About this Credit Guide
This is the Credit Guide of Premium Broker Pty Limited ABN 40105746692, Australian Credit Licence 392625. We are licensed to arrange loans and leases 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.

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Services we provide
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 approval.

Our Associations and Relationships
Premium Broker Pty Limited is accredited with YBR Aggregation Pty Limited, which is a wholly owned subsidiary of Yellow Brick Road Group Limited. Robert Ward is a broker operating under the trading name of Premium Broker Pty Ltd. We source finance from a panel of lenders. The lenders named below are the six lenders with whom we conduct the most business: ANZ, CBA, ING, NAB, Macquarie Bank, Bankwest.

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Best Interest Duty
From 1 January 2021, mortgage brokers are required by law to act in the best interests of consumers when providing credit assistance under the National Consumer Credit Protection Act 2009 (NCCP Act). This means we will always prioritise your interests over our own, consider the benefits, risks, costs and features of relevant credit products having regard to your individual circumstances, and make recommendations we reasonably believe are in your best interests. Details of how this obligation has been applied to your specific circumstances will be set out in your Statement of Credit Assistance.

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Our Responsible Lending Obligations
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. The law requires us to:
•    make reasonable enquiries about your requirements and objectives;
•    make reasonable enquiries about your financial situation; and
•    take reasonable steps to verify that financial situation.

Credit will be unsuitable for you if at the time of the assessment, it is likely that at the time the credit is to be 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 with 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 for it within seven years. This requirement is only triggered if we give you credit assistance.

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Our Fees and Charges
Generally, you are not required to pay any fees or charges for our credit assistance. In some instances, a fee for service may be required. Details of these fees will be set out in a Statement of Credit Assistance. However, 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 before submitting the credit application. Please note 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. When we provide you credit assistance, you may obtain from us a reasonable estimate of the commission likely to be received, directly or indirectly by Robert Ward and its credit representatives.

From time to time, we may receive financial or non-financial benefits from YBR Aggregation Pty Limited, lenders, lessors or others. Some or all of the commission received by YBR Aggregation Pty Limited may be paid to the Credit Representatives.

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Aggregator Commission & Income (including Sponsorship & Volume Based Incentives)
YBR Aggregation Pty Limited (YBRA), is a mortgage aggregator and acts as an intermediary organisation that sits between mortgage brokers and lenders (banks, non-banks, credit unions, etc.). They act as an infrastructure provider, supplying access to lender panels, compliance systems, software, training, and commission management. YBRA negotiate accreditation agreements with a wide panel of lenders and brokers who join the aggregator network gain access to these lenders without needing to set up direct relationships themselves.

Premium Broker Pty Limited operates under YBRA who has relationships with several lenders. YBRA may receive sponsorship, volume-based or other incentives from these lenders. While Premium Broker Pty Limited and/or our Credit Representative do not receive these benefits, they could create a potential conflict of interest. Robert Ward is required to act in your best interests and will recommend a loan based on your needs, not any such arrangements. 

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Loyalty Bonuses
YBR Aggregation Pty Limited may pay Loyalty Bonuses or Commissions to our credit representatives for referring to our Diversification Partners such as Leasing or Conveyancing. Loyalty Bonuses and Commissions may vary between 5% and 25% of professional fees charged by the Diversification Partner. These fees are not payable by you.

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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 Statement of Credit Assistance. Upon request, you may obtain a reasonable estimate of the amount of commission and how it is calculated.
Premium Broker Pty Limited and your representative may also receive a benefit for referring you to other specialist service providers.

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Referral Agents
If you were referred to Premium Broker Pty Limited (or an accredited representative) by a referrer, then you need to know that the National Consumer Credit Protection Regulations contain provision for referrers to be exempt from licensing requirements provided that certain criteria pertaining to the collection and provision of consumer details to registered and or licensed persons are met.

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A Referral Agent
•    will only engage in credit activities incidentally to another business they are carrying on.
•    will not charge a fee to the consumer for the referral.
•    will only inform the consumer that they are able to arrange loans and leases.
•    will not recommend any lending product, nor provide any advice concerning loans or leases.
•    will inform the consumer of any commissions or other benefits you may receive. Premium Broker Pty Limited will also provide this information within our Statement of Credit Assistance.
•    will 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.
•    will 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.
•    will agreed to indemnify Premium Broker Pty Limited to the maximum extent permitted by law from and against all Liabilities which arise from or are causally connected with any (and all) acts, omissions, defaults, representations or statements whether negligent, reckless, innocent or otherwise, directly or indirectly related to or arising as a consequence of the supply of the Services outlined in this credit guide.

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Our Dispute Resolution Procedures
We will try to deal with your complaint within 30 days. If you are unhappy with our services or want more information about our internal dispute resolution procedure, please contact us.

 
Internal Dispute Resolution
Premium Broker Pty Limited (Complaints Manager)
Telephone     02 9468 9600
Email               complaints@premiumbroker.com.au
Post                  549 Willoughby Rd Willoughby NSW 2068
Website           www.premiumbroker.com.au

 
External Dispute Resolution
If you are unhappy with any decision or the handling of a complaint by us, you can refer your complaint to one of our external dispute resolution providers below. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints.

Australian Financial Complaints Authority (AFCA)
Telephone     1800 931 678
Website     www.afca.org.au 
Email    info@afca.org.au 
Post    GPO Box 3 Melbourne VIC 3001

Governing Law and Jurisdiction
All credit assistance provided by Premium Broker Pty Limited is delivered from Australia and governed exclusively by the laws of the States and Commonwealth of Australia. Our services relate solely to Australian credit contracts regulated under the National Consumer Credit Protection Act 2009 (Cth). By engaging our services, you agree that any dispute or claim arising from the credit assistance we provide will be subject to the exclusive jurisdiction of the Australian courts, regardless of your country of residence or the location from which you access our services. If you are currently residing outside Australia, you acknowledge that your rights and obligations under any loan arranged through us will be governed by Australian legislation. We do not advise on the laws of any other jurisdiction and recommend you seek independent legal advice in your country of residence if local legal guidance is required.

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Things you should know
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 a loan contract.

We do not make any promises about the value or 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 any loan contract.

We represent lenders and have obligations to them, particularly to avoid providing any information that 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.

Premium Broker Pty Limited is required to have adequate arrangements in place to ensure you are not disadvantaged by any conflict of interest.