Terms & Conditions

 

  1. SECTIONS APPLICABLE TO APPLICANT/S WHO ARE NATURAL PERSON/S Acknowledgment of Disclosure of Credit Information to a Credit Reporting Agency

I/We acknowledge that Section 18E (8)(c) of the Privacy Act and the New Zealand Privacy Act 1993 allows a credit provider(s) which the above-named Introducer may approach in arranging my/our finance (hereinafter the Approached Credit Provider), to give a credit reporting agency certain personal information about my/our application for finance. The Information that may be given to an agency is covered by Section 18E (1) of the Act and the New Zealand Privacy Act 1993 and Includes:

      1. 1. Such permitted particulars about me/us which allow me/us to be identified;
      2. 2. The fact that I/we have applied for finance and the amount;
      3. 3. The fact that the above-named credit provider is a current credit provider to me/us;
      4. 4. Payments which become overdue more than 60 days, and for which collection action has commenced;
      5. 5. Advice that payments are no longer overdue;
      6. 6. Cheques drawn by me/us which have been dishonored more than once;
      7. 7. In specified circumstances, that in the opinion of the above-named credit provider, I/we have committed a serious credit infringement;
      8. 8. That finance provided to me/us by the above-named credit provider has been paid or otherwise discharged.

By virtue of this declaration, I/we understand that the above-named introducer has informed me/us of the disclosure policy to a credit reporting agency of information about me/us by approached credit providers and so authorise such disclosures.

Agreement/Authority by Applicant/Customer for Credit Provider to perform certain permitted actions concerning a finance application or transaction I/We agree that, if it is considered relevant in assessing my/our application for personal credit, the Approached Credit Provider may obtain a report about my/our commercial activities or commercial credit worthiness from a business which provides information about the commercial credit worthiness of persons [Section 18L(4) and the New Zealand Privacy Act 1993]. I/We agree that, if it is considered relevant in assessing my/our application for commercial credit, the Approached Credit Provider may obtain from a credit reporting agency a credit report containing personal credit information about me/us [Section 18K(1)(b) and the New Zealand Privacy Act 1993]. I/We agree that the Approached Credit Provider may give to and seek from any credit providers named in the accompanying finance application and any credit providers that may

be named in a personal or commercial credit report issued by a credit reporting agency or a

commercial credit reporting agency respectively, information about my/our personal or commercial credit arrangements;

I/We understand that this information can include any information about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act [Section 18N(1)(b) and the New Zealand Privacy Act 1993]. Authorisation to Act on Behalf of Individuals

For the purposes of arranging the finance which is the subject of my/our application, the details of

which appear below, I/we authorise the above-named introducer to obtain a report about my/our consumer or commercial credit worthiness from a credit reporting agency or a commercial credit reporting business or from a credit provider named in this application or referred to in such reports [Section 18N (1) (ga) and the New Zealand Privacy Act 1993].

I/We also authorise the above-named introducer to pass on the above-obtained reports to such

credit providers as are appropriate, for their consideration of the application for finance.

I/We also authorise the above-named introducer to give and receive from such parties as are necessary to the arranging of the finance, such personal information about me/us which is necessary to such arrangement or subsequent management.

 

  1. SECTION APPLICABLE TO GUARANTOR/S WHO ARE NATURAL PERSON/S Guarantor Parties Agreement

I/We further agree that the Approached Credit Provider may give to and seek from any credit

providers named in the finance application and any credit providers that may be named in a personal or commercial credit report issued by a credit reporting agency or a commercial credit reporting agency respectively, information about my/our personal or commercial credit arrangements; I/we understand that this information can include any information about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act and the New Zealand Privacy Act 1993.

  1. SECTION APPLICABLE TO APPLICANT/S AND GUARANTOR/S WHO ARE NATURAL PERSONS Acknowledgment by Applicant/Customer and/or Proposed Guarantor about the collection, recording,

use and disclosure of personal information by the Approached Credit Provider

I/We, the Applicant/Customer and/or Proposed Guarantor, acknowledge that:

During the course of assessing the application for finance, the Approached Credit Provider will collect, record and securely store personal information about me/us; and Some of the personal information collected may be obtained from third parties including Credit Reporting Agencies, other credit providers, trade suppliers and public records; and Information about the identity, location and contact particulars of the Approached Credit Provider can be obtained from the above named Introducer Except in limited circumstances, I/we are able to access details of the personal information the Approached Credit Provider holds about me/us by sending a request, either via the above named Introducer or directly to the Approached Credit Provider.

