CREDIT GUIDE & PRIVACY POLICY

CREDIT GUIDE

Thank you for considering doing business with Stellou Pty Ltd.  We are a Representative of a licensed provider of credit assistance under the National Consumer Credit Protection Act 2009.  This document provides you with information about us, our Licensee with whom you are dealing and the services we provide.

Licensee’s business name QED Credit Services Pty Ltd
ACN 147 272 295
Licensee’s address Unit 7, 27 – 29 South Pine Road, Brendale  Qld  4500
Licensee’s phone number 1300 817 662
Licensee’s email address admin@qedrisk.com.au
Australian Credit Licence number 387856

Our Licensee has authorised Stellou Pty Ltd and Phoebe Blamey as their Credit Representative:

Representative’s business name Stellou Pty Ltd ACN 122 593 426
Representative’s name Phoebe Blamey
Representative’s address Unit 3, 529 Burwood Road, Hawthorn VIC 3122
Representative’s phone numbers Mobile:                0410 692 709
Office:                  03 9998 2615
Representative’s email address phoebe.blamey@cloversolutions.com.au
Business AFCA number 52860

Business Credit Representative number
Individual Credit Representative Number

397021
398925

Our Licensee has authorised Stellou Pty Ltd and Daisy Stevens as their Credit Representative:

Representative’s business name Stellou Pty Ltd ACN 122 593 426
Representative’s name Daisy Stevens
Representative’s address Unit 3, 529 Burwood Road, Hawthorn VIC 3122
Representative’s phone numbers Mobile:                0401 981 169
Office:                  03 9998 2615
Representative’s email address daisy.stevens@cloversolutions.com.au
Business AFCA number 52860

Business Credit Representative number
Individual Credit Representative Number

397021
392535

If you are looking for consumer credit products, our role is to help you find a product that suits you.  That process involves talking to you to understand your requirements and objectives in seeking credit, as well as understanding your financial position.

OUR ASSISTANCE PROCESS

We are required by law to ensure that any credit product with which we assist you can be deemed “not unsuitable” for you.  In simple terms, this means that the product fits your needs and that you can afford to meet the financial repayments.

To establish this, we need to:

  • make enquiries with you as to your needs;
  • make enquiries with you as to your financial position; and
  • collect evidence from you to verify your financial position.

Once we have done this, we will then use our broking expertise to find a product in the market place that you can afford and that meets your needs.

WITH WHAT PRODUCTS DO WE PROVIDE ASSISTANCE?

In the past 3 months, the top 6 lenders that our clients have been placed with are:

  1. Bank of Melbourne
  2. ANZ
  3. Pepper
  4. Suncorp
  5. Bankwest
  6. NAB

This is not to say that we will only deal with these lenders, it is simply that the products these lenders offer have been most suitable to our most recent clients. Your case may be different and we would look at your needs separately and independently of the above list.

HOW DO OUR CREDIT REPRESENTATIVES GET PAID?

Our Credit Representatives are paid a commission directly from the lender.  The lender may pay them a percentage amount upon settlement of your loan and may also pay them an ongoing percentage amount for the life of your loan.

These amounts are paid to the Credit Representative by the lender and ARE NOT payable by you.  If you are interested and want an estimate of what the commission payment will be and how it is worked out, please just ask us or our Credit Representative and we will be only too glad to provide you with this information.

WHAT IF YOU ARE NOT HAPPY WITH OUR SERVICES?

At Stellou Pty Ltd, we always work hard to build strong and lasting relationships with our valued customers.  By listening to your feedback, not only can we address any immediate concerns you may have, we will also continually improve our products and services.

We know there are times when you may wish to compliment us on something we have done well and other times when you may wish to tell us we have not met your expectations.

If, for any reason, you do not feel that you have received the highest standard of care from us, we encourage you to share this with us.  We have developed a process that we believe makes it easy for you to tell us of your concerns and for them to be addressed quickly and fairly.

You can contact us by whichever of the following means best suits you:

Complaints Manager
QED Credit Services Pty Ltd
PO Box 5178, Brendale  QLD  4500
admin@qedrisk.com.au
Phone: 1300 817 662

If you choose to contact us by mail or email, please make sure you provide as much detail as possible about your complaint.

We will try to deal with your complaint on the spot.  However, if this is not possible, we will write to you to acknowledge your complaint within five (5) days.  We will ensure we treat you fairly and will work to resolve your complaint as soon as possible.  In the rare event we are still investigating your complaint after 45 days we will write to you to explain why and to let you know when we expect to have completed our investigation. When we have completed our investigation, we will write to let you know the outcome and the reasons for our decision.

