Credit Guide
by futurew1

This Credit Guide provides important information about us and the services we provide. This document outlines the type of advice we can give you, how we are remunerated, fees that may be applicable and what you can do should you have a complaint. Please ask if you require more information or clarification on anything disclosed in this document.

  1. KEY INFORMATION

Australian Credit Licence holder Mortgage Specialists Pty Ltd

 
Australian Credit Licence number 387025

 
External Dispute Resolution Australian Financial Complaints Authority (AFCA)

1800 931 678

info@afca.org.au

GPO Box 3 Melbourne VIC 3001

  1. CREDIT REPRESENTATIVE

Credit Representative name  Manushi Singh
Credit Representative number 491216
Company name Fininity Capital Pty Ltd

ACN: 631 791 501
Business name FutureWise Finance

ABN: 57 631 791 501
Email manushi@futurewisefinance.com.au

 
Phone 0425 343 148

 
Internal Dispute Resolution Mark Norman

325 Churchill Ave, Subiaco WA 6008

08 9286 6888

compliance@spfgroup.com.au

 

  1. OUR COMMITMENT TO SERVICE

We are committed to assisting you to find the right finance option based on the information provided by you. We have the essential qualifications, experience and competency required under the relevant legislation to give you the professional service needed in assessing your financial needs. You can be confident that we will deal with you fairly and ethically and take the time to listen to your requirements and objectives. Once we have established your goals, we will investigate and assess a range of options from our extensive lender panel. Ultimately, our primary aim is to provide you with finance that explicitly matches your requirements.

  1. SERVICES WE PROVIDE

We are authorised to arrange loans under the National Consumer Credit Protection Act 2009 (NCCP Act). The NCCP Act regulates the activity of lending, leasing, and finance broking.

  1. LOAN ASSESSMENT

Under the NCCP Act, we are obliged to ensure that any loan or principal increase to a loan we help you to obtain is not unsuitable for you. To decide this, we are required to conduct a Preliminary Credit Assessment to determine if the loan is not unsuitable. The law requires us to:

  •  make reasonable inquiries about your requirements and objectives;
  •  make reasonable inquiries about your financial situation; and take reasonable steps to verify that financial situation.

Credit will be deemed unsuitable if at the time of the assessment:

  •  you could not pay or could only pay with substantial hardship, or the credit will not meet your requirements and objectives.

When we make our assessment, we must utilise the information that is accurate, complete and up to date. If we are supplied with incomplete or incorrect information, you may be in breach of your legal obligations to the lender.

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 credit assistance. To request a copy please contact us and we will provide you with a copy:

  •  within 7 business days after the day, we receive your request – provided you 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.

  1. FEES PAYABLE BY YOU TO US

If a fee is payable by you, this will be disclosed in a Credit Quote. The Credit Quote will outline any fees payable for providing credit assistance and the time that they are payable. If you do not receive a Credit Quote, this will indicate that no fees are payable.

  1. FEES PAYABLE BY YOU TO THIRD PARTIES

When a finance application is submitted, other fees may be applicable that are payable to the lender of your choice, such as application fees, valuation fees or other fees. These fees will be disclosed in a Credit Proposal that will be provided to you once we have collaboratively decided on a loan product.

If for any reason your loan does not proceed, you may still be required to pay the lenders application and other fees, valuation fees and government fees as charged by the lender.

  1. FEED PAID BY THE LICENSEE TO THE THIRD PARTY

We may pay fees to call centre companies, real estate agents, accountants, or lawyers and others for referring you to us. These referral fees are generally small amounts under usual business practice. These are not fees payable by you.

From time to time, we may also remunerate other parties through payments, rewards or benefits.

If your broker is a Credit Representative of the Licensee they may also remunerate third parties in a similar manner.

On request, you can obtain a reasonable estimate of the amount of the fee and how it is worked out.

  1. COMMISSIONS RECEIVED BY THE LICENSEE

We may receive fees, commissions or other remuneration or rewards from the lenders who fund the finance we arrange for you. These are not fees payable by you.

Remuneration or rewards may include training, professional development, entertainment, gifts, conference attendance, sponsorship or entry into a competition run by a lender or my aggregator. These types of rewards are not generally permanent and the remuneration received is not readily ascertainable.

If your broker is a Credit Representative of the Licensee they may receive a whole or part of the commissions received by the Licensee that has been described.

You may obtain from us information about a reasonable estimate of those commissions and how the commission is worked out. Specific details of any commission to be received will be included in the Credit Proposal document that we will provide you with when credit assistance is provided.

  1. CREDIT REPRESENTATIVE’S COMMONLY USED LENDERS

Beyond Bank ME Bank
Resimac Heritage Bank
ANZ NAB

We have access to a comprehensive range of lenders to assist you in your finance requirements. Our current top 6 credit providers are:

  1. OUR INTERNAL DISPUTE RESOLUTION SCHEME

We always strive to provide the best possible service and provide you with finance that suits your needs. However, we appreciate that from time to time, applicants may not be satisfied with the process or the solution. If this occurs, and you have a complaint about the service we provide, we have a resolution process in place to address your concerns.

You can lodge your complaint through several channels. You may do this verbally or in writing. If you choose to lodge the complaint by email or mail, please make sure you include as much information as you can. You should explain the details of your complaint as clearly as you can.

Step 1: Please contact Manushi Singh in the first instance as many disputes can be resolved relatively quickly. Your mortgage broker will have 5 business days in which to try and resolve the dispute.

Step 2: If you are not satisfied with the outcome or in which the way your complaint has been handled, then you can escalate the complaint to the Internal Complaints Officer who will endeavour to resolve your complaint:

COMPLAINTS OFFICER

Name Mark Norman

Email compliance@spfgroup.com.au

Phone Number 08 9286 6888

Address 325 Churchill Ave, Subiaco WA 6008

In some instances, your broker may also be fulfilling the role of the Complaints Officer. This will not affect the capacity to have your complaint dealt with appropriately.

Once the dispute is escalated, we will provide you with a written response in a maximum time of 45 days, however, we hope to resolve all issues in a shorter time frame.

  1. OUR EXTERNAL DISPUTE RESOLUTION (EDR) SCHEME

If you are still not satisfied with the outcome of your complaint, then you have the further option of referring the matter to an EDR scheme.

We are a member of the following EDR scheme. The EDR scheme can be contacted using the details below:

Name Australian Financial Complaints Authority (AFCA)

AFCA Member Number 42176
Email info@afca.org.au

Phone Number 1800 931 678

Address GPO Box 3 Melbourne VIC 3001

  1. THINGS YOU SHOULD KNOW

We do not provide legal, financial or taxation advice unless specified in a separate contract. Accordingly, you must ensure you understand your legal obligations under the loan and the financial consequences. We recommend that you consult your Accountant, Solicitor, Taxation Department, Investment Adviser or any other licensed person in respect to the financial implications of this application for finance before you enter the credit contract.

Under the Financial Services Reform Act 2001, Specialist Finance Group and/or their authorised representative cannot provide any advice or opinion on any deposit accounts and/or insurance products.

As a duty of care, we recommend that you seek professional advice in regards to insurance products such as mortgage protection insurance, income protection insurance and life insurance. It is the responsibility of the applicant(s) to maintain mortgage repayments and we strongly recommend that you seek insurance advice with regards to risk management and financial planning.

We will inform you of any potential conflict of interest or relationship that could reasonably be expected to influence our recommendation.

We don’t make any promises about the value of any property you finance with us or its prospects. You should always rely on your own enquiries.

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.