Our pledge to service excellence

ABOUT THIS CREDIT GUIDE

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 and charges that may be applicable and what you can do should you have a complaint.

OUR COMMITMENT TO SERVICE

We are committed to assisting you 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 in a fair and ethical manner 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 the finance which we believe is in your best interests.

SERVICES WE PROVIDE

We are authorised to arrange loans under the National Consumer Credit Protection Act 2009 (National CreditAct). The National Credit Act regulates the activity of lending, leasing and finance broking.Our Credit Representatives are authorised to engage in credit activities including providing credit assistanceon behalf of Licensee. They can provide you with the following Credit Assistance:

• Give you information about loan/lease products or related services. Consider whether you are eligible for a loan or lease or any related service you requested. Suggest a suitable credit contract, an increase to your credit limit and/or that you retain your existing credit contract.

•  Assist you to apply for a credit contract or an increase in your credit limit.

•  Recommend a suitable consumer lease or to retain your existing consumer lease.

•  Assist you to apply for a consumer lease.

Under the National Credit Act, we are obliged to ensure that any loan or principal increase to a loan we helpyou to obtain is not unsuitable to your needs and objectives. When we make our assessment, it is important that we utilize information that is accurate, complete and up to date. To decide this, we are required to conduct a Preliminary 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; take reasonable steps to verify your financial situation

• If we are supplied with incomplete or incorrect information, you may be in breach of your legal obligations to the lender.

• Credit will be deemed unsuitable if at the time of the assessment, it is likely that at the time the credit is provided:

• You could not pay or could only pay with substantial hardship

• The credit will not meet your requirements and objectives.

If we provide you with credit assistance, you can ask us for a copy of our Preliminary 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 make the request within 2 years of the date when we provided you with credit assistance, otherwise within 21 business days after the day we receive your request.

ACTING IN YOUR BEST INTERESTS

When providing credit assistance, we are obligated to act in your best interests. This means that any products we recommend to you must be in your best interests and the reasons for these recommendations will be documented, recorded, explained and provided to you. In order to ensure your best interests have been met, we will assess what product/s and what credit assistance will be in your best interests.

This recommendation will include information about why this is in your best interests and how it is aligned to your needs and objectives.

In the case of actual, potential, or perceived conflicts of interest, we will disclose these to you and prioritise your interests ahead of our own in all circumstances. This includes giving priority to your interests in situations where we know, or ought to reasonably know there is a conflict between the interests of you and the interest of ourselves or a third party.

CONFLICT OF INTEREST

As a client, you may also be referred to any related or other company of which your broker may be a director or representative of, such as Accounting, Financial Planning, Real Estate, Insurance or Property Development. These industries operate under a different authorization structure and the services provided are distinct from the services provided under mortgage broking. There is no obligation to utilize the referred services offered by your broker and you are welcome to compare services to those in the market prior to making any commitment.

Additionally, we may access various reports via our lenders such as credit or property reports. These services are offered free to brokers and we believe it does not influence our recommendations. If any potential conflicts are noted during the assessment of the information you provided, these will be outlined on the Statement of Credit Assistance that will be provided to you prior to lodgment of your application to a lender.

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 such as for providing credit assistance or for brokerage fees for asset or personal loan applications, and the time that they are payable.

FEES PAYABLE BY YOU TO THIRD PARTIES

When a credit application is submitted, other fees and charges 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.

Additionally, you should review your loan contact or lease for further details of any such fees and charges 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.

FEES PAYABLE BY THE LICENSEE TO THIRD PARTIES

We may pay fees to call Centre companies, real estate agents, accountants, or lawyers, call centre companies and other parties for referring you to us. From time to time, we may also remunerate other parties through payments, rewards or benefits. These referral fees are generally small amounts in accordance with usual business practice. These are not fees payable by you.

Further information about referral fees, including our reasonable estimate of the amount of any fees payable and how it is calculated is available from us on request and will be included in the Statement of Credit Assistance document we will supply to you when we provide you with Credit Assistance.

PAYMENTS RECEIVED BY THE LICENSEE

We may receive fees, commissions or other remuneration or rewards from the lenders or lessors who fund the finance we arrange for you for various reasons which may include lender specific volumes. 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.

Purple Circle Financial Services Pty Ltd and our Credit Representatives may also receive a benefit for referring you to other specialist service providers. We will disclose this to you at the time we make the referral.

