IMPORTANT DISCLOSURE


Shore Financial brokers follow a specific process:

  1. Shore Financial contacts a borrower. Shore Financial will make enquiries in a borrower’s financial position, requirements and objectives and will confirm that the broker is able to assist the borrower. This call only takes five minutes and can really help with the process of buying a property. Note: At this stage we may collect private information;
  2. Shore Financial arranges an appointment with a borrower, providing a selection and guidance on suitable products for the borrower e.g. six lenders products. Note: This will include us providing you with a Credit Guide, completing a Preliminary Assessment and providing you with a Credit Proposal;
  3. Shore Financial collects the application and supporting documents for the best product selected;
  4. Shore Financial packages up and electronically submits the application directly to the lender;
  5. Shore Financial liaises with the lender and ensures a quick approval is obtained with the least amount of hassle. At this point Shore Financial can also assist your customer with obtaining a deposit bond. Note: Do not exchange on a Contract of Sale unconditionally without a Formal Approval from the lender. Should the lender not formally approve your loan you may lose your deposit;
  6. Shore Financial will coordinate the valuation process and secure formal approval. Note: Once you receive a copy of the formal approval, from the lender, you are in a position to Exchange on a Contract of Sale. We always recommend a customer uses a qualified conveyancer or qualified legal representative to facilitate the exchange on your behalf;
  7. Shore Financial will coordinate the lenders mortgage documents and make sure the loan settles on time. Note: We always recommend the customer seeks independent legal and financial advice;
  8. Loan settles;
  9. After settlement, Shore Financial will contact the borrower and will ask them how satisfied they were with the Shore Financial broker’s service and offer any Shore Financial Services products to e.g. personal risk insurances etc. Note: if you do not want to be contacted by Shore Financial Services you should make your Shore Financial broker aware that you do not wish to be contacted.
Identification Process

Shore Financial have a Compliance Officer who at times will be required to contact you to ensure every borrower, guarantor and mortgagor has completed the correct mortgage compliance processes e.g. has their identification certified in person. This is to ensure compliance with legislation pertaining to Advisers certifying identification before any mortgage is signed.

The process of the compliance officer will be to notify the client via email/call/text e.g. that they will need to have their identification checked in order to process their application. The Compliance Officer will arrange a time that then will meet with the client and sight and photograph the ID.

If you require more information you can contact Alli Walker:

Phone: (+612) 8076 7950

Email: alliwalker@shorefinancial.com.au

Frequently Asked Compliance Questions
Why can’t you tell us what the best deal in the market is anymore?

We commonly receive requests from people who would like to know the lender and the interest rate. Under the new legislation this is simply no longer possible for us to do our job properly without knowing a customer’s full situation and seeing their supporting documents.

This is firstly because it is against the NCCP Act for us to recommend a product without making enquiries and verifying your information, but secondly because we can’t provide accurate advice without this information. There are hundreds of different credit policies which can affect the outcome.

Applying for a home loan is a complicated process and if we do not complete a preliminary assessment correctly then we risk having a loan declined or missing out on the most affordable loan product.

What do I do if I want to make a complaint?

In the rare instance a complaint occurs, please forward your written complaint to:

Managing Director

Shore Financial

Level 3 & 4, 153 Walker Street

North Sydney NSW 2060

or email shorefinancial@shorefinancial.com.au

Alternatively, should they just wish to talk to someone, please have them call Alex Nochar on +612 8045 2555

Where can I find out more information?

By contacting your Shore Financial broker or emailing your questions through to info@shorefinancial.com.au

Or if your query is regarding the National Consumer Credit Protection Act by Contact ASIC.


SHORE FINANCIAL PARTNERS & CUSTOMER REFERRALS


1 October 2010, the new National Consumer Credit Protection Act 2009 (NCCP) legislation regulates the way Shore Financial conducts business. NCCP is legislation, enforced by ASIC, designed to protect consumers and ensure ethical standards in the finance industry through the National Credit Code. The legislation also applies to referrers and requires any person giving credit advice to be licensed.

The legislation permits professionals to enter into an agreement with Shore Financial to refer you to us e.g. Real Estate Agents referring you to Shore Financial. Referrers to Shore Financial are called Shore Financial Partners. Their obligations are below.

Shore Financial Partner NCCP Obligations

The general obligations applied to Shore Financial Partners are as follows:

  • Are restricted in the credit product information they can provide to a consumer;
  • Cannot be banned from engaging in credit activities under State, Territory or Commonwealth law;
  • Cannot charge a fee to the consumer for the referral;
  • Must disclose commissions or other benefits they receive from Shore Financial Home Loans. Detail of these commission are disclosed in this document and made available at the Open House for inspection;
  • The Referrer obtains the consent of the consumer to pass their name, contact details and the purpose for which the credit is sought to Shore Financial Home Loans. Note: consent is inferred when you give an Agent you contact details. Please read and understand the terms of your consent on the displayed ‘Collection Notice’ and contained in this brochure;
  • May not share confidential information;
  • Complies with their Shore Financial Referrer Terms and Conditions;
  • Complies with all relevant laws including but not limited to, Property Stock and Business Agents Act, National Consumer Credit Protection Act, Privacy Act, Spam Act and Do Not Call Act.
Shore Financial Partner Terms & Conditions

If a Shore Financial Partner refers potential borrowers to Shore Financial, they will be deemed to have agreed to the terms below.

