Credit Guide And Credit Quote

FOX FINANCE GROUP CONSUMER DOCUMENTS

We ask you to read this document pack carefully and, if you agree to all the contents, sign and date at the bottom of the final page and return to the Fox Finance Group. The pack contains documents entitled:

• Credit Guide
• Credit Quote

1. Credit Guide Credit Contract

Fox Finance Group Pty Ltd
ABN: 46120502392
ACN: 120 502 392
Australian Credit License 382952
Suite 13, The Corporate Centre, 13 Norval Ct, Maroochydore, Qld, 4558.

What is a credit guide?

A Credit Guide sets out important information about the services that we provide as a licensee broker, any fees and commission payable to us, our responsible lending obligations and our internal and external dispute resolution procedures and how you can access them. We are required to provide this Credit Guide to you as soon as practicable after it becomes apparent that we are likely to provide credit assistance to you.

What is credit assistance?

We provide credit assistance when we:

• Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
• Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
• Suggest you remain in a particular credit contract with a particular credit provider.

Which credit providers do we utilise when providing credit assistance?

We source credit products from a number of banks, lenders and other credit providers. At present, we can write loans with the following (and others not listed) banks, lenders and other credit providers:

• ANZ Bank
• Macquarie Bank
• Liberty
• Latitude Financial Services
• Pepper
• Ume Loans

How will I pay for the credit assistance (broker services) provided by Fox Finance Group?

The credit assistance (brokerage) fee depends on the choice of lender and the extent of work we need to undertake on your behalf and generally from $500 to a maximum of $1,100, calculated at 11% of the amount of funds you need to borrow for your intended purchase. The actual amount will be confirmed in the credit proposal we present to you prior to your acceptance of the credit we have obtained. This fee will be payable only if you accept the loan offer we facilitate and at the time the funds are released by the credit provider and is normally borrowed and included as part of the total amount (the loan principal) in your approved loan contract. No fee is charged if you do not accept the credit proposal. We will provide you with a credit quote containing details of our fees before we provide you with credit assistance.

Such final amount to be calculated at an amount being no more than 11% of the gross amount borrowed.

What information is required to receive credit assistance?

Before we provide you with credit assistance, we are required to complete a Preliminary Assessment. Prior ro making the Preliminary Assessment as to whether or not a credit contact would be suitable for you, the legally required processes involve:

• making reasonable enquiries about your requirements and objectives
• Making reasonable enquiries about your financial situation; and
• Taking reasonable steps to verify your financial situation

This will involve a request for certain documentation and assist us with an understanding of your repayment capacity, over the term of any proposed loans, without your enduring financial hardship”.

What information is kept on my credit file and can I examine my file?

We maintain a record of your personal profile including details gathered as part of our preliminary assessment. You are entitled to request a copy of our Preliminary Assessment, and we must give you a copy if requested. There is no charge for requesting or receiving a copy of the Preliminary Assessment:

• at any time during the first 2 years – we must provide it within 7 business days; or
• between 2 years and 7 years after it was conducted – we must provide it within 21 business days.

Are commissions, fees or other benefits paid to Fox Finance Group by the credit provider?

Commission is payable by the credit provider to Fox Finance Group (or our directors, employees and authorised credit representatives) for assisting you to obtain finance. Commission can include Upfront Commission and Volume Bonus. An estimate of our commissions are:

• An upfront commission ranging from the equivalent of 0% -10% of the amount finance. (i.e.: $10,000 amount financed, commission payable between $0 – $1000)

What is a suitability assessment?

By law, we must not provide you with credit assistance if the credit contract is unsuitable for you. If unsuitable, we cannot:

• Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
• Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider, or
• Suggest that you remain in your particular credit contract with your particular credit provider.

When is a credit contract unsuitable at the time we provide you with credit assistance?

A credit contract will be unsuitable at the time we provide you with credit assistance

• It is likely that you will be unable to comply with the financial obligations under the credit contract; or
• It is likely that you could only comply with the financial obligations with substantial hardship (such as having to sell your principal place of residence); or
• It is likely that the credit contract will not meet your stated requirements or objectives at the time of the assesment and throughout the term of the contract.

We want to ensure that the credit products you select with us are not unsuitable for your needs. Because of this, it is important that you openly and honestly discuss with us your requirements, objectives, preferences, financial situation and repayment capacity.

What should I do if I have a complaint about the Credit Licensee?

If you have a complaint or concern about the service provided to you by the licensee, please contact their Complaints Resolution Manager. As part of the Internal Dispute Resolution policy they will investigate the matter and endeavour to address it as quickly as possible.

Complaints Resolution Manager for Fox Finance Group

Suite 13, The Corporate Centre, 13 Norval Ct, Maroochydore, Qld, 4558.
Ph: 1300 665 906
E: admin@foxfinancegroup.com.au

Our aim is to completely resolve any issues you raise. If, despite our best efforts, you believe your complaint has not been satisfactorily dealt with you can refer your complaint for free to an independent External Dispute Resolution Scheme. We belong to the following external, independent dispute resolution scheme, which can be contacted as follows:

Credit and Investments Ombudsman

Case Management Team
Credit and Investments Ombudsman Service
PO Box 252
SYDNEY SOUTH NSW 1234

Ph: 1800 138 422
Fax: (02) 9273 8440
Web: www.cio.com.au

A copy of CIO’s dispute resolution policy is available at www.cio.com.au or by request to Fox Finance Group.

2. Credit Quote Credit Contract

Fox Finance Group
ABN: 46120502392
ACN: 120 502 392
Australian Credit License 382952
Suite 13, The Corporate Centre, 13 Norval Ct, Maroochydore, Qld, 4558.

What is a credit quote?

This Credit Quote sets out out important information about the credit assistance that we provide as a broker. We are required to provide this Credit Quote to you, and receive your signed acceptance, before we provide any credit assistance to you.

What is credit assistance?

We provide credit assistance when we:

• Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
• Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
• Suggest you remain in a particular credit contract with a particular credit provider.

What are the fees and charges for providing me with credit assistance?

You have requested that we provide you with the credit assistance. The maximum fee payable to Fox Finance Group for this service is $1,100 (including GST). However, if there is an opportunity to in anyway reduce this amount, there may be a reduction in this amount. Fox Finance Group does not pay any amounts in regard to any other charges on the consumers behalf and will not incur charges for matters associated with providing the credit assistance, as we do all the work within the company. You may be charged less depending on the amount of time and effort to obtain your loan. This is a one-off fee and is normally added into your loan. Please note that if your loan application is unsuccessful you will not be charged this fee. The actual amount will be confirmed in the credit proposal we present to you prior to your acceptance of the credit we have identified on your behalf. This fee will be payable at the time the funds are released by the credit provider and is normally included in your new loan.

Where can I find out additional information regarding this quote?

Should you have any questions about the information contained in this Credit Quote, please speak directly to our staff or contact Dan Fox on 1300 665 906.

What do I do if I am ready to receive credit assistance?

To receive credit assistance you simply need to sign below. In doing this you are acknowledging and accepting the maximum fees, associated with us providing you with credit assistance. A fully signed copy of this quote will be returned to you for your records. Once you have signed this quote we will conduct a preliminary assessment. This will enable us to determine if there is a suitable loan for you. If there is a suitable loan for you we will prepare a credit proposal for you to review prior to the Fox Finance Group proceeding with its credit assistance services for you. The credit proposal will contain information on the finalised fees payable for the credit assistance.