"Our commitment is to always provide our customers with the highest standards of knowledge and service."
It is important that you understand the company you are dealing with. Loans Australia Pty Ltd has set out a Customer Charter which outlines the minimum ethical standards to be maintained by all employees.
- Our Commitment to you
- Our Mission
- How Loans Australia Finance Advisors will service you
- Loans Australia Finance Advisors Experience
- Loans Australia Lending Panel
- How Loans Australia is paid
- How do you make a complaint
- How we respect your privacy
By adhering to the Customer Service Charter we believe that we will:
- Provide customers with a high level of confidence and trust in the systems and operations of Loans Australia
- Assist in the building of long-term wealth of our clients via needs analysis and loan selection
- Do everything in our power to ensure all loans settle on time every time
- Always keep customers fully informed throughout the entire lending process
Ensure the reputation and standing of Loans Australia and its employees Loans Australia operates under a Customer Service Charter to ensure:
- Customers fully understand the products and services Loans Australia can provide you
- Customers fully understand the different loan options available to you
- We listen to all questions and provide satisfactory and timely answers
- All phone calls are returned within a minimal timeframe
- Customers remain fully informed throughout the entire loan process
- After settlement we continue to service your needs
- We fully comply with the Privacy Act, and
- We have a thorough complaints resolution process
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Loans Australia was established with the major goal of providing loans and mortgage education products to improve the financial lifestyle of all its clients.
Loans Australia is committed through its processes, systems and education to increase the financial awareness of our clients ultimately aiming to save them thousands of dollars in interest, fees and charges.
Loans Australia is committed to exceeding our client's expectations and achieving best practise standards in all aspects of our mortgage business. We will create customer advocates who will seek our services year after year and also recommend us to their friends and family.
Loans Australia is a Full Member of The Finance Brokers Association of Australia and an Accredited Member of the Credit Ombudsman Service Limited (COSL).
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All Loans Australia advisors are highly trained specialists, committed to best industry practise, who will;
- Ask you a series of questions to correctly identify your requirements. We call this our Client Needs Analysis.
- We will analyse the information obtained and put together a range of options that meet your requirements.
- Explain the differences between the lenders and detail all the fees and costs associated with the loan.
- Once the lender is chosen, the Finance Advisor will help you complete all the paperwork and then submit the loan to the chosen lender. At this stage a Finance Broking Contract must be signed by the client which disclosures exactly what the Loans Australia Finance Advisor will do on your behalf and also outlines how much Loans Australia will be renumerated for this service.
- The Finance Advisor will then keep in regular contact with you throughout the entire approval process. We call this our Loans Transition System.
- Once full unconditional approval is achieved a Client Manager is allocated to you. The Client Manager will guide the loan to settlement liaising with you, your solicitor, the lender and their solicitor. By having a dedicated person specialising in this area we find that loans have a far greater chance of settling on time with all parties being fully informed throughout the entire process.
- After settlement the Finance Advisor will call you one week later to make sure all the accounts have been setup properly, the direct debits are in place and any ATM cards or credit cards have been received. The advisor will also review the product to make sure you fully understand the loan features and operation.
- In the future, your Finance Advisor will review your loan account initially at three months and then on a 12 monthly basis. You will be offered this free service at that time.
- At all times your Finance Advisor will be available to answer your questions, and adjust your loan as you require it.
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All Loans Australia Finance Advisors are highly trained specialists who are accredited with at least one of the leading industry bodies and are covered by a comprehensive professional indemnity policy. A Loans Australia Finance Advisor must have at least three years industry experience before being fully accredited. A Loans Australia Finance Advisor must be degree qualified and studying or have finished studies in mortgage financing or broking. This way you can be assured of being serviced by a professional who has the highest regard for ethics, honesty and integrity. Loans Australia does not employ people from non-financial industry backgrounds.
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As of January 2005, our residential lending panel consists of over 50 lenders, including major and regional banks, international banks, building societies, credit unions, credit co-operatives, private lenders, finance companies, and other financial institutions which provide excellent options for specific requirements. We believe smaller lending panels of 15 to 30 lenders can not truly offer real value and options for most clients, this is why Loans Australia is always on the lookout for new and innovative lenders who can offer something special to our clients.
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Loans Australia does not charge its clients directly for residential mortgage selection and settlement. By saving our lenders time and money and for introducing clients to them, Loans Australia receives a commission fee from our Lender Panel for placing a client with them. Lenders generally pay two types of fees. The first fee is called an upfront commission, which generally ranges from 0.40% to 0.70% and is generally based on the drawn down balance of the loan. For non-standard residential loans the commission could be more. The second fee is called a trailer fee and is approximately 0.25% per annum of the outstanding loan balance. As part of Loans Australia membership of Australian Finance Group (AFG) and Mortgage Australia Group (MAG) and for use of their compliance, research and state of the art IT systems and software capabilities, a portion of the above commissions are kept by AFG and MAG as a subscription for these services. The remainder of the commission is used to cover the expenses of the business, pay employees and build the business.
Loans Australia will charge fees for specialist applications for example, business, commercial, car & equipment financing, personal loans and deposit bonds. If fees are charged by Loans Australia they are disclosed upfront and provided in writing and signed off by the client before proceeding with any application.
Loans Australia fully discloses all fees and commissions as part of our full disclosure policy in a Finance Broking Contract which must be signed before any regulated loan is lodged with a lender.
All benefits paid by lenders to Loans Finance Advisors outside of the above guidelines must be logged in a benefit's register held by Loans Australia. This register can be viewed by contacting Loans Australia.
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If you have any concerns regarding your loan or the service that has been provided to you, please first liaise with your Loans Australia Finance Advisor.
If you are not happy with the resolution, or the way it was handled or have any other issues or complaints please write, fax or email your complaint to:
Compliance Manager
Loans Australia
PO Box 2419
Brighton North Vic 3186
Fax: 1300 855 430
mail: info@loansaustralia.com.au
All our Finance Advisors are members of either the Finance Brokers Association of Australia or the Australian Institute of Mortgage Brokers and abide by their code of practise.
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Loans Australia will require personal information from you in order to assess and then submit your loan to a lender. Other parties in the loan settlement process will also require access to your information. You are welcome to review our privacy policy any time.
We respect your privacy and welcome any enquiries. You can make requests relating to your personal information held by us to:
Privacy Officer
Loans Australia
PO Box 2419
Brighton North Vic 3186
Fax: 1300 855 430
Email: info@loansaustralia.com.au
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