Credit Guide

About Us (“we, us, our”):

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.

Services we provide

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 / 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. Our relationships and alliances with likeminded quality organisations ensure we are positioned to offer the best quality service as well as offering complementary financial services where appropriate.

Our obligations to you

When we provide you with credit assistance, we are legally required to only recommend credit products that are not unsuitable for you.

To enable us to determine which loan products might be suitable for you, we are required to complete a Preliminary Assessment. When we make this preliminary assessment, we will ask you about your requirements and objectives, your financial and personal situation and your ability to repay the loan that you are considering.

In assessing these factors, we are also required to take reasonable steps to verify some of the information you provide us. This verification may include asking you for copies of documents that demonstrate your financial situation (in some cases we may also need to sight original documents) and contacting third parties to assist in verifying the information that you provide.

It is important that the information you provide to us is accurate.

Fees and charges payable by you in relation to our credit assistance

We do not charge you a fee for our credit assistance.

However, our credit representative (lenders) may charge a fee and you may need to pay the financier’s application fee, valuation fees, and other fees. We will communicate any fees when providing you with credit assistance.

How do we and our Brokers get paid?

We are paid commissions by lenders for introducing customers. The lenders we deal with will usually pay us a commission based on the size of loan and the particular loan product you have selected. We will only be paid this commission if your loan is settled and drawn down. We are also paid an ongoing commission by your lender based on the outstanding balance of your loan. Some of the commission we receive will be paid to our Brokers.

The commissions that we are paid by your lender are not payable by you (they are paid to us either directly by the lender or by our Aggregator) and do not alter your interest rate or fees.

At this stage, the amount of commission payable is not ascertainable. As part of the application process, we will provide you with a Credit Proposal Disclosure Document which will include an estimate of the commissions we are likely to receive from the Lender if you decide to proceed with the application and your loan settles, along with details of how that commission is calculated.

Upon request, we can provide you with a reasonable estimate of the commission likely to be received and how the commission is worked out.

We do not have any volume-based commissions or volume-bonus arrangements with lenders.

Non-monetary remuneration or benefits

Brokers may also receive non-monetary benefits, which may include access to tiered servicing programs, conferences, courses, competitions, entertainment benefits, and other forms of hospitality.

Our Brokers have access to training and educational courses or seminars run by lenders, aggregators, and third parties, which are intended to assist our staff in understanding lender products. They may also be members of lender tiered servicing programs which can enable them to receive improved service and other benefits. The value of these benefits is usually unascertainable.

All our conferences and professional development events are held at suitable locations, are primarily educationally focussed, and are aimed at improving consumer outcomes. The ability to attend conferences and access additional educational opportunities is available to all our Brokers and is not based on loan volumes written by a Broker.

Lender 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 list below documents the 6 most commonly used Lenders by my licensee. This does not necessarily reflect all of the financial institutions that my licensee is able to conduct business through. However, if less than six lenders are displayed below, this is a summary of the lenders that my licensee is able to utilise for loan submission purposes

Credit Assessment

If we provide you with credit assistance, you can ask us for a copy of our assessment any time up to 7 years after we provide you with a credit assistance quote. To request a copy please contact us. We will provide you with a copy:

Dispute resolution and complaints

While we aim to deliver the highest quality service, we acknowledge that there may be instances when you are not completely satisfied. If such a situation arises and you would like us to take action, we have established a formal procedure to address your concerns.

Internal Dispute Resolution

If you have a complaint, please reach out to us at complaints@goburrow.com.au or use the phone number provided at the beginning of this document. You can communicate your complaint either verbally or in writing. When doing so, please try to clearly describe the nature of your complaint and include any relevant information or supporting documents that may help us understand and address your concerns more effectively.

External Dispute Resolution

If you are not satisfied with our response or how we have handled your complaint, you may make a formal complaint to our external dispute resolution (EDR) scheme, the Australian Financial Complaints Authority (AFCA), which can be contacted on:

Time limits may apply to complain to AFCA, so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.

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.