The total amount of commission we may receive in relation to your loan or lease 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. Some or all of a commission payment received by Purple Circle

Financial Services Pty Ltd may be paid to our Credit Representatives.

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 that we will provide you with when credit assistance is provided.

COMMISSION ESTMATES

HOME LOANS, INVESTMENT PROPERTY 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.

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 0.30% per annum of the outstanding loan amount.

PERSONAL LOANS

Upfront commission payable by lenders in relation to personal loans is calculated as a percentage of the loan amount and is generally in the range of between 1.65% and 2.75% of the loan amount. It is usually paid after settlement of the loan. No trail commission is payable by lenders in relation to personal loans.

LEASES

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 0.5% 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 Statement of Credit Assistance 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 or commission that we are likely to receive, how they are calculated, and our reasonable estimate of the fees or commissions that will be payable.

COMPANY OWNERSHIP

The broker group provides arm’s-length services to our business which include IT systems, loan informationand lodgement systems, training and development, commission processing, conferences and professionaldevelopment 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 our panel lenders pay on loans we arrange. Our business is owned and managed independently from the broker group.

OUR INTERNAL DISPUTE RESOLUTION (IDR) SCHEME

We are committed to providing you with the best possible service. If at any time we have not met our obligations or you have a complaint about the service that we provide, please inform us so we can work towards a resolution. We will endeavour to deal with your complaint promptly, thoroughly and fairly. If you have a complaint, the following steps are available to you. In the first instance, please contact Jaspreet Singh.

We will acknowledge receipt of your complaint within 1 business day. If Jaspreet Singh is unable to resolve the complaint to your satisfaction within 5 business days, we will escalate the complaint to the Complaints Officer. You can also contact the Complaints Officer directly as detailed below:

COMPLAINTS OFFICER

Name Complaints Handling Officer

Email compliance@purplecfs.com.au

Phone Number 1300 366 406

Address 1st Floor, 256 Fitzgerald St, Perth WA 6000

There will be situations where the Complaints Officer is also your Broker. This will not have any impact on the capacity to deal with your complaint effectively or appropriately. We may ask for additional information to ensure your complaint is properly investigated. Within 30 calendar days from the date you lodged the complaint with us, we will write to you advising you the outcome of the investigation and the reason/s for our decision, or if required, we will inform you if more time is needed to complete the investigation.

OUR EXTERNAL DISPUTE RESOLUTION (EDR) SCHEME

If you do not think we have resolved your complaint to your satisfaction, or you have not heard from us within30 calendar days, you may refer the matter to an EDR scheme. You may also refer the matter to an EDR scheme at any time, but if our IDR process in still in progress, they may request that our IDR processes be complete before considering the matter further.

This EDR process is available to you, at no cost. Two EDR schemes may be listed below. This indicates that the Licensee and their Credit Representative are both required to be members (independently) of an ASIC approved EDR scheme. Where a Credit Representative’s EDR is displayed, please contact that EDR scheme in the first instance for complaint escalation.

EDR (LICENSEE) EDR (CREDIT REPRESENTATIVE)

Name Australian Financial Complaints Authority

(AFCA)

Australian Financial Complaints Authority (AFCA)

AFCA Member Number 37926 103386

Email info@afca.org.au info@afca.org.au

Phone Number 1800 931 678 1800 931 678

Address GPO Box 3, Melbourne VIC 3001, Australia GPO Box 3, Melbourne VIC 3001, Australia

BROKER BENEFITS DISCLOSURE

As part of our compliance with transparency in broking practices and promotion of appropriate customer outcomes, we keep a register of benefits received from any lenders or aggregators. The register lists any benefits or gifts to the value of $100 or more. You may request a copy of this register to provide you with confidence that we have no lender conflicts.

TIERED SERVICING DISCLOSURE

We have access to a number of lenders that provide tiered servicing processes, enabling our loans to be processed faster. We are provided these services based on a number of measures. These programs promote preferential service standards to our loan applications, but do not entitle us to additional payments or commissions or to preferential customer discounts.

THINGS YOU SHOULD KNOW

We do not provide legal, financial or taxation advice unless specified in a separate contract. Accordingly, it is important you 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 authorized 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 future prospects. You should always rely on your own enquiries.

QUESTIONS?

If you have any questions about this Credit Guide please contact us on -admin@homeloanz.net