ASK IF YOU WANT MORE DETAILS

Transcription

1 FACT FIND Borrowers Please Note If you repay your loan early you may have to pay fees. Before you sign your loan contract, make sure you understand what fees are payable on early repayment, as sometimes these fees are quite large. Examples: If you take out a fixed rate loan, break cost fees may be payable. For all loan types, loan repayment fees or deferred (postponed) establishment fees may be payable. There may also be other fees such as a discharge fee and legal fees. ASK IF YOU WANT MORE DETAILS In accordance with The Privacy Act 1988 and National Consumer Credit Protection Act 2010 this document provides you with the information necessary to make an informed decision before proceeding to appoint Western Force Finance Applecross CACR No: to act on your behalf for the purpose of securing finance Western Force Finance Applecross is a Corporate Authorised Credit Representative of Western Force Finance Pty Ltd ACL No: this business is independently owned and the Western Force Finance name is used under licence from Western Force Finance Pty Ltd

2 STEP 1 MAKE REASONABLE ENQUIRIES Borrower(s) and Guarantor(s) details Borrower 1: Full name Address Phone Employer Previous employer (if current employer less than three years) Borrower 2: Full name Address Phone Employer Previous employer (if current employer less than three years) Guarantor: Full name Address Phone Employer Previous employer (if current employer less than three years) Borrower s requirements and objectives Example: Purchase property at 123 Road Street Suburb for $123,000 as principal place of residence. Have access to redraw and minimum payments for first three years.add loan amount interest rate applicable repayments either P&I or Interest only, term Interest rate: A higher interest rate may apply if the loan is in default. If there is a general increase in market interest rates, the rate will be correspondingly please note these are approximation and the final assessment will be noted in the lenders agreements before signing please check details Page 2 of 13

3 Loan amount $ Interest rate applicable: Term: Repayment $ P&I Repayment $ Interest only (term ) Objective Purpose requirements Refinancing and Consolidating Debts If refinancing or consolidating debts, please provide details of the debts and the resulting benefit for the client Amount required to repay existing loans and related transaction costs (refinances only) Payout figure approximately $ Costs approximately $ Total $ Borrower(s) income/outgoings (Repeat for additional borrowers and guarantors if required). Complete using the style you use for loan applications. Use this information to assess money available for loan servicing. Item Income after tax Item Mthly Expenses Page 3 of 13

4 Borrower(s) assets/liabilities (Repeat for additional borrowers and guarantors if required). Complete using the style you use for loan applications. Use this information to assess the borrower s overall financial situation and financial sophistication, and to assist in reviewing the borrower s requirements and objectives. Asset Value liability Amount STEP 2 TAKE REASONABLE STEPS TO VERIFY The financial information in this document has been verified using the following evidence. PAYG slips Tax returns Income tax returns Loan statements Other (specify) STEP 3 Information about us and the services we provide Broker s details ("we/us") Licensee s name and address: Credit representative s name and David Whangapirta Western Force Finance Pty Ltd ACL Level 4-81 St Georges Terrace Perth WA Page 4 of 13

5 address: [IF ANY] Nature and range of services Listy Investments Pty Ltd ACN ACCR David Whangapirita ACR of 58 Hulme Court Myaree WA We will help you choose a loan which is suitable for your purposes. We will provide you with information on a broad range of lenders and loans. Once you have chosen a loan that is suitable for you, we will help you obtain an approval. (List of Panel of lenders is attached with schedule of commission payments) List of Panel of Lenders (commission % paid to us by lenders) We source loans from a panel of lenders. Our current panel comprises the lenders listed in the Schedule. These lenders do not necessarily represent all the lenders who offer credit of the nature you seek. When you have already chosen a lender and a loan, we will assist you obtain an approval. Fees payable by you Fees that may be paid by you Fees may be payable if you do not take up the offer We do charge a fee for our services $399, in addition we are paid commission by the lender. You also must be aware, you may need to pay the lender's application fee, valuation fees, or other fees. If we successfully obtain approval for the loan you require, you must pay us $XXX/XXX% of the loan amount approximately only. This is payable on the earlier of 30 days after we obtain approval or when you draw down the loan. Normally, this amount can be paid from the loan proceeds. If you proceed with the loan, no fee is payable by you. If approval is obtained and you do not borrow that loan within 40 days of approval, you must pay us $XXX/XXX% of the loan amount 50 days from the approval date. Page 5 of 13

6 STEP 4 -ASSESSMENT This assessment is valid for 90 days from the date below. Having regard to the information above, I make a (preliminary) assessment that the following product is not unsuitable for the borrower(s) and is appropriate finance for the borrower(s). [INSERT DETAIL OF PRODUCT] Dated: / / Signature of broker. Name of broker (print) Applicant Name Applicant Name Signature Signature Page 6 of 13

