Credit Guide

OzLoans Finance  Pty Ltd Licensee Credit Guide 

This document provides information about the services we provide.

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.

Licensee details

Licensee name:  Ozloans Finance Pty Ltd

Services we provide:

Credit assistance, i.e. when we:-

1. suggest that a client apply for a particular credit contract with a particular credit provider; or
2. suggest that a client apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
3. suggest that a client remain in a particular credit contract with a particular credit provider; or
4. assist a client apply for a particular credit contract with a particular credit provider; or
5. assist a client to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
6. suggest that a client apply for a particular consumer lease with a particular lessor; or
7. suggest that a client remain in a particular consumer lease with a particular lessor; or
8. assist a client to apply for a particular consumer lease with a particular lessor.

Our panel lenders

We source finance from a panel of financiers. The financiers named below are the main financiers with which we conduct most of the business.

• NAB Broker
• AMP Banking
• ANZ Banking Corporation
• Westpac Banking Corporation Ltd
• IMB Commercial Lending
• St George Bank Ltd
• Bank of Queensland
• Australian First Mortgage
• Advantedge (Funding from NAB)
• Prospa

 We also provide finance from:

• SMSF lenders
• Vehicle Financiers
• Reverse Mortgage Products

assassoon 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.  Prior to suggesting Credit Assistance, Ozloans Finance will require a completed Fact find. This Fact find will include enquiries about:-

1.  your objectives
2.  your requirements including the purpose of the credit
3. your financial situation

Ozloans Finance will verify your financial information.

The purpose of the Preliminary Assessment is to ensure that, based on the information provided the proposed credit is not unsuitable for you.

You may request a copy of the preliminary assessment within 7 years of the date of the credit assistance quote.

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 plus income.  Although we may obtain a valuation, that is for our own use and you should not rely on it.

Fees payable by you

Usually no fees payable by the borrower.   We may charge fees for assisting you obtain Loans such as Vehicle Finance but usually not for Residential loans credit assistance services as we receive commission from the lenders. However, you may need to pay the financier’s application fee, valuation fees, and other fees directly, if applicable.

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 commissions are worked out

Commissions payable by us

We source referrals from a broad range of sources.  For example, we may pay fees to call centre companies, real estate agents, accountants, or lawyers for referring you to us.  These referral fees are generally small amounts and accord with usual business practice.  These are not fees payable by you.  You may, on request, obtain a reasonable estimate of those commissions and how the commissions are calculated (worked out).

Our internal dispute resolution scheme

We believe that it is essential for our customers to be able to identify and deal with a broker who has the ability, authority and proper training to hear and respond appropriately to any complaints or disputes.  We are committed to the effective handling of complaints and timely resolution of disputes.

Receiving complaints and the complaint process

If you have a complaint or a dispute:

• Step 1 – Contact Ozloans Finance on 0418 605 484 or loan@ozloansfinance.com.au to discuss the nature of your complaint;
• Step 2 – If the matter is not resolved to your satisfaction within 14 days, please write to:- Dispute Resolution Manager, Ozloans Finance Pty Ltd. 55 Springbrook Boulevarde, North Kellyville. NSW 2155. Your complaint, lodged in writing, will be answered within 28 days.
• Step 3 – If you are still not happy after receiving the response to your letter, you can refer your complaint to the Australian Financial Complaints Authority, an external dispute resolution service of which Ozloans Finance Pty Ltd is a member- membership No <44062>.

CIO can be contacted by phone on 1800 138 422 or by fax on (02) 9273 8440. Their email address is:

https://www.afca.org.au/make-a-complaint/

Website:            https://www.afca.org.au/

Mail:                   Case Management Team

Australian Financial Complaints Authority

PO Box A252

Sydney South NSW 1235

External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints.

More information

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.