  • To be a Shore Financial Partner and to comply with our instructions and the instruction of a lender in relation to any referral;
  • Only engage in credit activities as a referrer incidentally to another business you are carrying on;
  • Not charge a fee to the consumer for the referral;
  • Only inform the consumer that we are able to arrange loans and leases but not specify any particular product and not provide any recommendations or advice concerning loans;
  • Inform the consumer of any commissions or other benefits you may receive;
  • Obtain the consent of the consumer to pass their name, contact details and a short description of the purpose for which the consumer may want the credit or lease;
  • Pass the consumer’s contact details to us within five business days of informing the consumer that we are able to arrange loans and leases but not any specified product; and
  • Not be listed on the ASIC banned or disqualified register.
Shore Financial Partner Commission Rates

Shore Financial generally pays a referrer the following percentages of its commission to a referrer:

Referrer Type Amount Paid
Referrer 15% of the Upfront Commission (average commission $600)
Referrer’s Office or Principal 10% of the Total Commission (average commission $100pa)

Note: Shore Financial Referrer Upfront and Trail Commission vary from lender to lender and by loan amount.

Shore Financial Partner Collection Notice

We store and use your personal information collected from you e.g. at the opens for inspections.

We will also use your personal information to contact you by means of any officer, contractor, employee or agent in relation to property and finance related services, as well as products and services which we believe may be of interest to you and for customer feedback on our services.

 

In providing your personal information you consent to us collecting, storing and using your personal information in the manner set out above and you consent to us disclosing your personal information to our related bodies corporate and each of their officers, contractors, employees and agents who may collect, store and use of your personal information in the manner set out above.

You acknowledge and agree that this consent is effective consent for the purposes of the Do Not Call Register Act 2006, Spam Act 2003, Privacy Act 1988 and National Consumer Credit Protection Act 2009 and is deemed to be for an indefinite period (unless you advise us differently).  If the information is not provided by you, we may not be able to provide an effective service to you.

If you require more information you can contact Managing Director, Shore Financial, Level 3 & 4, 153 Walker Street, North Sydney NSW 2060. Phone: (+612) 8045 2555, or email info@shorefinancial.com.au


PRIVACY INFORMATION


Introduction

We understand how important it is to protect your personal information. The following privacy policy governs the collection and use of your personal information by Shore Financial Pty Ltd, Shore Financial Melbourne Pty Ltd, PPD Finance Pty Ltd, Shore Financial Holdings Pty Ltd, Shore Financial Planning & Insurance Pty Ltd, their related entities, subsidiaries, employees, contractors and the brokers that will assist you (“we”, “us” or “the group”).

This privacy policy explains how we intend to respect your rights to privacy in accordance with the National Privacy Principles contained in the Privacy Act 1988 (Cth).

How we collect personal information

We may collect personal information from you through our call centres, through our brokers, when interviewing you, through our financial kiosks, from our Partners, from our website and from competitions and promotions to which you choose to respond.

We collect personal information about you to enable us to assess your suitability and eligibility for obtaining a home, personal or commercial loan or for the provision of other services. The types of personally identifiable information we may collect include your name, address, telephone number, occupation and financial information.

When we request your personal information, we will endeavor to specify which information we require for our purposes and which information may be provided at your option. You may choose not to supply any optional information requested by us but our ability to assist you may be restricted.

If you give us personal information about another person, you represent that you are authorised to do so and agree that you have obtained consent from that person for us to use and disclose their personal information and that they may access any personal information we hold about them.

How we use your personal information

We use your personal information to assist us in:

  1. Conducting our business. For example, in determining whether you may qualify for a loan;
  2. Completing a transaction to which the provision of that personal information relates, for example, in the completion of loan application forms;
  3. To communicate information about our products and services to you;
  4. For our internal administrative, marketing, planning, product development and research requirements;
  5. To update a third party referrer of your loan on the success or outcome of your loan for commission purposes;
  6. Remarketing using cookies to serve ads based on a user’s prior visits to our website. Users may opt out of Google’s use of cookies by visiting the Google advertising opt-out page (http://goo.gl/5BL8t).

At any time, you may opt out of receiving any communications from us (other than as required for the operation of our business). If you wish to opt out of receiving communications from us, please either contact your broker or our Privacy Officer whose contact details are set out later in this policy.

Your access rights to the personal information we hold

At any time, you may ask us to provide you with a list of the personal information we hold about you, and copies of that personal information. We will endeavor to provide you with the data within 30 days of receiving your request. We may charge you a small fee to cover any administrative costs that we may incur in providing personal information to you.

