Credit guide
This is the Credit Guide of Creating Abundance Mortgage Brokers ABN 96390076870, Authorised Credit Representative License Number 554394, of The Red Rock Brokers Group Pty Ltd ABN 40 149 728 030, Australian Credit Licence 405961. We are licensed to arrange loans under the National Consumer Credit Protection Act 2009. This Credit Guide is designed to assist you in deciding whether to use the services we offer. 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
All our credit representatives are accredited with a range of lenders. The lenders named below are the six lenders with whom we conduct the most business:
Licensee
Portfolio of over 60 Plus lenders
Our Responsible Lending Obligations to You
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:
1. Make reasonable enquiries about your requirements and objectives;
2. Make reasonable enquiries about your financial situation; and
3. Take reasonable steps to verify that financial situation.
Assess whether Credit will be unsuitable for you , if at the time of the assessment, it is likely that the following would apply at the time credit is 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, within seven years of when we provided assistance to you. This requirement is only triggered if we give you credit assistance. 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.
Our Best Interests Duty (BID) Obligations to You Mortgage brokers are required to act in the best interests of the consumer when providing credit assistance. The law requires us to:
Act in the best interests of the consumer when providing credit assistance;
Give priority to consumers where a conflict of interest is identified when providing credit assistance;
Not accept conflicted remuneration.
Gather and document information about a consumers’ individual circumstances, requirements & objectives;
Educate the consumer to make informed decisions;
Assess relevant products in line with the consumers needs; and those options & the recommendation are presented.
Our Fees and Charges
Depending on the nature of your requirements and the loan you seek we may charge a fee for providing credit assistance. If we do, it will be detailed in a credit quote advising you the maximum amount payable by you to us in relation to credit assistance services we provide to you. 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.
If we assist you with a non-consumer credit contract and you or the lender are in NSW, the law in that State requires that we also tell you that we have commission arrangements relating to this type of credit contract. When we provide you with credit assistance, you may ask us for a reasonable estimate of the commission likely to be received by the credit representative. From time to time, we may receive financial or non-financial benefits from lenders, lessors or others. Some or all of a commission received may be paid to the Credit Representative.
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 Proposal Disclosure Document. You may on request obtain a reasonable estimate of the amount of commission and how it is calculated. Red Rock and your representative may also receive a benefit for referring you to other specialist service providers.
Internal Dispute Resolution
If you are unhappy with our services, please contact us first by contacting our complaints manager on the following:
Phone 0408 408 198 or Email kirstymason@creatingabundancemortgagebrokers.au
Subsequent point of contact
1300 667 694
We will try to deal with your complaint within 45 days. If you are unhappy with any decision or the handling of a complaint by us, you can refer your complaint to our external dispute resolution provider below. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints.
External Dispute Resolution
Please note that an Internal dispute must be lodged prior to contacting AFCA
Authority Telephone Email Post Website
Australian Financial Complaints Authority (AFCA) 1800 931 678
GPO Box 3 Melbourne VIC 3001
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.
Privacy consent
This is the Privacy Consent of Creating Abundance Mortgage Brokers ABN 96390076870, Authorised Credit Representative License Number 554394, of The Red Rock Brokers Group Pty Ltd ABN 40 149 728 030, Australian Credit Licence 405961 and our related businesses, authorised representatives and credit representatives (‘we’, ‘us’, ‘our’) are collecting personal and financial information about you. 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 of 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. If you would like to opt out of direct marketing material, please contact your credit representative. Red Rock Brokers Group Pty Ltd is collecting personal and credit-related information about you.
The personal and credit-related information you provide will be held by us. Personal information may include any sensitive information (including health information) and may include any information you tell us about any vulnerability you may have.
You appoint us your agent to act as an ‘access seeker’ to obtain your credit-related information from a credit reporting body (CRB) on your behalf and for the purpose of assisting you with your application for credit. You authorise us to disclose any credit-related information we obtain, including personal information, to prospective financiers in connection with your application for credit.
3. We may use credit-related information and any other personal information you provide to arrange or provide credit and other services.