TAKING IT FURTHER

We hope that you will be satisfied with how we deal with your complaint.  However, if your concerns remain unresolved, or you have not heard from us within 45 days, then you can have your complaint heard by our external disputes resolution scheme (EDRS), AFCA, an independent party.  You can contact AFCA at:

Australian Financial Complaints Authority
GPO Box 3, Melbourne VIC 3001
T: 1800 931 678

W: www.afca.org.au

E: info@afca.org.au

 

 

FEES AND CHARGES

FEES PAYABLE FOR THE PROVISION OF CREDIT ASSISTANCE

We may charge a fee for providing credit assistance. More detail about those fees will be set out in a quote we will give to you before we provide you with credit assistance.

FEES PAYABLE IN RELATION TO ACTING AS A CREDIT REPRESENTATIVE

We may receive remuneration from our employer, QED Credit Services Pty Ltd and/or Broker Group and do not charge you any fees or charges in relation to acting as a credit representative.

The maximum amount of fees and charges that you will be required to pay us is set out below.

Fee or Charge Payable to Payable for When payable Method of Calculation Amount (GST inclusive)
Maximum amount of fees and charges payable for our credit assistance
Commission Clawback Fee Clover Solutions Credit advice and assistance If a lender requires repayment of commission paid as loan has been paid out within 2 years Flat Fee $3,500.00
Maximum amount payable $3,500.00
Maximum amount of fees and charges payable for matters associated with the provision of credit assistance
Discharge of Mortgage Clover Solutions Managing mortgage discharge process On settlement booking Flat Fee $660.00
Bridging Finance Clover Solutions Managing bridging finance On Settlement Flat Fee $1,100.00
Substitution of security Clover Solutions Managing portability of a loan On Settlement Flat Fee $660.00
Top Up / Switch Clover Solutions Managing increase On Settlement Flat Fee $250.00
General Administration Clover Solutions Managing Loan Application On Application Flat Fee $550.00
Loan Arrangement Clover Solutions Managing Loan Process On Application Flat Fee $1,100.00
Owner Builder Admin Fee Clover Solutions Managing Owner Builder Loan On Settlement Flat Fee $2,500.00

 

CLAWBACK OR REFINANCE

In the event that your loan is paid out and refinanced via an external credit provider within two years of the loan being taken out some lenders will clawback commissions. Clawback conditions vary. In the event we receive any clawback commissions the amount clawed back will be passed on to you.

OTHER FEES AND CHARGES

You may have to pay other fees and charges (such as an application fees, valuation fees and other fees) to the lender, lessor or other parties. You should review the disclosure documents and your loan contract or lease for further details of any such fees and charges.

COMMISSIONS

COMMISSIONS WE RECEIVE FROM OUR LICENSEE

QED Credit Services Pty Ltd has appointed our Broker Group as its agent to receive commissions from lenders and lessors and to pay us commission in relation to loan contracts or leases for which we act as a credit representative and provide credit assistance. The total amount of commission we may receive in relation to your loan or lease may vary depending on the lender or lessor, the term, the features, the amount of the loan or lease you ultimately choose and the amount and timing of the repayments that you make.

Loan Contracts such as Home Loans, Investment Property Loans and Personal Loans

Upfront commission payable by lenders in relation to home loans and investment property loans is calculated as a percentage of the loan amount and is generally in the range of 0% and 7.49% of the loan amount.  It is usually paid after settlement of the loan.

Trail commission payable by lenders in relation to home loans and investment property loans is generally calculated regularly (monthly, quarterly, bi-monthly or annually) on the outstanding loan balance and is paid in arrears. The trail commission payable by lenders is generally in the range of 0% per annum and 0.2% per annum of the outstanding loan amount.

Personal Loans

Upfront commission payable by lenders in relation to personal loans is calculated as a percentage of the loan amount and is generally in the range 1% and 4% of the loan amount.  It is usually paid after settlement of the loan.

Trail commission payable by lenders in relation to personal loans is generally calculated regularly (monthly, quarterly, bi-monthly or annually) on the outstanding loan balance and is paid in arrears. The trail commission payable by lenders is generally in the range of 0% per annum and 0.2% per annum of the outstanding loan amount.

Leases

Upfront commission payable by lessors in relation to leases is calculated as a percentage of the lease amount and is generally in the range of 0% and 5% of the lease amount.  It is usually paid after settlement of the lease.

