Credit Licence Guide

Things you need to know

As a mortgage broker, I choose to always help my clients and act in their best interests. I personally believe that investing in property is something many people can do to become better off. But it’s important to borrow responsibly..

Read my licensee credit guide below to understand more about my services.

My licensee credit guide

The following information forms my licensee credit guide. It provides information about the services provided by my registered Australian company Kudos Property Developments Pty Ltd which also trades as Adept Property Solutions.

The services we provide

Adept Property Solutions is a mortgage broking business that helps people obtain credit products like home loans, investment loans, personal loans and consumer leases.

We are licensed to arrange loans and leases under the National Consumer Credit Protection Act 2009 which regulates the activities associated with lending, leasing and finance broking. Below are some details for your information.

  1. Licence holder:          Kudos Property Developments Pty Ltd, trading as Adept Property Solutions—ACN 007 299 238
  1. Licence number:       385269
  2. Address:                        47 Scotts Angle Road Wattle Glen, VIC 3096
  3. Phone:                            1300 857 288 or 0416 248 333
  4. Email:                               garry@garryharvey.com.au

We will help you choose a loan or lease that is suitable for your purposes. Additionally, we will provide you with information about a broad 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 from the lender of the loan or lease.

If we arrange a loan for you to purchase or refinance real estate, you need to make your own enquiries about the value of the real estate and its potential for future growth. Although we may obtain a valuation, it is for our own use and you should not rely on it.

The lenders we use

We help people get loans and leases from a range of lenders. The six lenders we conduct the most business with are:

  • ANZ
  • BankWest
  • Commonwealth Bank
  • Homeside
  • Citibank
  • Westpac

The information we need from you

Under the National Consumer Credit Protection Act 2009, we have to make sure that when we help you obtain any loan or an increase in the principal amount you borrow or if we help you enter a lease agreement that it is not unsuitable for you.

We need to ask you questions so we can work out whether the loan or lease is not unsuitable. 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.

A loan or lease may be unsuitable if at the time of the assessment it is likely that: 

  • You could not pay or could only pay with substantial hardship;
  • The credit will not meet your requirements and objectives.

For example, say you could only repay a loan or lease by selling your principal place of residence; it would be presumed that the loan would cause hardship unless you could show it would not. That’s why we must ask you to provide a significant amount of information and it’s important that the information you provide is accurate. 

We must provide you with a copy of our preliminary assessment of your credit application if you ask within seven years of us having assisted you.

We provide our services free to you

Adept Property Solutions will not charge you any fees for the services we provide.

About lender’s fees and government charges

When you obtain a loan, the lender may require you to pay a lender’s application fee, valuation fee or government charges and other transaction fees may be charged to you.

Commission may be received and payable by us

We may receive commissions from the lender and lessor that provides a loan or lease to you. These are not fees payable by you. You may ask us for information about a reasonable estimate of those commissions and how the commissions are worked out.

We may receive referrals from a broad range of people or businesses. For example, we may pay fees to real estate agents, accountants, or lawyers for referring you to us. These fees are not payable by you and are generally small amounts and accord with usual business practice. You may ask us for a reasonable estimate of those fees and how they are worked out.

What if you have a complaint?

We aim to help you in all that we do and we endeavour to create a positive relationship with you. If you are ever unhappy with any of our services, we encourage you to let us know.

We believe it is essential for you to be able to deal with a broker who has the ability, authority and proper training to hear and respond appropriately to anything you are unhappy with.

So please know we are here to help in a timely and effective way. Please tell us if you need assistance or would like to provide us with feedback. We encourage you to explain the details of any situation or complaint you may have, verbally or in writing. Here are our contact details:

  1. Phone:         1300 857 288 or 0416 248 333
  2. Email:            garry@garryharvey.com.au
  3. Address:      47 Scotts Angle Road Wattle Glen, Vic 3096

Here's what we'll do

If we ever receive a complaint, we will attempt to promptly help resolve it. We will observe the following principles in handling any complaint:

  • If you wish, you do not have to engage in face-to-face contact, although it may be useful for a satisfactory resolution
  • We expect that the parties involved will make a genuine attempt to promptly resolve any complaint
  • We expect the parties will provide all essential and relevant information, documents, written statements and any other materials that may reasonably be believed to help resolve the complaint
  • We expect the parties will comply with all reasonable requests from another party to provide information within a reasonable time frame
  • If your request cannot be resolved immediately, we will respond to your request within two (2) business days of receiving the complaint. We will keep you informed of the progress of investigations into the matter.

Additional dispute resolution support

If we do not reach agreement in relation to your complaint, you may refer the complaint to an Australian Securities and Investments Commission (ASIC) approved external dispute resolution scheme. The external dispute resolution scheme is a free service established to provide you with an independent means for resolving specific complaints.

Our external dispute resolution provider is Credit Ombudsman Services Limited and here are the contact details:

  1. Free call:      1800 138 422
  2. Phone:            02 9273 8400
  3. Fax:                  02 9273 8440
  4. Email:              info@cosl.com.au
  5. Website:        www.cosl.com.au
  6. Mail:                Case Management Team
  7.                            C-/Credit Ombudsman Service
  8.                            PO Box A252
  9.                            Sydney South NSW 1235