4. We may exchange the information with the following types of entities, some of which may be located overseas:
CRBs, including for a credit guarantee purpose;
Persons who provide credit or other products to you, or to whom an application has been made for those products;
Any person or entity who represents you including financial consultants, accountants, lawyers, mortgage brokers, persons holding power of attorney, guardians and advisers; any industry body, government authority, tribunal, court or otherwise in connection with any complaint regarding our services;
Any investors, agents or advisers, trustees, ratings agency or businesses assisting us with funding for credit made available to you or any entity that has an interest in your finance;
Where we are authorised to do so by law, such as under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth), government and law enforcement agencies or regulators;
Any person, including any referrer, where you have provided us consent; any of our associates, related entities or contractors;
Other guarantors or borrowers (if more than one) or borrowers or prospective borrowers of any credit you guarantee or propose to guarantee;
Your referees, such as your employer, to verify information you have provided; any person considering acquiring an interest in our business or assets; and any organisation providing online verification of your identity.
5. You may gain access to the personal information that we hold about you by contacting us. A copy of our full privacy policy can be obtained from our website, by https://www.redrockgroup.com.au/privacy/
Our privacy policy contains information about how you may access or seek correction of the information we hold about you, how we manage that information and our complaints process. By signing this consent, you agree that we may collect, use and disclose your information also as specified below:
• You agree that we may collect and use and disclose your information as specified above. • 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 you consumer or commercial creditworthiness from a 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.
Privacy Policy
Who are we?
‘We’, ‘us’ and ‘our’ refer to Creating Abundance Mortgage Brokers ABN 96390076870, Authorised Credit Representative License Number 554394 of The Red Rock Mortgage Group Pty Ltd ABN 42 111 216 598 Australian Credit Licence 384209. Red Rock Brokers Group Pty Ltd ABN 40 149 728 030 Australian Credit Licence 405961. Red Rock Finance Group Pty Ltd ABN 32 625 420 733. Red Rock Property Group Pty Ltd ABN 18 606 092 013.
Our commitment to protect your privacy
We understand how important it is to protect your personal information. This document sets out our privacy policy commitment in respect of personal information we hold about you and what we do with that information. We recognise that any personal information we collect about you will only be used for the purposes we have collected it for or as allowed under the law. It is important to us that you are confident that any personal information we hold about you will be treated in a way which ensures protection of your personal information. Our commitment in respect of personal information is to abide by the Australian Privacy Principles for the protection of personal information, as set out in the Privacy Act and any other relevant law.
Personal information
When we refer to personal information we mean information from which your identity is reasonably apparent. This information may include information or an opinion about you. The personal information we hold about you may also include credit information. Credit information is information which is used to assess your eligibility to be provided with finance and may include any finance that you have outstanding, your repayment history and any defaults. Usually, credit information is exchanged between credit and finance providers and credit reporting bodies. The kinds of personal information we may collect about you include your name, date of birth, address, account details, occupation, and any other information we made need to identify you. If you are applying for finance we may also collect the ages and number of your dependants and cohabitants, the length of time at your current address, your employment details and proof of earnings and expenses. If you apply for any insurance product through us we may also collect your health information. We will only collect health information from you with your consent.
Why we collect your personal information
We collect personal information for the purposes of assessing your application. 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.
How do we collect your personal information?
Where reasonable and practical we will collect your personal information directly from you. We may also collect and record information when we interact with you in person or over the phone. We may also collect your personal information from credit reporting bodies and from finance brokers and other people such as accountants and lawyers.
Do we disclose your personal information?
We may disclose your personal information:
to prospective funders or other intermediaries in relation to your finance requirements;
to other organisations that are involved in managing or administering your finance such as third party suppliers, printing and postal services, call centres, lenders mortgage insurers, trade insurers and credit reporting bodies;
to associated businesses that may want to market products to you;
to companies that provide information and infrastructure systems to us;
to anybody who represents you, such as finance brokers, lawyers, and accountants;
to anyone, where you have provided us consent;
where we are required to do so by law, such as under the Anti-Money or Laundering and Counter Terrorism Financing Act 2006 (Cth); or
to investors, agents or advisers, or any entity that has an interest in your finance or our business;
other organisations that provide products or services used or marketed by us; or
to your employer, referees or identity verification services.
Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:
(a) the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or
(b) you have consented to us making the disclosure. We may use cloud storage to store the personal information we hold about you. The cloud storage and the IT servers may be located in outside Australia.
Credit information
We may collect the following kinds of credit information and exchange this information with credit reporting bodies and other entities:
credit liability information being information about your existing finance which includes the name of the credit provider, whether the credit provider holds an Australian Credit Licence, the type of finance, the day the finance is entered into, the terms and conditions of the finance, the maximum amount of finance available, and the day on which the finance was terminated;
repayment history information which is information about whether you meet your repayments on time;
information about the type of finance that you are applying for;
default and payment information; and
court proceedings information.
