Fast Repay Home Loan Pty Ltd
ABN 33 127 511 291

Corporate Office
1/2 Garden Road
CLAYTON VIC 3168
Fast Repay Home Loan Pty Ltd is a Credit Representative (476265) of Solidaire Lending Pty Ltd (ACL 473315)
Version 5.0 1 August 2016
© Fast Repay Home Loan

ABOUT THIS CREDIT GUIDE

The credit guide provides you with information relating to our activities and those of our credit representatives. It contains details about:
  • Fees, charges and commissions payable to us for our services in assisting you with obtaining a mortgage loan or other credit products.
  • Our duties and obligations in responsible lending to provide credit that is not unsuitable to you accordance to the National Consumer Credit Protection Act 2009 (NCCP).
  • The process in making a complaint or compliment about us.

ABOUT THIS CREDIT GUIDE

We are passionate about finding you the best home loan suited to your goals. We have the necessary mortgage broking experience and qualifications to offer you the best service and most appropriate product. Our mission is to ensure our clients are provided with a loan that meets their objectives.

OUR SERVICE OBLIGATIONS

Under the NCCP, 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. 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, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason, we must ask you to provide a significant amount of information. It is therefore very important that the information you provide us is accurate.

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.

WHAT IS A CREDIT REPRESENTATIVE?

A ‘credit representative’ is a person who has been authorized by a credit licensee to engage in specified credit activities on behalf of the licensee.

INFORMATION ABOUT THE LICENSEE AND CREDIT REPRESENTATIVES

We also act as a credit representative for the licensee. 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. The following are the lenders, licensees or lessors we conduct the most business through:
  • First Mac Services Pty Ltd
  • Mortgage Mart of Australia Pty Ltd
  • Australian Financial Mortgage Group Pty Ltd
  • Macquarie Leasing Pty Ltd
  • Deposit Bond Australia Pty Ltd
  • Beagle Finance Pty Ltd
  • Vow Financial

FEES PAYABLE BY YOU

We may 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.

You may also have to pay other fees and charges (such as an 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 RECEIVABLE BY US

We may receive commissions from the lenders and lessors who provide finance for you as our clients. These are not fees payable by you.

Our licensee has appointed us 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 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.

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.

VOLUME BONUS ARRANGMENTS

From time to time we or our broker group may receive a volume bonus benefit from lenders or lessors. Volume bonuses may be directly by way of cash bonus or additional commission payment, or indirectly by way of training, professional development days or sponsorship, if we write a particular volume of business with a specific lender.

Further details of any applicable volume bonus benefit we are likely to receive 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.

DISPUTE RESOLUTION

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.

1. We aim to resolve all complaints quickly. Many complaints arise from miscommunication. Please contact your finance consultant and tell them about your concerns.

2. If the issue has not been resolved with your finance consultant within five business days we will refer to our internal dispute resolution procedure to manage your complaint appropriately.

Client Relationship Manager
Fast Repay Home Loan

1/2 Garden Road
CLAYTON VIC 3168
Phone: 1300 707 955
Fax: 1300 707 988
Email:info@fastrepayhomeloan.com.au

If our Client Relationship Manager is able to resolve the dispute he/she will promptly notify you in writing of the outcome and provide reasons for the outcome. We have a maximum of 45 days to provide a written response to you. In best practice, we aim to resolve these issues before the maximum timeframe.

EXTERNAL DISPUTE RESOLUTION

If you are still not satisfied with the outcome of your complaint, you can contact our independent external dispute resolution scheme as follows: Credit & Investments Ombudsman Limited
Member Number: M0027764
Mail: PO BOX A252
Sydney South NSW 1235
Telephone: 1800 138 422 (9am to 5pm AEST)
Fax: 02 9273 8440
Website: www.cio.org.au

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 contract 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.

THINGS YOU SHOULD KNOW

If your complaint relates to a product or service acquired through a third party (for example, a lender) we may ask you to contract 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.

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.

FURTHER INFORMATION

For more information regarding Fast Repay Home Loan or any of the products and services outlined in this guide, please contact us at the contact details below:

Fast Repay Home Loan
Office 1/2 Garden Road
CLAYTON VIC 3168
Postal PO Box 5560
BRANDON PARK VIC 3150
Phone: 1300 707 955
Fax: 1300 707 988
Email: info@fastrepayhomeloan.com.au
Website: www.fastrepayhomeloan.com.au