Credit guide

About this guide

This online guide provides a general overview of our credit assistance. For consumer credit regulated by the National Consumer Credit Protection Act 2009, you will be provided with the applicable formal disclosure documents before credit assistance is provided. Those documents identify the relevant credit representative, licence details, external dispute resolution membership and any other information required by law.

If this online overview differs from a formal Credit guide or disclosure document provided to you, the current formal document applies.

How Gifted Loans can assist

Depending on your needs, our service may include:

• discussing your lending objectives and circumstances;
• helping you understand the information and documents lenders may require;
• considering loan products available through the lenders we can access;
• explaining relevant features, costs and potential trade-offs;
• assisting with the preparation and submission of an application; and
• communicating with the lender and other parties through assessment and settlement.

Gifted Loans does not approve loans. Approval, pricing, valuation requirements and loan conditions are determined by the lender.

Responsible lending

Where responsible lending laws apply, we will make reasonable enquiries about your requirements and objectives and your financial situation, take reasonable steps to verify relevant financial information, and assess whether a proposed credit contract is unsuitable.

We must not suggest that you enter, increase or remain in a regulated credit contract if the contract is assessed as unsuitable. A contract may be unsuitable if you could not meet the financial obligations without substantial hardship, or if it does not meet your stated requirements and objectives.

Our lender access

We consider products from the lender panel available to us. We do not compare every lender or credit product in the Australian market. The lenders and products considered will depend on your circumstances, the nature of the lending and lender eligibility requirements.

Fees, commissions and other benefits

A lender, mortgage manager or aggregator may pay commissions in connection with a settled loan. These can include an upfront commission and, in some cases, an ongoing trail commission. The amount or method of calculation can vary by lender and product.

Before you proceed, we will disclose commissions, benefits and any fees payable by you where required. We will also tell you about any client fee before it is incurred. You may ask for more information about how these amounts are calculated.

Conflicts of interest

We take reasonable steps to identify and manage conflicts of interest. If a material conflict affects the service provided to you, it will be disclosed where required. You should ask questions if you would like more information about a lender relationship, commission or referral arrangement.

Your preliminary assessment

Where required by law, you may request a written copy of the preliminary assessment made in connection with regulated credit assistance. Contact us if you would like a copy. Applicable response periods depend on when the request is made.

Your responsibilities

Good lending outcomes depend on complete and accurate information. Please:

• provide truthful, complete and current information;
• tell us promptly if your circumstances or objectives change;
• review application information and lender documents carefully;
• ask questions about anything you do not understand; and
• obtain independent legal, tax, accounting or financial advice where appropriate.

Commercial and business lending

Some lending for business, investment or commercial purposes is not regulated by the National Consumer Credit Protection Act 2009. The legal protections and disclosure requirements that apply to consumer credit may therefore not apply. We will explain the nature of our service and relevant documentation for your transaction.

Complaints

If you are dissatisfied with our service, please contact Gifted Loans first by telephone or email. Tell us what happened and the outcome you are seeking. We will acknowledge, investigate and respond within the timeframes that apply to the complaint.

If a complaint about regulated credit assistance is not resolved, the formal Credit guide provided to you will identify the relevant external dispute resolution provider and membership details. The Australian Financial Complaints Authority provides free and independent dispute resolution for eligible financial complaints. More information is available at afca.org.au.

Privacy

Personal and financial information is handled in accordance with our Privacy policy and any privacy consent or collection notice provided during the application process.