Trail commission is generally not payable in relation to leases.

Further details of the commission earned by us will be included in the credit proposal disclosure document we will provide to you at the same time as we provide you with credit assistance.

You can request information from us about the fees that we are likely to receive, how those fees are calculated, and our reasonable estimate of the fees or commissions that will be payable.

VOLUME BONUS ARRANGEMENTS

From time to time we or our Broker Group may receive a benefit, directly by way of cash bonus or additional commissions or indirectly by way of training, professional development days or sponsorship, if we or our Broker Group write a particular volume of loans offered by those lenders.

COMMISSIONS PAYABLE BY US

If a third party has introduced you to us or referred you to us, we may pay them a commission or a fee.  More detail about those payments will be set out in the credit proposal disclosure document we will give to you before we provide you with credit assistance.

We obtain referrals from a range of sources, including real estate agents, accountants, financial planners or other people.

Further information about referral commissions, including our reasonable estimate of the amount of any commission payable and how it is calculated is available from us on request and will be included in the credit proposal disclosure we will supply to you when we provide you with our credit assistance.

COMPLIMENTS AND CONCERNS

At Stellou Pty Ltd, we always work hard to build strong and lasting relationships with our valued customers.  By listening to your feedback, not only can we address any immediate concerns you may have, we will also continually improve our products and services.

We know there are times when you may wish to compliment us on something we have done well and other times when you may wish to tell us we have not met your expectations.

COMPLIMENTS

Our representatives are always delighted to know that they have succeeded in making your experience a pleasant and successful one.

If one of our representatives has provided you with exceptional service in any way, please let us know using the details below, so that we can further encourage them via this feedback process.

CONCERNS

If, for any reason, you do not feel that you have received the highest standard of care from us, we likewise encourage you to share this with us.  We have developed a process that we believe makes it easy for you to tell us of your concerns and for them to be addressed quickly and fairly.

You can contact our Licensee, Pursuit Broker Services by whichever of the following means best suits you:

Telephone:  1300 817 662
Email: admin@qedrisk.com.au
Mail:  Complaints Handling Officer, PO Box 5178, Brendale LPO QLD 4500

If you choose to contact us by mail or email, please make sure you provide as much detail as possible about your complaint.

NEED AN UPDATE ON YOUR COMPLAINT

If you have lodged a complaint with us, you can contact us at anytime to ask for an update on its status.  Contact us through any of the methods listed above and please be sure to refer to your earlier communication so that we can respond effectively.

RESOLUTION

We will try to deal with your complaint on the spot.  However, if this is not possible, we will write to you to acknowledge your complaint within 5 days.  We will ensure we treat you fairly and will work to resolve your complaint as soon as possible.  In the rare event we are still investigating your complaint after 45 days we will write to you to explain why and to let you know when we expect to have completed our investigation.

When we have completed our investigation we will write to let you know the outcome and the reasons for our decision.

TAKING IT FURTHER

We hope that you will be satisfied with how we deal with your complaint.  However, if your concerns remain unresolved, or you have not heard from us within 45 days, then you can have your complaint heard by our external disputes resolution scheme (EDRS), AFCA, an independent party.  You can contact AFCA at:

Australian Financial Complaints Authority

FEEDBACK FORM

We value your questions and feedback, should you wish to contact us please complete the form below and we will respond as soon as possible. 


PRIVACY POLICY

STATEMENT ON THE USE OF YOUR PERSONAL INFORMATION

Licensee

QED Credit Services Pty Ltd ACN 147 272 295
Australian Credit Licence Number: 387856

Broker Group

Professional Lenders Association Network of Australia Pty Ltd (“broker group”)
ACN 086 490 833
Credit Representative Number 392535

 

COLLECTION AND USE OF YOUR INFORMATION

Stellou Pty Ltd and its representatives will only seek to collect necessary information from you in order to provide you with the credit assistance you have sought from us.  We may also use this information for purposes associated with our services such as follow-up calls to assist you.

DISCLOSURE OF PERSONAL INFORMATION

Stellou Pty Ltd and its representatives will never unnecessarily exchange your personal or business information with any third party for any reason, unless compelled by force of law.  However, in order to assist you, we may be required to provide your personal information to certain organisations.  If your information is not provided, we may be unable to assist you.  The types of organisations include:

  • Lenders
  • Our Licensee
  • Mortgage insurers
  • Other mortgage intermediaries
  • Valuers
  • Other organisations that assist us such as printers, mailing houses, lawyers, debt collectors, accountants and other auditors

In certain, specific cases our Licensee may contract an external audit service provider to ensure we are meeting our obligations and commitments to you under the National Consumer Credit Protection Act 2009 and this service provider may disclose your personal information to its team in India.  You can be assured that we have full legal access to that overseas service provider as if they were domiciled in Australia, as required by the Privacy Act 1988.

