Information about our credit assistance services, fees, commissions and your rights as a consumer.
| Credit Licence Name | Carter McLean Pty Ltd |
| Credit Licence | 491549 |
| ABN | 81 612 885 015 |
| Phone Number | 0427 854 278 |
| Principal Address | 12 Pinemount Crescent, Oxenford QLD 4210 Australia |
This document provides you with information relating to our activities and those of our credit licensees. It contains information about various fees and charges that may be payable by you to us, as well as commissions we may receive as a licensee or 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 licensee.
We give you credit assistance when:
We have a legal obligation under the Best Interests Duty (BID) to act in your best interests when providing you with credit assistance in relation to consumer credit products.
Before we provide credit assistance to you, we aim to assess whether the particular loan or lease is suitable for you. To do this, we need to make reasonable inquiries and verify that:
We won't be able to give you credit assistance if our assessment shows that:
If we provide you with credit assistance, you can ask us for a copy of our assessment any time up to 7 years after the credit contract or lease is entered into or the credit limit is increased. To request a copy please contact us. We will provide it to you:
We act as a credit licensee as Carter McLean Pty Ltd. We are authorised to engage in credit activities including providing credit assistance.
Subject to meeting credit criteria, we can assist you to obtain loans and leases from a broad range of lenders and lessors through our aggregator groups. We are also independently accredited as a licensee with certain lenders.
The following lenders are available to us through Connective Broker Services Pty Ltd's lending panel or our direct accreditations. For the full, current list of our home loan and consumer lending partners, and the credit reporting bodies we work with, please see:
We sometimes charge a fee for our services. More details about the fees payable by you will be set out in a quote we will give you before a finance application is lodged. Usually, the fee can be deducted from the finance proceeds. You may obtain from us information about how these fees and charges are worked out and a reasonable estimate of those fees.
You may have to pay other fees and charges — such as 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.
Connective Broker Services Pty Ltd has been appointed by us as its agent to receive commissions from lenders and lessors and to pay us a commission in relation to loan contracts or leases. The total amount of commission we may receive 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.
Loan Contracts such as Home Loans, Investment Property Loans and Personal Loans
Upfront commission payable by lenders in relation to loans is calculated as a percentage of the loan amount and is generally in the range of 0.5% and 1% of the loan amount. It is usually paid after settlement of the loan. It includes GST and our aggregator may take a percentage before we receive the funds.
Trail commission payable by lenders in relation to loans is generally calculated regularly (monthly, quarterly, bi-monthly or annually) on the outstanding loan balance and is paid in arrears. The trail commission payable by lenders is generally in the range of 0% per annum and 0.25% per annum of the outstanding loan amount.
Upfront commission payable by lessors in relation to leases is calculated as a percentage of the lease amount and is generally in the range of 1% and 4% of the lease amount. It is usually paid after settlement of the lease. Trail commission is generally not payable in relation to leases.
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.
Our aggregator groups may have volume bonus arrangements in place with lenders. From time to time we or our aggregator group may receive a benefit, indirectly by way of training, professional development days or sponsorship.
If a third party has introduced or referred you to us, we may pay them a commission or a fee. We obtain referrals from a range of sources, including real estate agents, accountants, financial planners and others.
Further information about referral commissions, including our reasonable estimate of the amount of any commission payable and how it is calculated, is available from us on request and will be included in the client profile and recommendations document we will supply to you when we provide credit assistance.
We are committed to providing our clients 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. We will endeavour to deal with your complaint promptly, thoroughly and fairly.
A complaint is any expression of dissatisfaction made to or about us, related to our products or services, or the complaints handling process itself. If you are experiencing financial difficulty, please contact us as early as possible so we can help you explore available options.
If you have a complaint, we request you follow these steps:
We may ask for additional information and request you to put your complaint in writing to ensure your issue is properly investigated. In cases where your complaint will take longer to resolve, we will update you progressively.
If your complaint relates to a product or service acquired through a third party (for example, a lender) we may ask you to contact the relevant third party. They will deal with your complaint under their own complaint resolution process.
If you are not satisfied with the resolution of your complaint by the third party, you are entitled to have your dispute considered by their External Dispute Resolution Scheme. Please contact the third party for further details.
We will handle your complaint in accordance with ASIC Regulatory Guide 271 — Internal Dispute Resolution.
Our Complaints Manager will acknowledge receipt of your complaint within five business days. If unable to resolve the complaint to your satisfaction within five business days, they will write to you advising the procedures we will follow in investigating and handling your complaint.
Within 30 calendar days from the date you lodged the complaint with us, we will write to you advising the outcome of the investigation and the reason/s for our decision, or if required, we will inform you that more time is needed to complete the investigation.
If you do not think we have resolved your complaint to your satisfaction, you may take the matter — free of charge — to the relevant External Dispute Resolution Scheme (provided it is within the scheme's terms of reference) as detailed below.
Our Privacy Disclosure outlines how we collect, use and protect your personal information. You can request a copy of this at any time or view it on our website.
We may use secure electronic systems and data verification tools to assist in assessing your application. Any automated results are reviewed by a qualified credit adviser before a recommendation is made.
This Credit Guide can be provided in large print or alternative formats upon request.
Our external dispute resolution service provider is AFCA (Australian Financial Complaints Authority):
AFCA Membership: 38764