We are OwnHome Finance Pty Limited ACN 673 239 604 Australian Credit Licence 555197. We are licensed under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act).
We manage loans made by your lender, OwnHome Lending Pty Limited ACN 664 515 842, and we are the Manager under your loan contract.
We are licensed to provide loans under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act). The NCCP Act regulates the activity of lending, leasing and finance broking.
This document provides information about the loans provided by us.
We will need information from you
Under the NCCP Act, we are obliged to ensure that any loan, lease, or principal increase to a loan we arrange for you is not unsuitable. To determine this, we need to ask you questions in order to assess whether the loan, lease or principal increase is not unsuitable for you. 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 your financial situation.
Credit will be unsuitable if at the time of the assessment, it is likely that at the time the loan, lease or principal increase is made:
- you could not pay or could only pay with substantial hardship; or
- the credit will not meet your requirements and objectives.
For example, if you could only repay the loan by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason we must ask you to provide a significant amount of information. It is therefore very important that the information you provide to us is accurate.
If you ask for a copy of our assessment before we enter into a credit contract with you or increase your credit limit, we will provide you with a written copy of the assessment before the contract is entered into or the credit limit is increased.
If you ask for a copy of our assessment within the first 2 years of the date of the credit contract or credit limit increase, we will provide you with a written copy of our assessment within 7 business days. If you ask for a copy of our assessment after 2 years but within 7 years of the date of the credit contract or credit limit increase, we will provide you with a copy within 21 business days. We are only required to give you a copy of the assessment if you enter into a credit contract or the credit limit is increased.
In all cases, the assessment will be provided to you free of charge.
Our internal dispute resolution scheme
We hope you are delighted with our services, but if you have any complaints, you should notify us by contacting our Complaints Officer by:
- phoning 1300 056 667;
- emailing support@ownhome.com; or
- writing to 52 Kellett Street, Potts Point NSW 2011; or
- by speaking to any representative of our business who will refer you to the Complaints Officer.
You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing. When we receive a complaint, we will attempt to resolve it promptly.
Our external dispute resolution scheme
If we do not reach agreement on your complaint, you may be able to refer the complaint to the Australian Financial Complaints Authority (AFCA) scheme, which can be contacted:
- by phoning on 1800 931 678;
- by email at info@afca.org.au; or
- in writing to GPO Box 3, Melbourne VIC 3001.
See www.afca.org.au for more information about AFCA.
The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints. You can obtain further details about AFCA and obtain details of our privacy policy on request.
Things you should know
If we arrange a loan for you to purchase or refinance real estate, you should make your own enquiries about the value of the real estate and its potential for future growth. Although we may obtain a valuation, that is for our own use, and you should not rely on it.
You should ensure that you have approved finance before entering a binding contract to purchase.
We don’t provide legal or financial advice unless specified in a separate contract. It is important that you understand your legal obligations under the loan and the financial consequences.
Before you accept your loan offer, make sure you read the credit contract/loan agreement carefully to understand full details of the loan. If you have any doubts, you should obtain independent legal and financial advice before you enter any credit contract.
Questions?
If you have any questions about this Credit Guide or anything else about our services, just ask at any time. We’re here to help you. You can contact us:
- by phone on 1300 056 667;
- by email at support@ownhome.com; or
- in writing to 52 Kellett Street, Potts Point NSW 2011.