OurMoneyMarket Lending Pty Ltd – Credit Guide

This document provides information about the services we provide.

We are licensed to provide credit (enter into credit contracts) under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act).

Key information

We will need information from you

Under the NCCP Act, before we enter into a credit contract with you or increase your credit limit, we are obliged to make an assessment that the credit contract or limit increase will not be unsuitable for you. To do this, we may need to ask you some questions. The law requires us to:

• make reasonable inquiries about your requirements and objectives;
• make reasonable inquiries about your financial situation; and
• take reasonable steps to verify that financial situation.
  
  

It is important that you provide accurate and complete information so we can properly assess you and ensure the credit is not unsuitable for you.

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

• you could not repay the loan or could only repay the loan with substantial hardship; and/or
• the credit will not meet your requirements and objectives.

For example, if you can only repay the loan by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason, we may ask you to provide a significant amount of information. It is therefore very important that the information you provide to us is accurate. We will not enter into a credit contract or increase the credit limit of a contract with you if we assess that the credit contract is unsuitable for you.

You have a right to request a copy of our assessment that the credit contract is not unsuitable for you.

If you make such a request before we enter into the credit contract or increase the credit limit, we will provide you with a written copy of the assessment before entering the contract or increasing the credit limit. If you make such a request within 7 years after the credit contract is entered into or the credit limit is increased, we will provide you with a written copy of the assessment free of charge. If your request is made within 2 years of entering the contract or increasing the credit limit, we will provide the assessment within 7 business days of receiving your request. If your request is made after 2 years, we will provide the assessment within 21 business days of receiving your request. You can make a request by contacting us using the details provided above. We are not required to provide you with a suitability assessment if we have not provided any loan to you or we have not agreed to increase your loan amount.

If we arrange a loan for you to purchase or refinance real estate, remember you must make your own enquiries about the value of the real estate and its potential for future growth. Although we may obtain a valuation, that is for our own use and you should not rely on it.

Services we provide

We underwrite, service and market loans. These loans are structured and managed by us. The lender of record (i.e. the name which will appear on your credit contract and your mortgages) is OurMoneyMarket Lending Pty Ltd ACN 605 231 669 Australian Credit License Number 488228.

Fees payable by you

We charge an establishment fee that is payable upon approval of your loan, and should security be required, valuation fees and other fees may be payable. You may contact us to request more information about the fees and charges payable to us, and how they are worked out, by using the contact details provided above.

Commissions received by us

If you are not approved for credit by us, we may refer you to a third party partner who may be able to assist you. We may receive a commission if your application with one of our partners is successful. These commissions are not payable by you and do not alter any interest rates or fees payable by you. The amount of commission paid to us (if any) is not ascertainable at this time.

Commissions payable by us

We source referrals from a broad range of sources. For example, we may pay fees to call centre companies, real estate agents, accountants, or lawyers for referring you to us. These referral fees are generally small amounts and accord with usual business practice. These are not fees payable by you. You may, on request, obtain a reasonable estimate of those commissions and how the commission is worked out by contacting us using the details provided above.

Our internal dispute resolution process

We hope you are delighted with our services, but if you have any complaints or concerns, please contact our Complaints Officer using the contact details listed above. We will acknowledge your complaint promptly and in any event within 24 hours (or one business day) of receiving it, or as soon as practicable.

You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing.

When we receive a complaint, we will attempt to resolve it promptly and fairly. We aim to provide you with a response within 30 calendar days of receiving your complaint. For complaints involving default notices, hardship notices or requests to postpone enforcement

proceedings, we will respond within 21 calendar days. If we are unable to resolve your complaint within these timeframes, we will notify you of the delay and inform you of your right to escalate the complaint to AFCA.

Our external dispute resolution scheme

If you are not satisfied with the outcome of our internal dispute resolution process, or if we do not respond to your complaint within the applicable timeframe, you may refer your complaint to the Australian Financial Complaints Authority (AFCA) using the contact details listed above. AFCA provides a free and independent external dispute resolution service.

You can obtain further details about our dispute resolution procedures on request. Our privacy policy is available on our website or on request.

Things you should know

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.

Questions?

If you have any questions about this credit guide or anything else about our services, just ask at any time by contacting us using one of the methods set out above.