Prior to the Preliminary Credit Assessment being conducted, we may provide you with Product summaries that highlight various key features and benefits of the product. We may also provide you with Product Comparison documents that allow you to compare the features and benefits of each product and assess the suitability to your requirements.
Lender and Products
As a mortgage broker I am able to offer choice across a number of products and have the opportunity to be accredited to arrange loans with the following AFG panel lenders:
||AFG Commercial Powered by Thinktank
||AFG Home Loans – Alpha
|AFG Home Loans – Edge
||AFG Home Loans – Link
||AFG Home Loans – Options
|AFG Home Loans – Retro
||Bank of China
|Bank of Melbourne
||Bank of QLD
||Bank of Sydney
||Better Mortgage Management
||Firefighters Mutual Bank
||Granite Home Loans
|Health Professionals Bank
|La Trobe Financial
|MKM Capital Pty Ltd
|St George Bank
||Teachers Mutual Bank
||Automotive Financial Services
||Green Light Auto
|I have settled loans with the following lenders in the last 12 months:
Lenders available We aim to provide you with information from a range of lenders and products / loans. Once you have chosen a loan that is suitable for you, we will help you obtain an approval.
Commonly used lenders The list below documents the 6 most commonly used Lenders by my licensee. This does not necessarily reflect all of the financial institutions that my licensee is able to conduct business through.
However, if less than six lenders are displayed below, this is a summary of the lenders that my licensee is able to utilise for loan submission purposes
||Percentage of applications submitted in the past 12 months
|6. AFG Home Loans – Edge
Fees, Charges, Commission and Disclosures
Fees payable by you to third parties When the credit application (loan) is submitted, you may need to pay the
lender’s application fee, valuation fees, or other fees that are associated with the loan application process, even if the loan is ultimately unsuccessful.
Fees payable by you to the licensee If a fee is payable by you, this will be disclosed in a Credit Quote that will be
provided to you. If a Credit Quote is not supplied, this will indicate that we do not charge consumers any fees.
Payments received by the licensee Please take notice that the licensee may receive fees, commissions, or
financial rewards from Lenders or Lessors in connection with any finance we arrange for you. These fees are not payable by you.
The commission / brokerage amount depends on the amount of the finance and may vary from product to product. We can provide you with information about a reasonable estimate of those commissions and how the commission is worked out if you require.
Commissions are paid based on a percentage of the loan balance that is drawn down which in most cases will be net of any amounts you hold in an offset account. The way commissions are calculated and paid to us by
lenders may vary. By following the responsible lending requirements, we will ensure the loan recommended to you is not unsuitable for your situation and objectives.
Fees payable by the licensee to third parties 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 in accordance with usual business practice.
These are not fees payable by you. On request you can obtain a reasonable estimate of the amount of the fee and how it is worked out.
From time to time, we may also remunerate other parties through payments, rewards or benefits.
Tiered Servicing Arrangements Through your broker’s relationships with lenders they may have access
to tiered servicing arrangements. The benefits of this access to these arrangements can include faster processing, better information or greater levels of assistance provided for obtaining loan approval. Your broker will advise you of any tiered service arrangements that are in place with a particular lender that they have proposed at the time recommendations are made.
Access to this program is not based solely on the volume of new or existing lending your broker’s customers have with each respective lender and does not entitle them to any additional commissions outside of what they have disclosed to you, any additional payments or preferential customer discounts.
Other disclosures, benefits or interests Your AFG broker is prohibited from accepting gifts or inducements over $350.
Any benefit given to your broker greater than $100 and less than $350 will be recorded in a Gifts Register. A copy of your broker’s register is available to inspect on request. If you wish to inspect the register, please contact your broker.
About Credit Representatives
Your broker is authorised to engage in credit activities by Hub Services Pty Ltd. The licensee shares responsibility in the conduct of your broker.
Commonly used lenders by your broker
The list below documents the 6 lenders most commonly used by your broker. The lenders disclosed below may be different to the lenders that the licensee has already disclosed. This may be due to different accreditation requirements or different types of consumers. The list below does not necessarily reflect all the financial institutions that your broker is able to conduct business through.
However, if less than 6 lenders are displayed below, this is a summary of the lenders that the broker is able to utilise for loan submission purposes
Financial Institutions* Percentage of applications submitted in the past 12 months**
- Westpac 58%
- Keystart 87%
- Commonwealth Bank 13%
- ANZ 11.07%
- NAB 10.43%
- Bankwest 7.61%
* The Top 6 lenders are based on the total volume of loans lodged in the last 12 months. Where I may not be accredited with 6 lenders the balance of lenders is made up of the top 6 lenders of my licensee.
**The % of loans is based on the total loans lodged over the past 12 months. This will not add up to 100% where I have lodged to lenders outside of my top 6.
Payments to the broker How are we paid?
Fees payable to third parties by your broker
Your broker may receive a whole or part of the commissions received by the licensee referred to above. This may be paid to your broker directly or indirectly from the licensee. You may obtain from us information about a reasonable estimate of those commissions and how the commission is worked out if you wish.
Commissions are paid based on a percentage of the loan balance that is drawn down; which in most cases will be net of any amounts you hold in an offset account. The way commissions are calculated and paid to your broker by lenders may vary.
By following the responsible lending requirements your broker will ensure the loan recommended to you is not unsuitable for your situations and objectives.
The information set out in the table for the licensee also applies to your broker with regards to referral fees.
On request you can obtain a reasonable estimate of the amount of the fee and how it is worked out.
Irrespective of our status as a licensee, representative or credit representative, our reputation is built on matching the appropriate product(s) to the individual’s requirements. We go to great lengths to ensure satisfaction with our services and offerings. However, there may be instances from time to time, where applicants may be dissatisfied with the outcomes of our consultation process. If you have a complaint about the service that we provide, the following steps or avenues for resolution are available to you.
Most complaints arise from miscommunication and can usually be fixed quickly. So, please contact Remo Pietropaolo first and express about your concerns.
If the issue is not satisfactorily resolved within 5 working days by talking with Remo Pietropaolo, we will apply our internal complaints process to manage your complaint appropriately. In this instance, the complaint will be internally escalated to our
Complaints Officer. You may also contact the Complaints Officer directly.
Name Domenic Forgione
Address Unit 5, 10 Main Street Osborne Park WA 6017
Note: 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.
By using our internal complaints process we hope to assist you to resolve your complaint quickly and fairly. The maximum timeframe in which to provide a written response to you is 45 days, although in pursuit of best practice and the reputation of our organisation, we aim to resolve these issues in a much shorter time frame.
Although we try hard to resolve a customer’s concern in the most considerate and direct manner, if you are not completely satisfied after the above steps have been attempted, you still have other avenues available to resolve the dispute. This is then managed externally and independently.
This external dispute resolution (EDR) process is available to you, at no cost. Two EDR schemes may be listed below. This indicates that the Credit Representative and their authorising Licensee are both required to be members (independently) of an ASIC approved EDR scheme. Where a Credit Representatives EDR is displayed, please contact that EDR scheme in the first instance for complaint escalation.
EDR (Licensee) EDR (Credit Representative)
Name COSL AFCA
Phone 1800 138 422 1800 931 678
Address PO Box A252
Sydney South NSW 1235
Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001
Things you should know
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.
We don’t provide legal or financial advice. It is important you understand your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.