Credit guide.

This Credit Guide provides key information about Finstac Pty Ltd and the credit assistance services we provide, as required under the National Consumer Credit Protection Act 2009 (Cth).

Who we are

Finstac Pty Ltd ABN 75 680 177 806, Credit Representative Number 582083, is authorised under Elders Home Loans Pty Ltd ABN 22 118 064 654, Australian Credit Licence 384408. Finstac Pty Ltd does not hold an Australian Credit Licence itself. We are members of the Finance Brokers Association of Australia (FBAA), membership M-363763.

Your credit representative is Jonathon Radford, Credit Representative Number 582083. You can contact Jonathon at jonathon.radford@finstac.com.au.

What we do

We provide credit assistance: we help you consider and apply for loans offered by the lenders we have access to, more than 100 banks and specialist lenders. Before recommending a loan we will make reasonable inquiries about your requirements, objectives and financial situation, and assess whether the loan is not unsuitable for you. You are entitled to a copy of that assessment on request.

Our duty to you

When we provide credit assistance to you as a consumer, we are subject to the best interests duty under the National Consumer Credit Protection Act. That means we must act in your best interests and, where a conflict arises between your interests and ours, give priority to yours. A lender dealing with you directly is not subject to this duty.

The best interests duty applies to regulated consumer credit assistance. It does not apply to commercial or business lending, which is generally not regulated under the National Credit Code. Where your finance falls outside the regulated regime we will tell you before you proceed, and explain what protections do apply.

Fees and charges payable by you

We may charge a fee for providing credit assistance to you. If we do, the details will be set out in a Credit Quote, which we will give you before we submit your loan application.

You may also have to pay other fees and charges to the lender or other parties, such as application fees and valuation costs. Please review your loan contract documentation for the details of any such fees and charges.

How we are paid

Our licensee receives commission from lenders and then pays us commission for the loans (such as home and investment property loans) for which we act as credit representative in providing credit assistance to you.

An upfront commission is paid by the lender on settled loans. It is calculated as a percentage of the loan amount and is usually paid after settlement. A trail commission is also paid by the lender on settled loans. It is calculated monthly on the outstanding loan balance and paid in arrears.

The upfront and trail commissions we receive from lenders are not payable by you. Details of the commission we will receive will be included in the Credit Proposal Disclosure document we give you when we provide credit assistance.

Referrers and referral fees

We receive referrals from a range of sources, including accountants, financial planners, real estate agents and other people. If you were introduced or referred to us, we may pay the referrer a commission or a fee. Details of any commission or fee paid to a referrer will be included in the Credit Proposal Disclosure document.

If you have a complaint

We want to know if something has gone wrong. Contact the broker looking after you, or us at hello@finstac.com.au or 0475 024 328. If it is not resolved within five working days it is escalated to our licensee's Complaints Officer, Tara Bower (tara.bower@elders.com.au, 08 8425 4034). You will receive a written response within the timeframe set by ASIC Regulatory Guide 271, which for most complaints is 30 calendar days. If you are not satisfied with the outcome, you can take your complaint to the Australian Financial Complaints Authority (AFCA), a free and independent external dispute resolution scheme: afca.org.au · 1800 931 678 · GPO Box 3, Melbourne VIC 3001. Finstac's AFCA membership number is 125785. Full details are on our Complaints and Dispute Resolution page.