Credit Guide
I/We (on my own behalf or, if acting as an agent for the borrower(s) or guarantor(s), on behalf of the borrower(s) and guarantor(s)) understand and agree to the following in connection with this loan application to funding.com.au:
Credit Provider:
Funding Pty Ltd A.C.N. 607 035 861, Australian Credit Licence (#483665) and/or its credit representative funding.com.au Pty Ltd or its nominee
Note the credit provider may also act as credit assistance provider, so where applicable the correct term is to be used interchangeably herein.
This guide provides consumers who are potential customers with details of funding.com.au’s credit assistance or credit providing services. Funding.com.au advises I/we read this document carefully and ensure I/we understand it.
Note. This is not for any business related loans or finance. The credit guide only relates to any credit contracts under the National Consumer Credit Protection Act (“the Act”).
Where funding.com.au merely provides the lender’s information, it is not providing credit assistance and therefore this guide is likely to not apply.
About funding.com.au
The terms “funding.com.au”, “funding Pty Ltd”, “it”, “its” refers to the credit provider. Funding.com.au provides consumer and non-consumer lending products such as:-
- Home loans
- Investment loans
- Mortgages
- Business loans
- Personal loans
Funding.com.au’s obligations (under the National Consumer Credit Protection Act 2009 (s120 & 123 & generally)
To not provide credit to consumers that is unsuitable.
Funding.com.au will assess whether its credit contract is suitable or not based on the information I/we provide and information it verifies.
The credit contract will be unsuitable if it is likely I/we will be unable to comply with my/our financial obligations under the contract, or could only comply with substantial hardship; or the contract does not meet my/our requirements or objectives.
This is a legal obligation funding.com.au has.
Obtaining a copy of suitability assessment
I/We can request a copy of the credit assessment within 7 years of obtaining credit from funding.com.au or prior to obtaining credit. If my/our request is within 2 years of obtaining credit funding.com.au must provide the assessment within 7 working days. If my/our request is outside 2 years of obtaining credit I/we must provide the assessment within 21 working days.
Internal Dispute resolution
If I/we have a dispute, funding.com.au recommends I/we contact it first.
funding.com.au will endeavor to resolve the dispute within 7 days.
Should funding.com.au not be able to resolve the dispute within 28 days it will notify me/us in writing.
External Dispute Resolution
If I/we are still unhappy with funding.com.au’s decision or have an unresolved dispute, I/we can contact:
Australian Financial Complaints Authority (“AFCA”) Scheme
Online: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678 (free call)
Mail: Australian Financial Complaints Authority Limited, GPO Box 3, Melbourne VIC 3001
Funding.com.au’s fees and charges
The credit providers’ fees are outlined in the quote or formal loan offer. The credit assistance providers are paid brokerage fees or commissions on the loans introduced. Depending on the loan, product or lender this will either be paid by the lender or be payable by me/us the consumer. I/We will be notified of any fees payable by me/us in the credit quote. These fees or commissions are typically between 1% and 3% of the loan amount.
I/We may obtain information from funding.com.au regarding how fees and charges are payable and are worked out, a reasonable estimate of commissions likely to be received and how they are worked out on request.
Funding.com.au may pay fees to call centre companies, real estate agents, accountants, or lawyers and others for referring me/us to it. These referral fees are generally small amounts in accordance with usual business practice. These are not fees payable by me/us. On request I/we can obtain a reasonable estimate of the amount of the fee and how it is worked out.
From time to time, Funding.com.au may also be paid referral fees, brokerage fees or commissions on the loans it introduces to other lenders. Depending on the loan, product or lender this will either be paid at a fixed fee for a lead or fixed percentage (ie. 1% of the credit amount) and paid to Funding.com.au in most cases by the lender. If any fees are payable by me/us, I/we will be notified of such fees payable in the credit quote.
Funding.com.au’s credit providers
Funding.com.au specialises in providing credit assistance from credit provided from non-bank lenders or it provides credit as credit provider (ie the actual lender). Most of Funding.com.au’s business is conducted with funding Pty Ltd or its credit representatives or associated groups.
Fees payable to third parties.
Funding.com.au may pay fees to call centre companies, real estate agents, accountants, or lawyers and others for referring me/us to it. These referral fees are generally small amounts in accordance with usual business practice. These are not fees payable by me/us. On request, I/we can obtain a reasonable estimate of the amount of the fee and how it is worked out. From time to time, Funding.com.au may also remunerate other parties through payments, rewards or benefits.
Volume Bonuses
Funding.com.au do not currently have any volume bonus arrangements.
Funding.com.au’s contacts
Funding Pty Ltd
Level 9, Gateway Building,
50 Appel Street
Surfers Paradise QLD 4217
Australia
Email: funding@funding.com.au
By checking the box and/or clicking on the “agree” button I/we are taken to have accepted the above terms. Checking the “agree” button of this electronically signed document is the same as providing a written signature under the terms of the Electronic Transactions Act 1999 (Cth).
Funding.com.au and any reference to funding.com.au includes funding.com.au Pty Ltd, funding Pty Ltd, it and any other parent companies, subsidiaries, affiliates, successors, assignors, brokers, insurers, lenders, investors and agents, and this agreement extends to them.