credit guide
We are licensed to arrange loans and leases under the National Consumer Credit Protection Act 2009 (NCCP Act). The NCCP Act regulates the activity of lending, leasing and finance broking.
Our Details
Entity:
Finance Select (NSW) Pty Limited ABN 97 369 537 316 Australian Credit Licence Nbr 394410 Address: Shop 5, 3-9 Warby Street (PO Box 339) Campbelltown NSW 2560 Contact: Phone: (02) 4628 4470 Fax: (02) 4627 1677 Email: [email protected] |
_Internal Complaints Officer:
Complaints Officer: Chief Executive Officer Deputy Officer: Compliance Officer Phone: (02) 4628 4470 Fax: (02) 4627 1677 Email: [email protected] External Disputes Resolution Scheme: Australian Financial Complaints Authority Ltd (AFCA) Phone: 1800 931 678 Email: [email protected] Website: www.afca.org.au Member nbr 44717 |
Services we provide
Advice Option
We will help you choose a loan suitable for your purposes.
Choice Option
We will provide you with information on a range of lenders and loans. Once you have chosen a loan that is suitable for you, we will help you obtain an approval.
Execution Only Option
You have already chosen a lender and a loan, and we will assist you obtain an approval.
Our Lenders:
We source loans from a panel of financiers. Our current panel comprises the financiers listed below. These do not necessarily represent all that offer credit of the nature you seek, but we use lenders that are competitive in the market.
Adelaide Bank, Advantedge, AMP Bank, ANZ Bank, Auswide Bank, Bank Qld, Bankwest, Better Choice Home Loans, Better Mortgage Management, Bluebay Home Loans, Citibank, Commonwealth Bank, Connective Home Loans, eMoney, Firefighters Mutual, Firstmac, Gateway Bank, Heritage Bank, ING Bank, La Trobe Financal, Macquarie Bank, ME Bank, MyState, NAB, Newcastle Permanent, Pepper Money, Qudos Bank, Resimac Ltd, St George Bank, Suncorp, Teachers Mutual Bank, Unibank, Westpac
At the time of your application we will advise you of the 6 most used lenders over the preceeding 12 months.
We will help you choose a loan suitable for your purposes.
Choice Option
We will provide you with information on a range of lenders and loans. Once you have chosen a loan that is suitable for you, we will help you obtain an approval.
Execution Only Option
You have already chosen a lender and a loan, and we will assist you obtain an approval.
Our Lenders:
We source loans from a panel of financiers. Our current panel comprises the financiers listed below. These do not necessarily represent all that offer credit of the nature you seek, but we use lenders that are competitive in the market.
Adelaide Bank, Advantedge, AMP Bank, ANZ Bank, Auswide Bank, Bank Qld, Bankwest, Better Choice Home Loans, Better Mortgage Management, Bluebay Home Loans, Citibank, Commonwealth Bank, Connective Home Loans, eMoney, Firefighters Mutual, Firstmac, Gateway Bank, Heritage Bank, ING Bank, La Trobe Financal, Macquarie Bank, ME Bank, MyState, NAB, Newcastle Permanent, Pepper Money, Qudos Bank, Resimac Ltd, St George Bank, Suncorp, Teachers Mutual Bank, Unibank, Westpac
At the time of your application we will advise you of the 6 most used lenders over the preceeding 12 months.
Other information
We will need information from you
Under the NCCP Act, we are obliged to ensure that any loan or principal increase to a loan we help you to obtain or any lease we help you to enter is not unsuitable for you. To decide this, we may need to ask you some questions in order to assess whether the loan or lease is not unsuitable.
The law requires us to:
Credit will be unsuitable if at the time of the assessment, it is likely that at the time the credit is provided:
For example, if you can only repay by selling your principal place of residence, the loan will presumed to cause substantial hardship unless proven to the contrary. For this reason, we must ask you to provide a significant amount of information. It is very important that the information you provide us is complete and accurate. If we proceed on incomplete or incorrect information, you may be in breach of your legal obligations to the lender.
We must provide you with a copy of our preliminary credit assessment of your application if you ask within 7 years of when we assist you. We are only required to give you a copy of the credit assessment if we give you credit assistance. If we arrange a loan for you to purchase or refinance real estate, remember you must make your own enquiries about the value of the real estate and its potential for future growth. Although we may obtain a valuation, that is for our own use and you should not rely on it.
Fees payable by you
Option 1:
We do not charge you for our services because we are paid commission by the financier. However, you may need to pay the financier’s application fee, valuation fees, and other fees.
Option 2:
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.
