About Us ("we, us, our")
Name of Credit Representative: Josh Wessels
Credit Representative Number: 478409
Australian Credit License Number (ACL): 364403
Licensee Australian Credit License Number (ACL): 364403
This document provides you with information relating to our activities and those of our credit representatives. It contains information about various fees and charges that may be payable by you to us, as well as about certain commissions we may receive from a licensee when we are acting as a credit representative, or we pay to certain third parties. It also contains information about what you should do if you have a complaint or dispute in connection with our services as a credit representative or licensee.
What is a credit representative?
A ‘credit representative’ is a person who has been authorized by a credit license to engage in specified credit activities on behalf of the licensee. Our licensee is Diversifi Pty Ltd.
What is credit assistance?
We give you credit assistance when:
→ We assist you to apply for a particular loan or lease;
→ We suggest you apply for a particular loan or lease (or suggest you apply for an increase to an existing loan); or;
→ We suggest you remain in your current loan or lease.
The assessment we need to do before giving you credit assistance
Before we provide credit assistance to you, we assess whether the particular loan or lease is suitable for you. To do this, we need to make reasonable inquiries and verify that:
→ The loan or lease or increase will meet your requirements and objectives; and
→ You can meet the proposed repayments.
We won’t be able to give you credit assistance if our assessment shows that:
→ You won’t be able to meet the proposed repayments without substantial hardship; or
→ The loan or lease won’t meet your requirements or objectives.
Getting a copy of our assessment
If we provide you with credit assistance, you can ask us for a copy of our assessment any time up to 7 years after we provide you with a credit assistance quote. To request a copy please contact us. We will provide you with a copy:
→ Within 7 business days after the day we receive your request – provided you make the request within;
→ 2 years of the date of our credit assistance quote; or;
→ Otherwise, within 21 business days after the day we receive your request.
Information about the licensee & it's credit representatives & top 9 lenders
We act as a credit representative or licencee for Diversifi Pty Ltd. We are authorised to engage in credit activities including providing credit assistance on its behalf. Subject to meeting credit criteria, we are able to assist you to obtain loans and leases for you from a broad range of lenders and lessors through our broker group.
The following are the lenders or lessors with whom I generally conduct the most business:
MoneyPlace, Plenti, Jacaranda Finance, Wisr, Latitude Finance, Now Finance, Society One, MoneyMe & Our Money Market
Fees & charges
FEES PAYABLE FOR THE PROVISION OF CREDIT ASSISTANCE
We charge a fee for providing credit assistance. More detail about those fees will be set out in a quote we will give to you before we provide you with credit assistance.
OTHER FEES AND CHARGES
You may have to pay other fees and charges (such as application fees, valuation fees and other fees) to the lender, lessor or other parties. You should review the disclosure documents and your loan contract or lease for further details of any such fees and charges.
COMMISSIONS WE RECEIVE FROM OUR LICENSEE
Our licensee has appointed our broker group as its agent to receive commissions from lenders and lessors and to pay us commission in relation to loan contracts or leases for which we act as a credit representative/license and provide credit assistance. The total amount of commission we may receive in relation to your loan or lease may vary depending on the lender or lessor, the term, the features, the amount of the loan or lease you ultimately choose and the amount and timing of the repayments that you make.
LOAN CONTRACTS SUCH AS HOME LOANS, INVESTMENT PROPERTY LOANS & PERSONAL LOANS
Upfront commission payable by lenders in relation to loans is calculated as a percentage of the loan amount and is generally anywhere up to 1.75% of the loan amount. It is usually paid after settlement of the loan. Trail commission payable by lenders in relation to loans is generally calculated regularly (monthly, quarterly, bi-monthly or annually) on the outstanding loan balance and is paid in arrears. The trail commission payable by lenders is generally anywhere up to 0.385% per annum.
Upfront commission payable by lessors in relation to leases is calculated as a percentage of the lease amount and is generally anywhere up to 4.00% of the lease amount. It is usually paid after settlement of the lease. Trail commission is generally not payable in relation to leases.
Further details of the commission earned by us will be included in the credit proposal disclosure document we will provide to you at the same time as we provide you with credit assistance. You can request information from us about the fees that we are likely to receive, how those fees are calculated, and our reasonable estimate of the fees or commissions that will be payable.
Third party referral
If we introduce you or refer you to a third party i.e. Conveyancer/Settlement Agent, Financial Planner, General Insurance etc. we may be eligible for a commission or a fee.
Commissions payable by us
If a third party has introduced you to us or referred you to us, we may pay them a commission or a fee.
We obtain referrals from a range of sources, including real estate agents, accountants, financial planners or other people. Further information about referral commissions, including our reasonable estimate of the amount of any commission payable and how it is calculated is available from us on request and will be included in the credit proposal disclosure we will supply to you when we provide you with our credit assistance.
Disputes or complaints
WHAT TO DO IF YOU HAVE A DISPUTE OR COMPLAINT?
We are committed to providing our customers with the best possible service. If at any time we have not met our obligations – or you have a complaint about any of our services – please inform us so we can work towards a resolution. We will endeavor to deal with your complaint promptly, thoroughly and fairly.
How to make a complaint & the complaints process
If we have a complaint, we request you follow these steps:
1. First point of contact for a complaint:
Tracey-Lea Gilbert Director Tel: (08) 9227 8577 or 0412 103 627.
Rose M De Rossi Director Tel: (08) 9227 8577 or 0411 181 938 1. The Complaints Officers are senior personnel in our organization and have the necessary experience and authority to handle your complaint and make relevant decisions on outcomes.
2. The complaint need not be in writing and may be presented to us by any reasonable means, for example letter, telephone, email or in person.
3. You can also contact us on/at:
Post: Unit 1, 342 Fitzgerald Street, North Perth WA 6006
Phone: (08) 9227 8577 Mobile: 0404 198 137
Fax: (08) 9227 9474 Email: firstname.lastname@example.org
Third party products or services
If your complaint relates to a product or service acquired through a third party (for example, a lender) we may ask you to contact the relevant third party. They will deal with your complaint under their complaints resolution process.
If you are not satisfied with the resolution of your complaint by the third party under their complaints resolution process, you are entitled to have your dispute considered by their External Dispute Resolution Scheme. Please contact the third party for further details.
Keeping you informed
We will keep you informed of the progress and outcome of any complaints by way of electronic or postal advice.
Still not satisfied?
If you do not think we have resolved your complaint to your satisfaction, you may take the matter – free of charge – to the relevant External Disputes Resolution Scheme (provided it is within the scheme’s terms of reference) as detailed below. You may also refer the matter to the relevant External Disputes Resolution Scheme at any time, but if our internal process is still in progress, they may request that our internal processes be complete before considering the matter further.
Our external dispute resolution service provider is the Australian Financial Complaints Authority (AFCA), which can be contacted at:
Australian Financial Complaints Authority (AFCA)
Telephone: 1800 931 678
In Writing: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3000