Credit Guide

This is the Credit Guide of Premium Broker Pty Ltd ABN 40 105 746 692, Australian Credit Licence 392625. We are licensed to arrange loans and leases under the National Consumer Credit Protection Act 2009.

About this Credit Guide

This Credit Guide is designed to assist you in deciding whether to use the services we offer.

Services we provide

We will provide you with information on a range of lenders and products. Once you have chosen a loan or lease that is suitable for you, we will help you to obtain an approval.

Our Associations and Relationships

Premium Broker Pty Ltd is accredited with YBR Aggregation Pty Limited, which is a wholly owned subsidiary of Yellow Brick Road Group Limited. We source finance from a panel of lenders. The lenders named below are the six lenders with whom we conduct the most business:

ANZ, CBA, Bankwest, NAB, Macquarie, St George.

Our Responsible Lending Obligations

We are obliged to ensure that any loan, or principal increase to a loan, we help you to obtain, or any lease we help you enter, is not unsuitable for you. To decide this, we may need to ask you some questions in order to assess whether the loan or lease is not unsuitable. The law requires us to:

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

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

you could not pay or could only pay with substantial hardship; or
the credit will not meet your requirements or objectives.

For example, if you can only repay 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 must ask you to provide a significant amount of information. It is important that the information you provide is accurate, complete and up-to-date. If we proceed on incomplete or incorrect information, you may be in breach of your legal obligations to the lender.

We will provide you with a copy of our preliminary assessment of your application if you ask for it within seven years. This requirement is only triggered if we give you credit assistance.

Our Fees and Charges

Generally, no fees or charges are payable by you to us for our credit assistance. In some instances, a fee for service may be required. Details of these fees will be set out in a Credit Quote & Proposal.

However, you may be charged a lender’s application fee, valuation fees and other fees associated with the loan.

These fees are not charged by us and will be disclosed to you prior to submission of the credit application. Please note, however, that if a valuation is conducted and you ultimately choose not to proceed with the loan, you may be liable for the valuation fees.

Commissions

We may receive commissions from the lenders and lessors who provide finance for you as our customers. These fees are not payable by you. You may obtain information relating to reasonable estimates of those commissions and how they are calculated. When we provide you credit assistance, you may obtain from us a reasonable estimate of the commission likely to be received, directly or indirectly by Premium Broker Pty Ltd and its credit representatives.

From time to time, we may receive financial or non-financial benefits from YBR Aggregation Pty Limited, lenders, lessors or others. Some or all of the commission received by YBR Aggregation Pty Limited may be paid to the Credit Representatives.

Aggregator Commission & Income (including Sponsorship & Volume Based Incentives)

YBR Aggregation Pty Limited, is a mortgage aggregator and acts as an intermediary organisation that sits between mortgage brokers and lenders (banks, non-banks, credit unions, etc.). They act as an infrastructure provider, supplying access to lender panels, compliance systems, software, training, and commission management. YBR Aggregation Pty Limited negotiate accreditation agreements with a wide panel of lenders and brokers who join the aggregator network gain access to these lenders without needing to set up direct relationships themselves

Loyalty Bonuses

Premium Broker Pty Ltd may pay Loyalty Bonuses and or Commissions to our credit representatives for referring to our Diversification Partners such as Leasing or Conveyancing. Loyalty Bonuses and Commissions may vary between 20% and 25% of professional fees charged by the Diversification Partner. These fees are not payable by you.

Referral Fees

We may pay a referral fee (i.e. commission) for third party referrals. An example of a referrer would be a real estate agent or solicitor. This fee is not payable by you. This fee will be disclosed in the Credit Quote & Proposal Disclosure Document. You may on request obtain a reasonable estimate of the amount of commission and how it is calculated.

Premium Broker Pty Ltd and your representative may also receive a benefit for referring you to other specialist service providers.

Referral Agents

If you were referred to Premium Broker Pty Ltd (or an accredited representative) by a referrer, then you need to know that the National Consumer Credit Protection Regulations contain provision for referrers to be exempt from licensing requirements provided that certain criteria pertaining to the collection and provision of consumer details to registered and or licensed persons are met.