The information is being collected primarily so that the Approached Credit Provider can consider the

finance application; Without the information sought being collected, an Approached Credit Provider will be unable to process the application for finance;

 

  1. OTHER ACKNOWLEDGEMENTS AND CONSENTS

You confirm where you first applied for credit orally, that the above consents were given at that time. You consent to Braid Finance Pty Ltd exchanging information concerning your financial affairs with any person acting on your behalf including your agent, accountant, solicitor or broker.

You acknowledge that Braid Finance Pty Ltd may exchange information with government

authorities as required or authorized by law including the Australian Taxation Office.

You agree that Braid Finance Pty Ltd may use your personal information for marketing purposes to tell you about other related services and products which could suit your needs.

If you do not want this to happen, please tick this box.

You acknowledge that the above authorities and consents will continue until the credit facility provided is repaid in full and the credit facility terminated.

AUTHORISATION TO PROVIDE PERSONAL INFORMATION TO A THIRD PARTY Third Party (Introducer)

I/We agree that the Third Party Introducer that is introducing me to the Broker and Contractors may

disclose some personal information to the Broker which it has received about me/us relating to the progress and ultimate decision by the approached credit and/or insurance providers on my finance and/or insurance application subject to the provisions of the Privacy Act.

This may also include;

      1. 1. The type of facilities which are being considered and/or offered by the Approached Credit and/or insurance providers.
      2. 2. The actual decision on the applications by the Approached Credit and/or Insurance Provider
      3. 3. The reasons supporting any decisions made by the approached credit and/or insurance providers, including such personal information that may have been obtained by the Third Party Introducer, contractors and/or the approached credit and/or insurance providers that has, in the opinion of the Third Party Introducer or Contractors, had any influence on the decision made by the Provid

In providing this authority, I/we acknowledge that the Broker and Contractors have no control over the personal information once it has been passed to the Third Party Introducer, and consequently cannot be held responsible or liable in any way for the use or misuse of the information by the Third Party Introducer or any of its representatives, employees or agents.

Credit Guide and Quote

What is a credit quote?

A Credit Quote sets out important information about the credit assistance and other services that we provide as a broker. We are required to provide this Credit Quote to you, and receive your signed acceptance, before we provide any credit assistance to you.

What is credit assistance?

We provide credit assistance when we:

  1. 1. Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
  2. 2. Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider or;
  3. 3. Suggest you remain in a particular credit contract with a particular credit provide

What are the fees and charges for providing me with credit assistance?

You have requested that we provide you with the credit assistance and other services. The maximum fee payable to Braid Finance for this service $1210 (including GST) which is only payable on settlement of the loan. The maximum fees and charges that will be payable by the licensee to another person on your behalf is $0. Depending on the loan, this may be included as part of the loan package so it isn’t an upfront cash fee. The actual amount will be confirmed in the credit proposal

we present to you prior to your acceptance of the credit we have obtained.

Where can I find out additional information regarding this quote?

Should you have any questions about the information contained in this Credit Quote, please contact our office on 0422 727 596

What do I do if I am ready to receive credit assistance?

To receive credit assistance, you simply need to sign below. In doing this you are acknowledging and accepting the maximum fees, charges and commission associated with us providing you with credit assistance.

Once you have signed this quote we will conduct a preliminary assessment. This will enable us to determine if there is a suitable loan for you. If there is a suitable loan for you we will prepare a credit proposal for you to review prior to completing any transaction. The credit proposal will contain information on the finalised fees, charges and commissions payable for the credit assistance.

What is a credit guide?

