Tenfold Property Finance

Credit Guide

This Credit Guide provides you with the key information that you need to know to make an informed and confident choice when engaging our products and services. This Credit Guide summarises our goals and standards, offerings, fees, and commissions. Please don't hesitate to ask if you need more information or clarification.

This Credit Guide has been prepared by:

Overview

We hold the necessary mortgage broking experience and qualifications in accordance with the National Consumer Credit Protection Act, 2009 to provide you with assistance. We are required to meet specific competency standards relating to educational and professional development. You can be confident that we are held accountable to not only our organisation's high ethical standards and values, but also have a responsibility to maintain the regulatory standards that are set by both Commonwealth and State governments.

Our mission is to ensure we offer our clients the best service and most appropriate products to suit their individual needs through our professionalism and attention to detail. Ultimately, our goal is to ensure applicants are provided with a loan that meets their objectives. We guarantee to listen to your needs and your instructions, ensuring that there is collaborative agreement through each step of the finance application process.

Suitability of Loans to Your Financial Objectives

By law, before entering into a specific credit contract, we are obliged to conduct a Preliminary Credit Assessment to determine what kind of loans would be suitable for you. In consultation with you, we will explore and discuss your financial situation, financial objectives and borrowing needs before we determine which loan product may suit your requirements. The law requires us to:

• Make reasonable inquiries about your requirements and objectives;
• Make reasonable inquiries about your financial situation; and
• Take reasonable steps to verify that financial situation.

The Preliminary Credit Assessment is only valid for 90 days. A copy of the Preliminary Credit Assessment will be available to you on request — this will be available up to 7 years after we provide you with credit assistance.

Lenders and Products

We aim to provide you with information from a range of lenders and products / loans. Once you have chosen a loan that is suitable for you, we will help you obtain an approval. The table below documents the lenders most commonly used by our licensee (AFG). This does not necessarily reflect all of the financial institutions that our licensee is able to conduct business through.

* The above figures are based on the total volume of loans lodged over the past 12 months through AFG. This list does not necessarily reflect all lenders that our licensee is able to conduct business through.

Fees, Charges, Commission and Disclosures

Fees payable by you to third parties: When the credit application (loan) is submitted, you may need to pay the lender's application fee, valuation fees, or other fees that are associated with the loan application process, even if the loan is ultimately unsuccessful.

Fees payable by you to the licensee: If a fee is payable by you, this will be disclosed in a Credit Quote that will be provided to you. If a Credit Quote is not supplied, this will indicate that we do not charge consumers any fees.

Payments received by the licensee: Please take notice that the licensee may receive fees, commissions, or financial rewards from Lenders or Lessors in connection with any finance we arrange for you. These fees are not payable by you. Commissions are paid based on a percentage of the loan balance that is drawn down, which in most cases will be net of any amounts you hold in an offset account. We can provide you with information about a reasonable estimate of those commissions and how the commission is worked out if you require.

Tiered Servicing Arrangements: Through your broker's relationships with lenders they may have access to tiered servicing arrangements. The benefits of this access can include faster processing, better information or greater levels of assistance provided for obtaining loan approval. Your broker will advise you of any tiered service arrangements that are in place with a particular lender at the time recommendations are made. Access to this program is not based solely on the volume of new or existing lending and does not entitle them to any additional commissions outside of what has been disclosed to you.

Other disclosures — benefits or interests: Your AFG broker is prohibited from accepting gifts or inducements over $350. Any benefit greater than $100 and less than $350 will be recorded in a Gifts Register. A copy of your broker's register is available to inspect on request.

Complaints

If you have a complaint about the service that we provide, we encourage you to contact us directly in the first instance to allow us to resolve the matter quickly. If your complaint is not satisfactorily resolved within 5 working days, it will be escalated internally. If you remain unsatisfied, you may contact the Australian Financial Complaints Authority (AFCA):

Things You Should Know

We don't make any promises about the value of any property you finance with us or its future prospects. You should always rely on your own enquiries. We don't provide legal or financial advice. It is important you understand your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.