Legal
Credit Guide
This Credit Guide explains who we are, how we are paid, the lenders we work with, and what to do if something goes wrong.
Every bracketed item below must be replaced with Loan Shepherd’s actual licensing details, and the whole document reviewed by your licensee or aggregator’s compliance team, before this page goes live.
This Credit Guide is issued by Loan Shepherd Pty Ltd trading as Loan Shepherd, ABN 12 700 380 025, of 148 Merthyr Road, New Farm QLD 4005.
We are a Credit Representative, number [CREDIT REPRESENTATIVE NUMBER — TO BE CONFIRMED], of LMG Broker Services Pty Ltd, ABN [LICENSEE ABN — TO BE CONFIRMED], Australian Credit Licence 517192.
About this guide
The National Consumer Credit Protection Act 2009 requires us to give you this document. It tells you the key things you should know about us before we provide credit assistance — that is, before we suggest a particular credit product or help you apply for one.
The lenders we work with
We have access to a panel of more than 60 lenders, including major and smaller banks, credit unions, and non-bank and specialist lenders. We are not able to compare every lender or every credit product available in the market, and our panel is subject to change and to individual accreditation.
The six lenders we have placed the largest proportion of business with in the last financial year are: [TOP SIX LENDERS BY VOLUME — TO BE CONFIRMED].
A full list of the lenders on our panel is available on request.
How we are paid
We are generally paid by the lender, not by you. When a loan we arrange settles, the lender typically pays us an upfront commission, and may pay an ongoing trailing commission for as long as the loan remains open.
Commission amounts vary between lenders and products. Indicative ranges: upfront commission of [UPFRONT RANGE — TO BE CONFIRMED] of the loan amount, and trail commission of [TRAIL RANGE — TO BE CONFIRMED] per annum of the outstanding balance. You can ask us for the actual amounts payable in relation to your loan, and we will disclose them to you before you apply.
[FEES CHARGED TO CLIENTS — state whether any fee is charged to the client, and if so how it is calculated and when it is payable — TO BE CONFIRMED]
We may pay a referral fee to a person who refers you to us. If that applies to your matter we will tell you.
Our obligations to you
Before we provide credit assistance we must make reasonable enquiries about your requirements, objectives and financial situation, take reasonable steps to verify your financial situation, and assess whether the credit contract is not unsuitable for you.
A loan will be unsuitable if you could not repay it without substantial hardship, or if it does not meet your requirements and objectives. You can ask us for a written copy of our assessment at any time before you enter the credit contract, and we must give it to you free of charge.
Documents we will give you
- This Credit Guide.
- A Credit Proposal Disclosure, setting out the loan we propose, the fees you will pay, and the commission we expect to receive.
- The Credit Guide of LMG Broker Services Pty Ltd, our licensee.
If you have a complaint
Step one — talk to us
Please raise it with us first. Contact us on 0408 372 766, by email at admin@loanshepherd.com, or in writing to 148 Merthyr Road, New Farm QLD 4005. We will acknowledge your complaint promptly and respond within the timeframes required by law.
Step two — our licensee
If we cannot resolve it, you can raise the matter with LMG Broker Services Pty Ltd at [LICENSEE COMPLAINTS CONTACT DETAILS — TO BE CONFIRMED].
Step three — external dispute resolution
If you are still not satisfied, you can take your complaint free of charge to the Australian Financial Complaints Authority (AFCA), our external dispute resolution scheme. AFCA provides fair and independent financial services complaint resolution.
- Online: afca.org.au
- Email: info@afca.org.au
- Phone: 1800 931 678 (free call)
- Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
Our AFCA membership number is [AFCA MEMBERSHIP NUMBER — TO BE CONFIRMED].
You may also contact the Australian Securities and Investments Commission (ASIC) on 1300 300 630, or the Australian Financial Security Authority, for general information about your rights.
Professional memberships
We are a member of [MFAA OR FBAA — TO BE CONFIRMED], membership number [MEMBERSHIP NUMBER — TO BE CONFIRMED].
Your privacy
How we collect, use and protect your personal information is set out in our Privacy Policy.