ABOUT US (“we, us, our”):
Credit Representative Number 493646
An employee or representative of:
Contact Details for Credit Representative and
Corporate Credit Representative
|Address: 49 Aspect Way, Karalee, Qld, 4306
Tel: 0427 485 400 Email address: firstname.lastname@example.org
|Buyers Choice Licencing Pty Ltd ACN 626172281
Australian Credit Licence Number: 509484
Address 1 / 1 International Court, Scoresby, Victoria , 3179
Tel: 1800 888 876
Fax: 03 97636355
|Professional Lenders Association Network of Australia Pty Ltd
ACN 086 490 833 as trustee for the Plan Australia Unit Trust
Credit Representative Number: 392535
This document provides you with information relating to our activities and those of our credit representatives. It contains information about various fees and charges that may be payable by you to us, as well as about certain commissions we may receive from a licensee when we are acting as a credit representative, or we pay to certain third parties. It also contains information about what you should do if you have a complaint or dispute in connection with our services as a credit representative.
What is a Credit Representative?
A ‘credit representative’ is a person who has been authorised by a credit licensee to engage in specified credit activities on behalf of the licensee. The particulars of our licensee are noted in the table above.
What is Credit Assistance?
We give you credit assistance when:
- we assist you to apply for a particular loan or lease;
- we suggest you apply for a particular loan or lease (or suggest you apply for an increase to an existing loan); or
- we suggest you remain in your current loan or lease.
The assessment we need to do before giving you credit assistance
Before we provide credit assistance to you, we assess whether the particular loan or lease is suitable for you. To do this, we need to make
reasonable inquiries and verify that:
- the loan or lease or increase will meet your requirements and objectives; and
- you can meet the proposed repayments.
We won’t be able to give you credit assistance if our assessment shows that:
- you won’t be able to meet the proposed repayments without substantial hardship; or
- the loan or lease won’t meet your requirements or objectives
Getting a copy of your Assessment
If we provide you with credit assistance, you can ask us for a copy of our assessment any time up to 7 years after we provide you with a credit assistance quote. To request a copy please contact us. We will provide you with a copy:
- within 7 business days after the day we receive your request – provided you make the request within 2 years of the date of our credit assistance quote; or
- otherwise, within 21 business days after the day we receive your request.
Information about the Licensee and its Credit Representatives
We act as a credit representative of the licensee. The particulars of our licensee are noted in the table above. We are authorised to engage in credit activities including providing credit assistance and acting as an intermediary 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 through our Broker Group.
The following are the Top 6 residential lenders and % of business written in the previous financial year:
The following is a list of all the lenders with which I have accreditation with:
We obtain mortgage aggregation services from the Broker Group. The Broker Group is a member of the National Australia Bank Group. The Broker Group provides services at arm’s-length to our business which include IT systems, loan information and lodgement systems, training and development, commission processing, conferences and professional development events, and assistance with regulatory and compliance obligations. In consideration of the services the Broker Group gives us, we pay fees to the Broker Group or the Broker Group retains some of the commission panel lenders pay on loans we arrange. We have access to Broker Group panel of lenders including NAB Group and Broker Group branded products.
Our business is owned and managed independently from the Broker Group and National Australia Bank Limited (NAB).