Commissions received by us
We may receive commissions from the lenders and lessors who provide finance for you as our customers. These are not fees payable by you. You may obtain from us information about a reasonable estimate of those commissions and how the commission is worked out. We have a volume bonus arrangement in place with lenders; NIL - under which those financiers may pay us additional commission depending on the total volume of business we arrange with them.
Commissions payable by us
We may source referrals from a broad range of sources, for example from call centres, lead distribution and professional business contacts. Where a referral fee is paid, these are generally small amounts and in accord with usual business practice. These are not fees payable by you. On request, you may obtain a reasonable estimate of those commissions and how it is calculated.
Our Internal Dispute Resolution (IDR) scheme
If you have any complaints you should notify us by contacting our Complaints Officer as shown in page 1 of this credit guide, or by speaking to any representative of our business who will refer you to the Complaints Officer. You should explain the details of your complaint as clearly as you can, either verbally or in writing. When we receive a complaint, we will attempt to resolve it promptly. In this way, we hope to stop any unnecessary and inappropriate escalation of minor complaints.
Our External Dispute Resolution (EDR) scheme
If we do not reach agreement on your complaint, you may refer the complaint to an ASIC approved EDR. Our provider is specified above. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. You can obtain further details about our EDR procedures and obtain details of our privacy policy on request.
Things you should know
Questions?
If you have any questions about this credit guide or anything else about our services, just ask at any time. We’re here to help you.
Under the NCCP Act, we are obliged to ensure that any loan or principal increase to a loan we help you to obtain or any lease we help you to enter is not unsuitable for you. To decide this, we may need to ask you some questions in order to assess whether the loan or lease is not unsuitable.
The law requires us to:
- make reasonable inquiries about your requirements and objectives;
- make reasonable inquiries about your financial situation;
- take reasonable steps to verify that financial situation.
Credit will be unsuitable if at the time of the assessment, it is likely that at the time the credit is provided:
- you could not pay or could only pay with substantial hardship;
- the credit will not meet your requirements and objectives.
For example, if you can only repay by selling your principal place of residence, the loan will presumed to cause substantial hardship unless proven to the contrary. For this reason, we must ask you to provide a significant amount of information. It is very important that the information you provide us is complete and accurate. If we proceed on incomplete or incorrect information, you may be in breach of your legal obligations to the lender.
We must provide you with a copy of our preliminary credit assessment of your application if you ask within 7 years of when we assist you. We are only required to give you a copy of the credit assessment if we give you credit assistance. If we arrange a loan for you to purchase or refinance real estate, remember you must make your own enquiries about the value of the real estate and its potential for future growth. Although we may obtain a valuation, that is for our own use and you should not rely on it.
Fees payable by you
Option 1:
We do not charge you for our services because we are paid commission by the financier. However, you may need to pay the financier’s application fee, valuation fees, and other fees.
Option 2:
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.
Commissions received by us
We may receive commissions from the lenders and lessors who provide finance for you as our customers. These are not fees payable by you. You may obtain from us information about a reasonable estimate of those commissions and how the commission is worked out. We have a volume bonus arrangement in place with lenders; NIL - under which those financiers may pay us additional commission depending on the total volume of business we arrange with them.
Commissions payable by us
We may source referrals from a broad range of sources, for example from call centres, lead distribution and professional business contacts. Where a referral fee is paid, these are generally small amounts and in accord with usual business practice. These are not fees payable by you. On request, you may obtain a reasonable estimate of those commissions and how it is calculated.
Our Internal Dispute Resolution (IDR) scheme
If you have any complaints you should notify us by contacting our Complaints Officer as shown in page 1 of this credit guide, or by speaking to any representative of our business who will refer you to the Complaints Officer. You should explain the details of your complaint as clearly as you can, either verbally or in writing. When we receive a complaint, we will attempt to resolve it promptly. In this way, we hope to stop any unnecessary and inappropriate escalation of minor complaints.
Our External Dispute Resolution (EDR) scheme
If we do not reach agreement on your complaint, you may refer the complaint to an ASIC approved EDR. Our provider is specified above. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. You can obtain further details about our EDR procedures and obtain details of our privacy policy on request.
Things you should know
- We don’t make any promises about the value of any property you finance with us or its future prospects. You should always rely on your own enquiries.
- We don’t provide legal or financial advice unless specified in a separate contract. It is important you understand your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.
- Before you accept your loan offer, make sure you read the credit contract/loan agreement carefully to understand full details of the loan
- We represent lenders and have obligations to them, in particular not to provide any information we know is misleading or deceptive. We also have obligations under the law to report any fraud, forgery or other illegal activities. Before using our services, it is important that you understand we have these obligations.
Questions?
If you have any questions about this credit guide or anything else about our services, just ask at any time. We’re here to help you.