A Credit Guide sets out important information about the services that we provide as a licensee   broker, any fees and commission payable to us, our responsible lending obligations and our internal and external dispute resolution procedures and how you can access them. We are required  to provide this Credit Guide to you as soon as practicable after it becomes apparent that we are likely to provide credit assistance to you.

Which credit providers do we utilise when providing credit assistance?

We source credit products from a limited number of banks, lenders and other credit providers. There is a list at the bottom of this document that outlines the lenders, banks and credit providers that we can write loans with.

What information is required to receive credit assistance?

Before we provide you with credit assistance, we are required to complete a Preliminary Assessment. This preliminary assessment makes enquiries about:

‐      Your requirements and objectives for seeking a credit product;

‐      Your financial and relevant personal situation; and

‐      Your repayment capacity.

We may also request documentation in order to verify the information contained in the preliminary assessment, such as pay slips, letter of employment and bank statements.

What information is kept on my credit file and can I examine my file?

We maintain a record of your personal profile including details gathered as part of our preliminary assessment. You are entitled to request a copy of our Preliminary Assessment, and we must give you a copy if requested. There is no charge for requesting or receiving a copy of the Preliminary Assessment:

‐      At any time during the first 2 years – we must provide it within 7 business days; or

‐      Between 2 years and 7 years after it was conducted – we must provide it within 21 business days.

We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information.

Are commissions, fees or other benefits paid to Braid Finance by the credit provider?

When we provide you with credit assistance, we (or our directors, employees and authorised credit representatives) receive commissions from the credit providers involved. When we provide credit assistance to you we may receive upfront commissions and additional commission depending on the total volume of the business we place with the credit provider. We can provide, on request, a reasonable estimate of the commission, fees and benefits and how they are calculated.

Are commissions paid by Braid Finance to other parties?

We may pay a referral fee to people or organisations that refer clients to us who receive credit assistance from Braid Finance. All amounts paid to the referrer are from Braid Finance’s share of the commission and benefits. You won’t pay any additional amount if we pay a referral fee. A referral fee is only paid to the referrer by Braid Finance on settlement of a loan. We can provide, on request, a reasonable estimate of the commission and how it is calculated.

What is a suitability assessment?

By law, we must not provide you with credit assistance if the credit contract is unsuitable for you. If unsuitable, we cannot:

  1. 1. Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
  2. 2. Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider or;
  3. 3. Suggest you remain in a particular credit contract with a particular credit provide When is a credit contract unsuitable?

A credit contract will be unsuitable if:

  1. 1. It is likely that you will be unable to comply with the financial obligations under the credit contract;

or

  1. 2. It is likely that you could only comply with the financial obligations with substantial hardship (such as having to sell your principal place of residence); or
  2. 3. It is likely that the credit contract will not meet your stated requirements or objective

We want to ensure that the credit products you select with us are not unsuitable for your needs. Because of this, it is important that you openly and honestly discuss with us your requirements, objectives, preferences, financial situation and repayment capacity.

What should I do if I have a complaint about the Credit Licensee?

If you have a complaint or concern about the service provided to you by the licensee, please contact their Complaints Resolution Manager. As part of the Internal Dispute Resolution policy they will investigate the matter and endeavour to address it as quickly as possible.

Complaints Resolution Manager

Braid Finance Pty Ltd

11 Jalanga St, Belmont, QLD, 4153

Phone: 0422 727 596

Email: info@braidfinance.com.au

 

Our aim is to completely resolve any issues you raise. If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with you can refer your complaint to an independent External Dispute Resolution Scheme. We belong to the following external, independent dispute resolution scheme, which can be contacted as follows:

 

Australian Financial Complaints Authority

GPO Box 3, Melbourne VIC 3001

Phone:            1800 931 678

Email:             info@afca.org.au

 

 

ACCESS AND CORRECTION

If you would like to know more about:

  1. 1. Personal information that we hold about you; or
  2. 2. Our personal information handling practices; or
  3. 3. Gaining access to the personal information which we hold about you; or
  4. 4. Our handing of personal information about you, please contact our Privacy Officer on the details provided to the bottom on this form.
  5. 5. We can also provide you with a copy of this information for which a fee may be payabl You should let us know if you think any information we hold about you is inaccurate so that we may correct it.