We exchange this credit information for the purposes of assessing your application for finance and managing that finance. This credit information may be held by us in electronic form on our secure servers and may also be held in paper form. We may use cloud storage to store the credit information we hold about you. When we obtain credit information from a credit reporting body about you, we may also seek publicly available information and information about any serious credit infringement that you may have committed. We do not disclose personal information overseas
Notifiable matters
The law requires us to advise you of ‘notifiable matters’ in relation to how we may use your credit information. You may request to have these notifiable matters (and this privacy policy) provided to you in an alternative form. We exchange your credit information with credit reporting bodies. We use the credit information that we exchange with the credit reporting body to assess your creditworthiness, assess your application for finance and managing your finance. If you fail to meet your payment obligations in relation to any finance that we have provided or arranged or you have committed a serious credit infringement then we may disclose this information to a credit reporting body.
You have the right to request access to the credit information that we hold about you and make a request for us to correct that credit information if needed. Please see the heading Access and correction to your personal and credit information, below. Sometimes your credit information will be used by credit reporting bodies for the purposes of ‘pre-screening’ credit offers on the request of other credit providers. You can contact the credit reporting body at any time to request that your credit information is not used in this way. You may contact the credit reporting body to advise them that you believe that you may have been a victim of fraud. For a period of 21 days after the credit reporting body receives your notification the credit reporting body must not use or disclose that credit information.
You can contact any of the following credit reporting bodies for more information:
Direct marketing
From time to time we may use your personal information to provide you with current information about finance, offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company with whom we are associated. If you do not wish to receive marketing information, you may at any time decline to receive such information by telephoning us on 0408408198. If the direct marketing is by email you may also use the unsubscribe function. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.
Updating your personal information
It is important to us that the personal information we hold about you is accurate and up to date. During the course of our relationship with you we may ask you to inform us if any of your personal information has changed. If you wish to make any changes to your personal information, you may contact us. We will generally rely on you to ensure the information we hold about you is accurate or complete.
Access and correction to your personal and credit information
We will provide you with access to the personal and credit information we hold about you. You may request access to any of the personal information we hold about you at any time. We may charge a fee for our costs of retrieving and supplying the information to you. Depending on the type of request that you make we may respond to your request immediately, otherwise we usually respond to you within seven days of receiving your request. We may need to contact other entities to properly investigate your request. There may be situations where we are not required to provide you with access to your personal or credit information, for example, if the information relates to existing or anticipated legal proceedings, or if your request is vexatious. An explanation will be provided to you, if we deny you access to the personal or credit information we hold about you.
If any of the personal or credit information we hold about you is incorrect, inaccurate or out of date you may request that we correct the information. If appropriate we will correct the personal information at the time of the request, otherwise, we will provide an initial response to you within seven days of receiving your request. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal or credit information within 30 days. We may need to consult with other finance providers or credit reporting bodies or entities as part of our investigation. If we refuse to correct personal or credit information we will provide you with our reasons for not correcting the information.
Using government identifiers
If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.
Business without identifying you
In most circumstances it will be necessary for us to identify you in order to successfully do business with you, however, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information, for example, if you make general inquiries about interest rates or current promotional offers.
Sensitive information
We will only collect sensitive information about you with your consent. Sensitive information is personal information that includes information relating to your racial or ethnic origin, political persuasion, memberships in trade or professional associations or trade unions, sexual preferences, criminal record, or health.
How safe and secure is your personal information that we hold?
We will take reasonable steps to protect your personal information by storing it in a secure environment. We may store your personal information in paper and electronic form. We will also take reasonable steps to protect any personal information from misuse, loss and unauthorised access, modification or disclosure.
Complaints
If you are dissatisfied with how we have dealt with your personal information, or you have a complaint about our compliance with the Privacy Act and the Credit Reporting Code, you may contact us on 0408408198.
We will acknowledge your complaint within seven days. We will provide you with a decision on your complaint within 30 days. If you are dissatisfied with the response of our complaints officer you may make a complaint to our External Dispute Resolution Scheme, Australian Financial Complaints Authority which can be contacted on 1800 931 678, www.afca.org.au or GPO Box 3 Melbourne VIC 3001 or the Privacy Commissioner which can be contacted on either www.oaic.gov.au or 1300 363 992.
Further information
You may request further information about the way we manage your personal or credit information by contacting us.
Change in our privacy policy
We are constantly reviewing all of our policies and attempt to keep up to date with market expectations. Technology is constantly changing, as is the law and market place practices. As a consequence we may change this privacy policy from time to time or as the need arises. You may request this privacy policy in an alternative form.
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