A Referral Agent

will only engage in credit activities incidentally to another business they are carrying on.
will not charge a fee to the consumer for the referral.
will only inform the consumer that they able to arrange loans and leases.
will not recommend any particular product, nor provide any advice concerning loans or leases.
will inform the consumer of any commissions or other benefits you may receive. Premium Broker Pty Ltd will also provide this information within our Credit Proposal & Quote.
will obtain the consent of the consumer to pass on their name, contact details and a short description of the purpose for which they may want the credit or lease.
will pass the consumer’s contact details to us within five business days of informing the consumer that we are able to arrange loans and leases.
Will agreed to indemnify Premium Broker Pty Ltd to the maximum extent permitted by law from and against all Liabilities which arise from or are causally connected with any (and all) acts, omissions, defaults, representations or statements whether negligent, reckless, innocent or otherwise, directly or indirectly related to or arising as a consequence of the supply of the Services outlined in this credit guide.

Our Dispute Resolution Procedures

We will try to deal with your complaint within 30 days. If you are unhappy with our services or want more information about our internal dispute resolution procedure, please contact us.

Internal Dispute Resolution

Premium Broker Pty Ltd (Complaints Manager)

Telephone 02 9468 9600

Email complaints@premiumbroker.com.au

Post 549 Willoughby Rd Willoughby NSW 2068

Website www.premiumbroker.com.au

External Dispute Resolution

If you are unhappy with any decision or the handling of a complaint by us, you can refer your complaint to the Australian Financial Complaints Authority (AFCA). AFCA provides a free and independent service to resolve complaints.

Australian Financial Complaints Authority (AFCA)

Telephone 1800 138 422

Website www.afca.org.au

Email info@afca.org.au

Fax 1800 931 678

Post GPO Box 3 Melbourne VIC 3001
AFCA Number 43392

Things you should know

You should ensure that you have approved finance, in writing from the lender, before entering a binding contract to purchase.

It is important you understand your legal obligations under the loan, and the financial consequences. If you have any concerns, you should obtain independent legal and financial advice before you enter into a loan contract.

We do not make any promises about the value or future prospects of any property you finance with us. You should always rely on your own enquiries.

Before you accept your loan offer, make sure you read the credit contract carefully to understand full details of the loan. If you have any doubts, you should obtain independent legal and financial advice before you enter into any loan contract.

We represent lenders and have obligations to them, and in particular, to not provide any information we know is misleading or deceptive. We also have obligations under the law to report any fraud, forgery, or other illegal activities. Before using our services, it is important that you understand that we have these obligations to lenders, and under the law.

Premium Broker Pty Ltd is required to have adequate arrangements in place to ensure you are not disadvantaged by any conflict of interest.

Privacy

Premium Broker Pty Limited ABN 40 105 746 692, Australian Credit Licence 392625 and our related businesses, authorised representatives and credit representatives (‘we’, ‘us’, ‘our’) are collecting personal and financial information about you.

Personal Information

We collect personal information to provide you with the services that you have requested, manage our relationship with you, for the purposes of assessing your application for finance and managing that finance. We may also collect your personal information for the purposes of direct marketing and managing our relationship with you. From time to time we may offer you other products and services.

We may disclose your personal information to third-party marketing and advertising platforms, including providers that assist us to deliver targeted advertising and marketing campaigns. These providers may use that information in accordance with their own privacy policies to provide those services to us. If you would like to opt out of direct marketing material, please contact your credit representative.

The information you provide will be held by us. You appoint us as your agent to act as an “access seeker” to obtain your credit information from any credit reporting body on your behalf and for the purposes of assisting you with your finance application. You authorise us to disclose any credit information we obtain to prospective financiers regarding your finance application. We may use your credit information and any other information you provide to arrange or provide finance and other services.

Exchange of Information

We may exchange the information with the following types of entities, some of which may be located overseas:

• Prospective funders/ lenders, mortgage managers, aggregators or other intermediaries and related parties in relation to your finance requirements.

• Other related and unrelated organisations that are involved in managing or administering your finance such as third-party suppliers, printing and postal services, call centers;

• Staff, employees and contractors of Premium Broker Pty Ltd, accredited brokers, and the employees of outsourcing companies, including related businesses and companies who supply our mortgage broker software. Staff may reside in Australia and overseas, including the Philippines and Serbia. We take reasonable steps to ensure overseas recipients handle your information in accordance with the Australian Privacy Principles.