If you believe for any reason that we are holding inaccurate or incomplete data about you, you may ask us to correct it. We will consider if the information requires amendment. If we do not agree that there are grounds for amendment, then we will add a note to the personal information stating that you disagree with it.

Financial information becomes out of date very quickly and so we will update that information if it is required in any future dealings we may have with you.

We will take reasonable steps to destroy or remove identifying information of your personal information, when your personal information is no longer required for our business functions.

Disclosure of your personal information to others

We may disclose your personal information to our related bodies corporate, our brokers, our approved panel of lenders, service providers and agents that we use in the ordinary operation of our business. For example, if you provide us with personal information to find a suitable loan, we may collect personal information about you and disclose it to our approved panel of lenders or our brokers.

We will only use and disclose your personal information for the purposes that we collected the personal information, such as:

  • Whether you may qualify for a loan;
  • To assist you to locate a suitable loan;
  • For administrative purposes, such as data processing, printing or mailing;
  • To update a referrer of your loan with the general progress of your loan (excluding any sensitive information); and/or
  • For other financial services that we offer that you may require.

If your personal information is disclosed to third parties, these third parties are strictly prohibited from using your personal information for any other purpose. We will only disclose to these third parties that information necessary for them to perform their services. Otherwise, we do not disclose personal information unless we are required to do so by law or regulation.

We are a contractor network and your personal information may be disclosed between Shore Financial and its brokers within the group to facilitate a transaction to which the provision of that personal information relates or to enable us to properly conduct our business within the group.

How we store your personal information

We take all reasonable steps to protect your personal information from misuse, loss, unauthorised access, modification or exposure. We require all our employee, contractors and brokers (representatives) to maintain the confidentiality of customer information.

Access to information stored electronically is restricted to our representatives whose job requires access to the information.

Access to our computer systems is restricted through password protection. If we no longer need your personal information, we destroy or remove the identity information.

Contacting us and feedback

You can make any requests relating to your personal information held by us or any complaints regarding treatment of your privacy by contacting:

Alex Nochar
Managing Director
Shore Financial
Level 3 & 4, 153 Walker Street
North Sydney NSW 2060
Or contact Alex Nochar at alexnochar@shorefinancial.com.au

Changes to this privacy policy

We may change this privacy policy from time to time to comply with new laws or codes of practice which may be developed. We may also change this policy to include any new products or services we may provide from time to time.


COMPLAINTS AND DISPUTE RESOLUTION


Complaints contact person:
Alli Walker
Level 3 & 4, 153 Walker Street
North Sydney NSW 2060
Phone: (+612) 8045 2555
Email: alliwalker@shorefinanicial.com.au

Internal Dispute Resolution (IDR) Process
Shore Financial and its contractors are members of The Credit Ombudsman Service Limited (COSL).

Under the COSL rules, COSL require you to try to resolve your complaints with the member of COSL (Shore Financial) first, through our IDR process.

If the matter is not resolved to your satisfaction through Shore Financial IDR procedures, then you are able to lodge the complaint with COSL for them to consider.

Shore Financial accepts consumer complaints via letter, telephone, fax, in person or by email.

All forms of complaints mentioned above will be registered on a Shore Financial Incident Report Form (complaint form) noting the date of the complaint and a file started in regard to the complaint.

No fee is payable for an IDR service through Shore Financial.

Should a substantive response not be provided to you within 45 days, Shore Financial Complaints Contact Person must give you, the consumer, the reasons for the delay and advise you of your right to lodge a complaint directly with COSL.

In receiving, investigating and deciding on a complaint, and in the recording of information for reporting purposes, Shore Financial will respect your privacy by complying with our obligations under the Privacy Act 1998 (as amended).

Shore Financial IDR Process
The customer completes a Shore Financial Incident Report Form (Complaint form) along with any supporting documentation, and any relevant file information to the Shore Financial Complaints Contact Person.

A letter of acknowledgement will be forwarded to you by the Shore Financial Complaints Contact person.

The matter will be investigated and dependent on the circumstances a resolution provided to you, the consumer by the Shore Financial Complaints Contact person within 45 days.

Any contact made with you, the consumer/s will be recorded in your complaint file and the Shore Financial Complaints Contact Person advised of all communications, including information discussed.

Dependent on the circumstances the Shore Financial Complaints Contact Person will provide one of the following substantive responses to the consumer in 45 days:

  1. Accepted the complaint and, if appropriate, offer redress;
  2. Declined to accept the complaint but still offered redress;
  3. Rejected the complaint.

In the event Shore Financial may not be able to provide a substantive response within 45 days, the Shore Financial Complaints Contact Person will forward the consumer the reasons for the delay and advise the consumer their right to lodge a complaint directly with COSL.

In most circumstances your resolution response by Shore Financial Complaint Contact Person will be written and forwarded to you, stating the reasons for reaching a decision/s. If at any stage of the process you wish to clarify any information, please do not hesitate to contact our Complaints contact person on (+612) 8045 2555 or via email to alliwalker@shorefinancial.com.au

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