Credit Guide

This Credit Guide sets out the key information you need to know about the finance and mortgage broking services we provide. Please take the time to read it. If anything is unclear, or you would like more detail, get in touch and we will happily talk it through.

About us and our licensee

Credit assistance is provided by Stephanie Newman (Australian Credit Representative 388799) and Coastal Home Lending Pty Ltd (ACN 066 385 822, Corporate Credit Representative 578712), as Credit Representatives of Australian Finance Group Ltd (AFG), Australian Credit Licence 389087 (the Licensee). As Licensee, AFG shares responsibility for the credit assistance we provide to you. We are also a member of the Mortgage & Finance Association of Australia (MFAA).

How we help

As a mortgage broker we offer choice, experience, and an obligation to act in your best interests when providing credit assistance:

• Choice — we research home loan options across a panel of lenders to find a loan that suits your goals and circumstances.

• Convenience — we do the legwork on your behalf, saving you time and effort.

• Support — we prepare and help progress your application, and work with the lender to help secure your loan.

Please note that neither we nor AFG provide tax, legal or accounting advice. Any information in this guide is general in nature and does not take into account your objectives, financial situation or needs. Before making a decision, please consider whether it is appropriate for you and consult your own tax, legal and accounting advisers.

Our lenders and products

We can arrange loans through the lender panel of our aggregator, Australian Finance Group Ltd (AFG). To submit an application to a lender, a broker must be accredited with that lender — typically brokers are accredited with 10 to 15 lenders. If we are not accredited with a lender you would like to use, we can refer you to another AFG broker who is.

Fees, charges and commissions

Fees payable by you

When your application is submitted you may need to pay fees to third parties — for example the lender’s application fee or valuation fees — even if the application is ultimately unsuccessful. If any fee is payable by you to us or the Licensee, it will be disclosed to you in a Credit Quote before you proceed. If we do not provide a Credit Quote, that means we do not charge you a fee for our services.

Payments we receive

We, and our Licensee or aggregator (AFG), may receive commissions from lenders in connection with the finance we arrange for you. These commissions are not payable by you. The amount depends on the size of the loan and may vary from product to product; it is generally calculated as a percentage of the loan balance drawn down (in most cases net of any offset amounts). You can ask us for a reasonable estimate of these commissions and how they are worked out.

Referral fees

We may pay a fee or commission to a person who refers you to us (such as an accountant, financial planner or real estate agent). This is not a fee payable by you. Details of any referral payment relevant to your loan will be set out in the Credit Proposal Disclosure we provide. On request you can obtain a reasonable estimate of the amount and how it is worked out.

Other benefits, interests and conflicts

From time to time we may have access to tiered servicing arrangements with lenders (for example faster processing or better information). Access is not based solely on loan volume and does not entitle us to additional commissions or give you preferential discounts. We may also be provided with free services such as credit reports or valuations from lenders. We are prohibited from accepting gifts or inducements over $300, and any benefit to your broker over $100 is recorded in a Gifts Register, a copy of which is available to inspect on request.

Where we hold any interest, act in more than one capacity, or have a relationship that could create a conflict, details relevant to your loan will be disclosed in the Credit Proposal Disclosure document. Where a conflict cannot be managed appropriately, we will refer you to another party who can assist.

How we are paid

We may receive all or part of the commission received by the Licensee, paid to us directly or indirectly. Commissions are based on a percentage of the loan balance drawn down, in most cases net of any offset amounts. By meeting our responsible-lending obligations, we ensure the loan we recommend is not unsuitable for your situation and objectives. You can ask us for a reasonable estimate of the commission and how it is worked out.

If you have a concern

We want you to be happy with our service. If something is not right, please see our Complaints page for the steps to raise a concern with us, our Licensee, and the Australian Financial Complaints Authority (AFCA).

Your privacy

We handle your personal and credit information in line with our Privacy Policy and Credit Reporting Policy. AFG’s privacy policy is available at afgonline.com.au.

Things you should know

We do not make any promises about the value of any property you finance, or its future prospects. You should always rely on your own enquiries.