Key information about our licensing, best interests duty, fees, commissions, and dispute resolution.
This Credit Guide is designed to provide you with key information about the credit services offered by Finance on the Coast (a trading name of Model Mortgages Pty Ltd) and your rights before you choose to use our services.
Finance on the Coast is a subdivision of Model Mortgages Pty Ltd:
Licensee: Model Mortgages Pty Ltd
ABN: 82 108 681 063
Australian Credit Licence Number (ACL): 387460
Phone: 0418 204 304
Email: info@financeonthecoast.com.au
Under the law, we are required to act in your best interests when suggesting credit products. We must not provide or suggest credit assistance if the credit contract is unsuitable for you. A contract is unsuitable if:
We are obligated to conduct a preliminary assessment of suitability before assisting you. You can request a copy of this assessment at any time within seven years of us providing credit assistance.
We draw from a broad panel of 50+ lenders to find the right loan structure and competitive rate for your situation. The lenders we write the most loans with include major Australian banks, regional banks, and specialist non-bank lenders.
We do not charge you a fee for our credit services. We are compensated by the lenders via commission payments upon successful settlement of your loan. If any specialized fee applies to your scenario (e.g. for commercial or complex finance), we will discuss and agree upon this in writing prior to commencing work.
Lenders pay us an upfront commission (based on the loan amount) and an ongoing trail commission (based on the outstanding loan balance). These commissions are paid directly by the lender out of their margins and are not added to your loan or interest rate.
We hope you are delighted with our service. However, if you have any complaints, we have internal and external dispute resolution procedures in place to resolve the issue quickly and fairly.
If you have a complaint, please contact our Complaints Officer at the contact details above. We will acknowledge your complaint within 24 hours and aim to resolve it within 30 days.
If you are not satisfied with our response, you can refer the matter to our independent external dispute resolution scheme, the Australian Financial Complaints Authority (AFCA). This is a free service provided to consumers:
Scheme: Australian Financial Complaints Authority (AFCA)
Phone: 1800 931 678
Website: afca.org.au
Postal Address: GPO Box 3, Melbourne VIC 3001