C.15 Compliance - Referrals

June 15, 2018


If you receive referrals from a regular source you need to make sure they are aware they are not licenced to give mortgage advice.

1. Referrer’s Acknowledgement - You need to get the referrer to sign an acknowledgement that they are not  licenced to give mortgage advice
This only need to be completed once per referrer.


2. If you intend to pay the referrer we recommend entering into an agreement with the referrer and have a formal agreement available which included the Referrer’s Acknowledgement . This can be created within VowNet.

3. Client’s Acknowledgement – You may ask the client to also acknowledge that the deal came from a referrer and that the referrer is not entitled to offer you mortgage advice.  This is not mandatory - just some extra protection.


4. Commission Disclosure of payments – If you pay the referrer you must let the client know via the Credit Quote and Proposal


Referrer’s Acknowledgement - Example




NCCP Regulations 2010 – Referrers



Dear Referrer,


The National Consumer Credit Protection (NCCP) Regulations 2010 contain provision for referrers to be exempt from licencing requirements provided that certain criteria pertaining to the collection and provision of consumer details to registered/licenced persons are met.


If you refer potential borrowers to Premium Broker Pty Limited (The Company), you will be deemed to have agreed to the terms set out in this document.


You must:


Only engage in credit activities as a referrer incidentally to another business you are carrying on

  • Not charge a fee to the consumer for the referral

  • Only inform the consumer that The Company able to arrange loans and leases but not any particular product, and not provide any recommendations or advice concerning loans or leases

  • Inform the consumer of any commissions or other benefits you may receive

  • 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

  • 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 but not any particular


If you hold your own Australian Credit Licence you able to offer advice under the terms of your own licence.



SIGNED for and on behalf of:

ABN ?? ??? ??? ???


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Premium Brokers are Accredited Members of Vow Financial Pty Ltd and
the Mortgage & Finance Association of Australia.   Premium Broker Pty Limited ABN 40 105 746 692

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Australian Credit Licence 392625