• Anybody who represents you, such as finance brokers, financial planners, lawyers and accountants;

• Any industry body, tribunal, court or otherwise in connection with any complaint or audit regarding our service;

• Where we are required to do so by law;

• Anyone, where you have provided us with consent;

• Your employer, referees or identity verification services;

• Any organization providing online verification of your identity;

• Any person or business considering acquiring an interest in our business or assets.

Aggregation

Premium Broker Pty Ltd receives aggregation, compliance, administration, technology and related services from Yellow Brick Road Aggregation Pty Ltd (ACL 390261) (YBRA). As a condition of our accreditation with YBRA, we are required to inform you of this relationship and obtain your consent to the following. You consent to us collecting, using, holding and disclosing your personal information and credit-related information to YBRA. You also consent to YBRA collecting, using, holding and disclosing that information for the purposes of assisting with your application for credit, compliance and audit activities, file reviews, accreditation management, commission administration, reporting, dispute resolution, regulatory obligations and the provision of aggregation and related support services.

Use of Technology

We use secure software, including automated tools and artificial intelligence (AI), to help deliver our services. These tools may use personal information such as your identity details, facial images (collected through our identity verification providers), income, employment, assets, liabilities, living expenses, bank statements and transaction data, credit information, property details and the documents you provide.

We use AI and automated tools to prepare content and communications, research loan options, calculate borrowing capacity and serviceability, estimate property values, conduct loan reviews and check our files for compliance. These tools may help us decide which lenders and loan products to recommend to you, how much you may be able to borrow, and whether a loan is not unsuitable for you and in your best interests. Your credit representative reviews these outputs and makes any recommendation to you.

Electronic identity verification uses software to compare your facial image with your identity documents and to check that those documents are genuine. If your identity cannot be verified electronically, your credit representative will verify it manually.

The lenders, valuers and other suppliers we share your information with may also use AI and automated tools, including in making credit decisions. Their use of your information is governed by their own privacy policies.

Consent

You consent to us, and the lenders and suppliers we share your information with, using automated tools and AI systems to collect, store and process your personal information, including facial images and bank statement data, for the purposes of providing you with credit assistance and related services.

• You agree that we may collect and use and disclose your information as specified above.

• You consent to us, and the lenders and suppliers we share your information with, using automated tools and AI systems to collect, store and process your personal information, including facial images and bank statement data, for the purposes of providing you with credit assistance and related services.

• You consent to the collection of your biometric information (facial image and identity documents) for electronic identity verification. You understand an alternative method is available on request.

• You consent to client meetings being recorded and transcribed.

• Consent to provide your personal information to a Credit Reporting Body (CRB).

• We can act as your agent to obtain a report or information about your consumer or commercial credit worthiness from the CRB.

• We may disclose personal information such as your name, date of birth and address to the CRB to obtain an assessment of whether that personal information matches information held by it.

If you do not provide this information, we may be unable to assist in arranging finance or offering other services.

Client Acknowledgment
By accepting the services of Premium Broker, our clients declare that;

• I/ We have read the above information and understand the reasons for the collection of my/ our personal information and the ways in which the information may be used and disclosed, and I/ we agree to that use and disclosure.

• I / We understand that as a condition of our broker's accreditation with Yellow Brick Road Aggregation Pty Ltd (YBRA), my / our personal information and credit-related information may be shared with YBRA for the purposes specified in the Aggregation section above, and I / we consent to this.

• I/We understand and consent to my/our personal information being accessed by staff and service providers located overseas, including in the Philippines and Serbia.

• I/ we have read and understand that the information that I/ we have provided will be shared with related and unrelated businesses as per the company’s privacy policy.

• I/We agree we may receive correspondence via email and relevant marketing information from Premium Broker Pty Limited. If you do not want to receive email, please let the broker know.

• I/ We understand that the parties may cancel or refuse service(s) if information is found to be false or misleading.

• I am/ We are aware that I/ we can access my/ our personal information upon request and if necessary, correct information that I believe to be inaccurate.

• I/We have read and understand the information contained in this Credit Guide & Pricacy Consent