges are worked out and a reasonable estimate of those fees.
We source credit products from a range of banks, lenders and other credit providers. However, at present, we write the most loans with the following banks, lenders and other credit providers:
In some cases, non-regulated third parties, such as real estate agents, accountants, financial planners etc., may have referred your business to us. Where this is the case, we may pay a referral fee to these parties. If we do pay a fee to these parties, then:
Alternatively, if you want to know, you can ask us about the fees and we will tell you how much was paid and how it was worked out.
Whilst we always strive to provide the best possible service, we understand that there may be times where you are not satisfied. If this occurs, and you wish us to do something about it, we have a formal process in place to address your concerns.
If you do have a complaint, please contact the Complaints Office using the details at the start of this document. If you choose to contact us by email, please make sure you include as much information as you can.
You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing. When we receive a complaint, we will attempt to resolve it promptly.
If you are not satisfied with how we have handled your complaint, you may make a formal complaint to our External Dispute Resolution Scheme Provider. The details of our EDR Scheme membership are set out at the start of this Credit Guide.
We are committed to protecting your privacy. We use the information you provide to assist you with your credit needs, including the preparation and submission of loan applications.
We also use it to send you product information and promotional material. From time to time this will include direct marketing communications but we will always give you the option of not receiving these communications. We may also provide your information to contractors who supply services to us (e.g. to handle mailings on our behalf), and to others if we are required to do so by law. We do not trade, rent or sell your information or disclose it to overseas recipients.
By asking us to assist with your credit needs, you consent to the collection and use of the information you have provided to us for the purposes described above.
For more information on your privacy rights please visit www.privacy.gov.au