3/300 FLINDERS ST
ADELAIDE
SOUTH AUSTRALIA 5000

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Mon - Fri 9.00 - 17.00
Saturday CLOSED
Sunday CLOSED
Public Holidays CLOSED

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+61 8 8263 7799

Legal

Credit Guide

CREDIT GUIDE – CREDIT CONTRACT (Top 6 credit providers)

Richard Arthur

Finance D.R. Pty Ltd (ABN 62 120 020 055) as

trustee for the Arthur Holden Unit Trust

trading as Connected Home Loans (ABN 43 761 097 839) 1198 Grand Junction Road

HOPE VALLEY SA 5090

E: [email protected]

P: (08)8263 7799

Australian Credit Licence: 383875

This Credit Guide sets out important information about the services that we provide as a broker.

 

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:

 

suggest or assist you to apply for a particular credit contract with a particular credit provider; or

suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or

suggest you remain in a particular credit contract with a particular credit provider.

Fees and charges that are payable by you in relation to our credit assistance

 

Our Top 6 credit providers

 

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:

 

NAB / Homeside

ANZ

Commonwealth Bank

Bank SA

Bank West

Westpac

Commissions we receive

 

When we provide you with credit assistance, we (or our directors, employees and authorised credit representatives) receive commissions from the credit providers involved. We may receive the following commissions when we provide credit assistance to you:

 

4/12/14 1 NCCP – Credit Guide – Credit Contract – Top 6 Credit Providers

 

Type of commissions:

 

Upfront and trailing

 

Reasonable estimate of the amounts or range of amounts:

 

Upfront ranging from .5 to .7% and trail 00.0 to .035%

 

Method of calculation

 

Upfront percentage of loan amount and trail percentage of outstanding loan balance

 

 

 

Preliminary Assessment

 

Before we provide you with credit assistance, we are required to complete a “Preliminary Assessment”. This preliminary assessment makes enquiries about:

 

your requirements and objectives for seeking a credit product;

your financial and relevant personal situation; and

your repayment capacity.You are entitled to request a copy of our Preliminary Assessment, and we must give you a copy if you so request. If you request a copy of the Preliminary Assessment:

At any time during the first 2 years we must provide it within 7 business days; or

between 2 years and 7 years after it was conducted we must provide it within 21business days.

There is no charge for requesting or receiving a copy of the Preliminary Assessment.

Unsuitable Credit Contracts

By law, we must not:

 

suggest or assist you to apply for a particular credit contract with a particular credit provider; or

suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider, or

suggest that you remain in your particular credit contract with your particular credit provider;

if that contract is “unsuitable”.

 

A credit contract will be “unsuitable” if:

 

  1. it is likely that you will be unable to comply with the financial obligations under the credit contract; or

 

4/12/14

 

2 NCCP – Credit Guide – Credit Contract – Top 6 Credit Providers

 

it is likely that you could only comply with the financial obligations with substantial hardship (such as having to sell your principal place of residence); or

it is likely that the credit contract will not meet your stated requirements or objectives.

We want to ensure that the credit products you select with us are not unsuitable for your needs. Because of this, it is important that you openly and honestly discuss with us your requirements, objectives, preferences, financial situation and repayment capacity.

 

 

 

Dispute resolution and complaints

 

Within our business, we follow specific procedures to try to resolve any complaints that you may have.

 

Internal Dispute Resolution Scheme

 

A complaint or concern can be directly raised with our company in accordance with our internal dispute resolution procedures. A copy of our internal dispute resolution policy, including our commitments for response times, is available at www.connectedhomeloans.com.au or by request to us.

 

You can submit a complaint or concern directly to us as follows:

 

Richard Arthur – Director

08 8263 7799 or [email protected]

 

External Dispute Resolution Scheme

 

We wish to advise you that Finance D.R. Pty Ltd trading as Connected Home Loans is a member of the Credit Ombudsman Service Limited, member number 412 701, and their contact details are as follows:

 

Credit Ombudsman Service

 

ABN 59 104 961 882

Level 7, 287 Elizabeth St Sydney NSW 2000 PO Box A252 Sydney South NSW 1235 P1300780808/F0292612798

E [email protected]

W www.creditombudsman.com.au

Get In Touch

3/300 Flinders St,

Adelaide

South Australia 5000