Legal
Who we are, the credit assistance we provide, what it costs, how we handle your information, and what to do if something goes wrong.
Stonegate Partners Pty Ltd (ACN 695 914 660, ABN 21 695 914 660), trading as Fifty Finance, is based in Zetland NSW 2017. We are Credit Representative #577950 of Australian Credit Licence #414426, held by AFAS Group Pty Ltd (ABN 12 134 138 686).
You can reach us at [email protected].
The National Consumer Credit Protection Act 2009 requires us to give you a Credit Guide and Quote as soon as it becomes clear we are likely to provide credit assistance. This page sets out that information so you can read it before you get in touch: who we are, the service we provide, our obligations under that Act, the maximum fees and charges payable by you, how we handle your information, and how to make a complaint.
A guide to the commissions we may receive from credit providers, and details of any fees payable by Fifty Finance to third party referrers, depend on the product and the arrangement involved. Those figures are set out in the Credit Guide and Quote that Josh provides to you directly before any credit assistance begins.
Our credit assistance in sourcing and arranging a suitable loan includes:
To establish that a credit contract is not unsuitable for you, the law requires us to make reasonable enquiries about your requirements and objectives, make reasonable enquiries about your financial situation, and take reasonable steps to verify that information.
If, at the time of assessment, there is evidence suggesting you would be unable to afford the repayments, or that the credit would cause you substantial hardship, or that it would not meet your requirements and objectives, then the credit is deemed unsuitable and we cannot proceed with it.
Because proving that credit is not unsuitable matters, we need a significant amount of information from you and it is important that the information is accurate. We complete a preliminary assessment of your requirements and financial position, and we keep that assessment for seven years. You can ask us for a copy within seven years of the assistance being provided. We are only required to provide it if we actually give you credit assistance.
We may charge you up to $2,500 (including GST), or up to 10% of the amount financed, as an origination fee for providing credit assistance. This is only payable if the loan proceeds. It is a one off fee, payable at loan settlement, and it can be paid directly by you or included in the loan disbursements. If it is included in the disbursements, your loan increases by the amount of the fee.
Credit providers charge their own fees, separately from ours. These typically include an application or establishment fee, an ongoing monthly account fee, and a PPSR registration fee where the loan is secured. The amounts vary between providers and between products, and some lenders also charge a risk fee, which can range between 1% and 10% of the vehicle price.
We will tell you the fees that apply to the option we recommend before you proceed, and the exact figures are set out in the credit provider's own documents before you sign anything.
We may submit your credit application to one or more credit providers from our panel of lenders. Which providers we approach depends on what you are financing and on your circumstances, so the panel is described here rather than listed, and the list changes over time.
An up to date list of our credit provider panel, including each provider's website address and a link to its privacy policy, is available on request. Contact us at [email protected] and we will send you the current list.
Once we submit an application, the credit provider may:
Every credit provider runs its own privacy and credit reporting policies. Those documents, not this one, govern what that provider collects and holds, how it uses and discloses your information, which credit reporting bodies it deals with, whether your information may be sent overseas and to which countries, how you can access and correct what it holds, and how to complain about the way it has handled your information.
You will usually find this on the provider's own website under a heading such as Privacy Policy, Credit Reporting Policy or Notifiable Matters. You can also ask the provider for a copy directly, or ask us and we will point you to it.
We collect credit and personal information about you to source consumer credit for personal, household, domestic or residential investment purposes, to source commercial credit for business purposes, to provide the other services set out in our Privacy Disclosure Statement and Consent, and to support a guarantor application where you provide one.
As your broker we need that information to assess your credit application, or the application of a company of which you are a director, to source a suitable credit provider, and to manage the application process. If you do not provide the information sought, we may be unable to process the application, or we may be limited in the other services we can offer.
Subject to Australia's privacy and credit reporting laws, we use the information you give us only for the purposes set out in the consent you sign, and we do not disclose it to anyone else except with your permission or as permitted or required by law.
Our full Credit Guide Privacy Policy sets out how we collect, hold, use and disclose your information, and how you can access or correct it.
With your consent we may disclose your identification information to a credit reporting body in order to obtain a report about you, and use the information in that report to assess your consumer credit or guarantor application. We may also disclose your personal information to an insurer, and your credit information to a credit provider, to apply for finance on your behalf.
Each credit provider's website sets out the credit reporting bodies it deals with and the information those bodies hold about you. That material is usually published under a heading such as Privacy Policy, Credit Reporting Policy or Notifiable Matters, and it covers how a credit reporting body may pass information to other credit providers, what happens if you become overdue and commit a serious credit infringement, your right to access and correct the information held, your right to ask a credit reporting body not to use your information for direct marketing pre-screening, and your right to ask it not to release your information if you believe you are a victim of fraud.
You have the right to ask us to provide the information we hold about you, to correct it if it is wrong, and to give you a copy of our privacy policy and related documents in a form that suits you, such as hard copy or email. You can also ask a credit reporting body not to use your information for direct marketing assessment, including pre-screening, and to give you a copy of the information it holds about you.
To access the information we hold, contact our Privacy Officer at [email protected]. In some cases an administration fee may apply to cover the cost of providing it.
We follow set procedures to try to resolve any complaint you have. Please contact us at [email protected] and we will try to resolve your concerns quickly and fairly.
If we cannot resolve your complaint to your satisfaction, or you have not received a response from us after 30 days, you can escalate it to the Australian Financial Complaints Authority, a free and independent dispute resolution service.