7 PRIVACY & CONSENT FORM FOR ORIGINATORS Western Force Finance (WFF) PRIVACY DISCLOSURE STATEMENT AND CONSENT that WFF is collecting personal information about you to provide you with our borkers services. The information is required to assist you in preparing the loan application, and locating an appropriate lender.this notice is to confirm you of your rights under the Privacy Act. The information you provide will be held by WFF. You can gain access to the information we hold about you by contacting us at 58 Hulme Court Myaree or on We may use the personal information you provide for the purposes of providing credit and for direct marketing of products and other services offered by WFF or an organization we are affiliated with or represent. You have the right to request not to receive direct marketing material. We may disclose personal information about you to any organization involved with providing credit to you, or any other associates or contractors of WFF, including, for example, statement printing houses, mail houses, lawyers, accountants or people considering acquiring or taking an interest in our business or our assets. If you do not provide your personal information we may be unable to assist in arranging a loan. I/We agree that WFF may collect and use our personal information as specified above. Print Names.... Signature Signature.... Date Date Page 7 of 13

8 Mortgage and Debt Protection WFF recommend all clients review at least their mortgage and debt cover upon taking out a new loan. Due to a large number of different products in the market place, we recommend you discus the different options available with your current insurance broker. Alternately we would be happy to refer you to an affiliated financial Advisor. Disclosure: please note David Whangapirita is an Authorised Representative of Wealth today Which services would include some of the following Mortgage and Debt review Superannuation review Wills and estate review Investment advice Insurance Reviews (Life, TPD, Trauma, Income protection) We can arranged a free meeting for all our eligible clients Would you like to make an appointment? Yes/No Your Name: Phone Number: Signature: Date: Disclosure: Please note WFF receives no fee for this referral Page 8 of 13

9 Appointment letter We/I Of Date:... / / We/I wish to appoint David Whangapirita of WFF as our preferred mortgage advisor David has outline our new home loan structure and we/i are completely satisfied with the new mortgage arrangement. David has also mention that if we/i discharge this new mortgage depending on the bank in questions policy, he will have his upfront commission clawed back from the lender we have chosen, therefore because of this we/i agree to refund this fee equal to the amount being clawed back if we discharge within this period We understand that this clause varies from lender to lender We/I are completely happy to do this as we understand his work ethics and trust his integrity Complaints Policy If you have a complaint about the service provided to you by us, you should contact: Firstly, your personal loan consultant If no satisfactory resolve, then David Whangapirita of Western Force Finance Pty Ltd on (08) If no satisfactory resolve, then The Credit Ombudsman Service Limited on (02) or Regards Name: Name Signiture:.. signature:.. Page 9 of 13

10 AUTHORITY / ACKNOWLEDGEMENT AND DISCLOSURE FORM I/We... Of... Authorise WFF in accordance with S.18N (1) (ga) of the Privacy Act 1988 to obtain from a) Credit Reporting Collecting Agency A credit report on me or information derived from a credit report or other information concerning my credit worthiness, credit standing, credit history and credit capacity ( credit information ) for the sole purpose of furthering my/the borrower(s) application for house finance ( application ). This authority further authorizes the Agent to disclose credit information to any joint borrower with me or where I am guarantor to the borrower(s). No other uses or disclosures of the credit information are permitted. b) This also is Acknowledgement that I/We have been made aware that WFF is receiving a fee from the bank for preparing and administering the application, and we have viewed the attached lenders commission payment structure, and we are aware that part of this fee may be passed on to the referrer,. I/We agree to the disclosure of relevant personal particulars and details of the loan to the Agent for commission purposes. I/We also agree to the Agent receiving a copy of any letter of offer/credit contract issued by the Bank to me/us/the borrower(s). I/We acknowledge that there is no additional cost to me/us for this service than if I/We applied direct to the bank. We also acknowledge that WFF will not be responsible and or liable for any fee due to late settlements c) We/I also acknowledge we are satisfied with the bank and product of which WFF have selected for us. d) We have been advised that WFF is a member of the credit ombudsman service (EDR) we have received the contact information for our use if required. Refer to appointment above e) Western Force Finance have also disclosed they pay a fee directly to Builders and or Real Estate Agents that refer business to them Applicant 1: Signature: Date: Applicant 2: Signature: Date: Page 10 of 13

11 Lenders Commission payment schedule Institution Upfront Commission Trail Commission Institution Upfront Commission Trail Commission Adelaide Bank 0.550% 0.165%pa ING 0.165%pa AMP 0.187%pa Keystart Home Loans ANZ 0.687% LaTrobe Home Loans Aust.First Mortgage 0.770% 0.150%pa Liberty Financial 0.500% 0.250%pa Bankwest 0.550% 0.275%pa Mortgage Ezy 0.700% 0.500%pa Citibank Commonwealth Bank FastLend First Mac Homeloans Ltd Homeside Lending ilending 0.770% % 0.770% 0.700% 0.715% 0.715% 0.600% 0.275%pa Yr %pa up to 0.385%pa 0.150%pa National Aust.Bank Resimac Pepper home Loans Police & Nurses St George Suncorp Westpac 0.770% 0.550% 0.550% NIL 0.275%pa up to 0.275%pa Yr %pa Valid as at 1 July 2010 including GST at 10% To ascertain the amount of commission forward to WFF follow this process Select the lender UPFRONT Multiply the loan amount by the upfront commission stated next to the relevant lender (this is the upfront commission paid to us by the lender) TRAIL (ongoing) Multiply the loan amount by the trail commission stated next to the relevant lender divide by 12 (this is the amount paid to us by the lender on a ongoing basiss) Page 11 of 13

12 Date Client Name: Page 12 of 13

13 Comments Page 13 of 13