This Credit Guide outlines our obligations to you and acknowledges your right to ask us about our services. The services that we provide are to assist you to choose a loan which is suitable for your purposes. The information that we will provide includes; who we deal with, our responsible lending obligations, the costs you may incur in completing a transaction, information on the commissions that may be paid to us and the commissions that we may pay to third parties.
This document also provides direction if you are dissatisfied and have a complaint about the services we have provided.
Our Responsible Lending Obligations:
It is our duty to have a reasonable knowledge of your current financial situation, financial objectives and borrowing needs before we can provide credit assistance that meets your requirements.
As a credit licensee we and our representatives are required to:
- make reasonable inquiries about your requirements and objectives;
- make reasonable inquiries about your financial situation;
- take reasonable steps to verify your financial situation;
- make a preliminary assessment about whether the requested credit facility is ‘not unsuitable’ for you based on the inquiries and information obtained in the first three steps above.
When we have provided credit assistance you can request a written copy of the preliminary assessment which will be provided free of charge. This request can be made at any time up to 7 years after we have provided credit assistance. When the request is made within 2 years of the date we provided credit assistance we will give you the preliminary assessment within 7 business days of the date of the request. Otherwise we will give you the preliminary assessment within 21 business days of the date of the request.
When we cannot provide credit assistance:
We are prohibited by law from providing credit assistance that does not meet your requirements or objectives and/or where you could only comply with your financial obligations under the requested credit facility with substantial hardship or where other circumstances would make the requested credit facility unsuitable for you.
Our Panel Lenders:
We source finance from a panel of lenders. The lenders named below are the six with whom we conduct the most business.
Australia and New Zealand Banking Group Ltd, Pepper Asset Finance Pty Ltd, St. George Bank, Secure Funding Pty Ltd (Liberty Financial), GE Personal Finance Pty Ltd, Yamaha Motor Finance Australian Pty Ltd.
Commission that will or may be paid to us:
Commission may be paid by the Credit Provider, to us or any Aggregator we use, after settlement of the proposed credit facility. Such commissions may be subject to a range of variables including the $ amount of your credit facility, the term of your credit facility, the interest rate at which the Credit Provider is prepared to provide the credit facility and the total amount of business (generally referred to as a Volume Bonus Commission) that we place with the Credit Provider in a given period or promotional period.
Commission payable to us is paid by the Credit Provider and does not influence your repayment to the Credit Provider at the interest rate quoted over the approved term. Please contact us if you have any questions about the credit contract or the fees, charges and commissions that may be payable if you enter into the credit contract. You may, on request, obtain a reasonable estimate of those commissions and how the commission is worked out.
Commission we will or may pay to a third party:
Where you have been referred to us by a third party we may pay that third party a commission as either a fixed amount or a percentage of the total commission we receive. Such commission, when payable may be contingent on the performance of other parties and consequently unascertainable at this time. This commission is not payable by you. You may, on request, obtain a reasonable estimate of this commission and how the commission is worked out.
Volume Bonus Commissions:
We have a volume bonus arrangement in place with Australia and New Zealand Banking Group Ltd, St. George Bank, Pepper Asset Finance Pty Ltd, Macquarie Leasing Pty Ltd, Secure Funding Pty Ltd (Liberty Financial), GE Personal Finance Pty Ltd, Yamaha Motor Finance Australian Pty Ltd and Wingate Consumer Finance Pty Ltd under which those lenders may pay us additional commission depending on the total volume of business we arrange with them.
Fees that you may have to pay to the Credit Provider may include:
You may need to pay the Credit Provider fees which may include; establishment/application fees, credit search fees, direct debit fees, manual payment fees, security registration fees and Government Stamp Duty.
Any fees that you must pay will be included in your total amount of credit. The application of these fees and the amount will depend on the Credit Provider. The amount of any of the above fees will be disclosed in detail in the Loan contract schedule, which will be provided to you before you enter into a credit facility.
Our goal is 100% customer satisfaction so if we fall short of this, we want to know. We understand that sometimes things can go wrong and you may feel the need to make a complaint. To help you do this we have developed an Internal Dispute Resolution process and are members of an External Dispute Resolution service. The External Dispute Resolution is a service that you can access if we do not reach agreement on your complaint. These services are free of charge.
Making a complaint – Internal Dispute Resolution:
You can lodge a complaint verbally or in writing;
In person – with any staff member or authorised credit representative
By telephone – 1300 304 204
Email – firstname.lastname@example.org
Post – P.O Box 3885 Loganholme Qld 4129
Fax – (07) 3801 3533
How will your complaint be handled?
The person who receives your complaint;
- Will document your concerns
- Record your complaint in the Complaints Registers
- Escalate your complaint to our Internal Disputes Officer
The Internal Disputes Officer will;
- Contact you about your complaint
- Give you an estimate of when you can expect a decision
- Investigate your complaint
- Advise you of the decision and the reasons for the decision on your complaint
Making a Compliant – External Dispute Resolution:
If we do not reach agreement on your complaint, you may refer the complaint to our free External Dispute Resolution service for an independent review. Our external dispute resolution provider is specified below.
Financial Ombudsman Service
Postal Address: GPO Box 3 Melbourne Vic 3001, Phone: 1800 780 808 Email: email@example.com