Credit Guide

This guide is provided under the National Consumer Credit Protection Act 2009 (NCCP Act). It tells you who we are, how we work, how we are paid and what you can do if you are unhappy with our service. We give it to you before providing credit assistance.

Credit Representative: SYD Mortgage Management — Credit Representative number 493472.

Authorised under Australian Credit Licence number 553135. Our licensee is responsible for the credit assistance we provide.

Broker: Licole Yao. Contact: Phone 0461 269 038 · Email licoleyao@sydmortgage.com.au.

Through our licensee's panel we can access home, investment, commercial, asset and personal loans from 70+ lenders, including the major banks, regional banks, non-bank lenders and specialist lenders.

We are not obliged to use any particular lender. On request, we will give you a list of the six lenders we most commonly used in the previous financial year.

Best Interests Duty: we must act in your best interests when providing credit assistance, and if there is a conflict of interest we must prioritise your interests.

Responsible lending: before recommending a loan or helping you apply, we make reasonable enquiries about your requirements and objectives, take reasonable steps to verify your financial situation, and assess whether the loan is unsuitable — for example whether you could only meet repayments with substantial hardship.

Preliminary assessment: you can ask for a written copy of our assessment. If requested within two years of the assessment we will provide it within 7 business days; between two and seven years, within 21 business days.

We do not usually charge you a fee for arranging a home loan. If a fee does apply — for example for some commercial or complex lending — we will tell you the amount and when it is payable in a Credit Quote before we provide any credit assistance.

Lenders and third parties may charge their own fees, such as application, valuation, settlement and LMI costs. These will appear in the lender's documents.

When your loan settles, the lender pays commission to our licensee, who passes a share to us. This is typically an upfront commission of about 0.50%–0.70% of the amount drawn (net of offset) and an ongoing trail commission of about 0.10%–0.20% per year of the outstanding balance.

Commission is not an extra cost to you. The exact amounts and how they are calculated will be set out in our Credit Proposal Disclosure before you apply. Some lenders may claw back commission if a loan is repaid early; we do not pass this on to you as a fee.

We may pay a referral fee to people who introduce you to us, and may receive referral fees from service providers we refer you to. These will be disclosed to you.

Step 1 — contact us: Phone 0461 269 038 · Email licoleyao@sydmortgage.com.au. Tell us what happened and what you would like us to do. We will acknowledge your complaint within one business day where possible.

Step 2 — our response: we will investigate and give you a final written response within 30 calendar days. If we need longer we will tell you why.

Step 3 — external dispute resolution: if you are not satisfied, or we haven't resolved your complaint within 30 days, you can contact the Australian Financial Complaints Authority (AFCA) — website www.afca.org.au · email info@afca.org.au · phone 1800 931 678 (free call) · mail GPO Box 3, Melbourne VIC 3001. AFCA's service is free and independent. Time limits may apply, so act promptly.