ACCESS AND ALTERATIONS TO YOUR PERSONAL INFORMATION

You can gain access to your personal or company information or advise alterations to that information by contacting our office:

Contact Person:  Phoebe Blamey
Telephone:  03 9998 2615
Email: phoebe.blamey@cloversolutions.com.au
Address: Unit 3, 529 Burwood Road, Hawthorn VIC 3122

Information which is easily accessible will be provided to you free of charge. However, information which is more difficult to access may have a fee associated with the request. You can also contact us for more detailed information on how we collect, handle and secure your personal information.

MARKETING

From time to time, Stellou Pty Ltd may contact you with information about products from either ourselves or our industry affiliates that we believe may interest you.  To opt-out of receiving such information, simply let us know by contacting us directly using the office details above.

SECURITY OF YOUR PERSONAL INFORMATION

Stellou Pty Ltd takes reasonable steps to ensure the security of your personal or company information from unauthorised access, theft or modification.

FEEDBACK ON THE HANDLING OF YOUR PERSONAL INFORMATION

Should you be unsatisfied in the manner in which Stellou Pty Ltd has handled your personal information please contact us (per details listed above). We will take all necessary steps to investigate and address your concerns. If the issue you have raised is not resolved to your satisfaction you should contact the Office of the Australian Information Commissioner at:

Telephone:  1300 363 992
Email:  enquiries@oaic.gov.au
Address:  GPO Box 5218, Sydney NSW 2001

You can learn more about the Privacy Act and your rights at www.privacy.gov.au

WEBSITE PRIVACY POLICY

This Privacy Policy sets out our commitment to protecting the privacy of your personal information that we collect through this website www.cloverfinancial.com.au/ or directly from you.

Please read this Privacy Policy carefully.  Please contact us if you have any questions.

You providing us with personal information indicates that you have had sufficient opportunity to access this Privacy Policy and that you have read and accepted it. If you do not wish to provide personal information to us, then you do not have to do so, however it may affect your use of this Site or any products and services offered on it.

TYPE OF PERSONAL INFORMATION COLLECTED

Personal Information: The type of personal information we collect may include is set out on our website. If we receive your personal information from third parties, we will protect it as set out in this Privacy Policy.

COLLECTION AND USE OF PERSONAL INFORMATION

We collect and use the personal information for purposes including to contact and communicate with you, for internal record keeping and for marketing.

DISCLOSURE OF PERSONAL INFORMATION

We may disclose personal information for purposes including to provide our products and services to you, and as required by law.
Where we disclose your personal information to third parties for these purposes, we will request that the third party follow this Privacy Policy regarding handling of your personal information.

ACCESS TO AND CORRECTION OF PERSONAL INFORMATION

Access: You may request details of personal information that we hold about you, in certain circumstances set out in the Privacy Act 1988 (Cth).  An administrative fee may be payable for the provision of information.  We may refuse to provide you with information that we hold about you, in certain circumstances set out in the Privacy Act.

Correction: If you believe that any information we hold on you is inaccurate, out of date, incomplete, irrelevant or misleading, please contact us by email. We rely in part upon customers advising us when their personal information changes.  We will respond to any request within a reasonable time.  We will endeavor to promptly correct any information found to be inaccurate, incomplete or out of date.

COMPLAINTS ABOUT BREACH

If you believe that we have breached the Australian Privacy Principles and wish to make a complaint about that breach, please contact us on the email address below.

UNSUBSCRIBE

To unsubscribe from our e-mail database, or opt out of communications, please contact us at the details below.

STORAGE AND SECURITY

We are committed to ensuring that the information you provide is secure.

For any questions or notice, please contact us at:
Clover Solutions  (Stellou Pty Ltd ACN 122 593 426)

Last update: 21 January 2018. This policy is provided by legalvision.com.au

1 Sensitive information is information about a person’s racial or ethnic origin, political opinions, membership of a political association, religious beliefs or affiliations, philosophical beliefs, membership of a professional or trade association or trade union, sexual preferences or practices, criminal record, health information, genetic or biometric information.

2 However we’ll never ask you for your security details in this way – if you are ever unsure, just contact us