 

Privacy Information Request

Braid Finance Pty Ltd

11 Jalanga St

Belmont, QLD, 4153

 

Schedule of Credit Providers

 

NAME ABN Website
Affordable Car Loans 23 098 491 484 Affordablecarloans.com.au
ANZ Bank 11 005 357 522 Anz.com.au
Aust Premier Finance 54 104 959 435 australianpremierfinance.com.au

Australian Motorcycle and

Marine Finance

29 101 928 670 ammf.com.au
Automotive Financial Services 73 003 622 375 www.automotivefinancialservices.com.au
Axsess Today 603 303 126 www.axsesstoday.com.au
Capital Finance 23 069 663 136 capitalfinance.com.au
Classic Funding Group 84 057 766 551 Classicfg.com.au
Finance One 80 139 719 903 financeone.com.au
Firstmac Asset Funding 50 601 556 647 Firstmac.com.au
Flexi Commercial 93 064 046 046 Flexicommercial.com.au
Get Capital 24 149 390 625 getcapital.com.au
Green Light Auto Finance 39 131 507 474 https://greenlightauto.finance/legal/privacy-policy/
Group and General Finance 87 000 903 257 www.alto.com.au
Liberty (Secure Funding) 25 081 982 872 liberty.com.au
Latitude Financial 54 008 443 810 latitudefinancial.com.au
Macquarie 38 002 674 982 macquarie.com.au
Metro Finance 44 600 674 093 Metrofin.com.au
Money3 63 117 296 143 money3.com.au
Money Place 88 601 061 438 www.moneyplace.com.au
Morris Finance Ltd 70 083 630 139 www.morrisfinance.com.au
Moula 95 164 875 325 www.moula.com.au
New Start Auto Loans 82 127 430 559 newstartautoloans.com.au
Novated Connect  51 163 933 097 novatedconnect.com.au
Now Finance 35 158 703 612 nowfinance.com.au
Pepper Money 56 165 183 317 pepper.com.au
Propsa 47 154 775 667 Prospa.com.au
RACV Finance 82 004 292 291 racv.com.au
Rate Setter 57 166 646 635 Ratesetter.com.au
Society One 44 151 627 977 Societyone.com.au
Silver Chef 33 112 241 522 silverchef.com.au
Selfco Leasing 58 099 591 616 www.selfco.com.au
Thorn Business Finance 66 119 578 817 www.thornbusinessfinance.com.au
TL Rentals 27 071 702 264 www.tlrentals.com.au
UME Loans 25 138 637 064 www.umeloans.com.au
WISR 39 119 503 221 www.wisr.com.au

Mortgage and Personal Loan Lenders

 

Australian First Mortgage 61 079 790 364 www.afm.com.au
ANZ 11 005 357 522 www.anz.com
Bendigo Adelaide Bank 11 068 049 178 www.adelaidebank.com.au
Better Choice 79 095 728 868 www.betterchoice.com.au
Better Mortgage Management 65 089 835 192 www.bettermm.com.au
Bank of Queensland 32 009 656 740 www.boq.com.au
Commonwealth Bank 48 123 123 124 www.cba.com.au
Citibank 88 004 325 080 www.citibank.com.au
Connective Home Loans 51 143 651 496 www.connective.com.au
Heritage Bank  32 087 652 024 www.heritage.com.au
Homeloans.com 55 095 034 003 www.homeloans.com.au
IMB Bank 92 087 651 974 www.imb.com.au
LaTrobe Financial 30 006 479 527 www.latrobefinancial.com.au
Macquarie Bank 46 008 583 542 www.macquarie.com.au
MyState 89 067 729 195 www.mystate.com.au
National Australia Bank 12 004 044 937 www.nab.com.au
St George Bank 33 007 457 141 www.stgeorge.com.au
Suncorp Bank 66 010 831 722 www.suncorp.com.au
Teachers Mutual Bank 30 087 650 459 www.tmbank.com.au
Virgin Money 75 103 478 897 www.virginmoney.com.au
Westpac Bank 33 007 457 141 www.westpac.com