Credit Guide
Important information about our credit services as required by the National Consumer Credit Protection Act 2009
Version 1.0 | Effective: January 2025
Purpose of This Document
This Credit Guide is designed to help you decide whether to use our credit services. It contains important information about the credit assistance we provide, including our fees, commissions, and how we handle complaints. Please read this document carefully before engaging our services.
1. About the Licensee
Credit Representative Details
Business Name
Your Lending Friend Pty Ltd
ABN
72 669 448 560
Credit Representative Number
551509
Address
Level 3, 116 Military Road, Neutral Bay NSW 2089
Phone
0408 383 736
emily@yourlendingfriend.com.au
Australian Credit Licence Holder
Your Lending Friend Pty Ltd is an authorised credit representative of:
Licensee Name
Viking Aggregation Pty Ltd
Australian Credit Licence Number
543046
Viking Aggregation Pty Ltd holds an Australian Credit Licence which authorises us to engage in credit activities on their behalf. You can verify this licence at www.asic.gov.au
2. Credit Assistance Services We Provide
We provide credit assistance to consumers and small businesses seeking finance. Our services include:
Car Loans
New, used, and refinance vehicle finance
Personal Loans
Secured and unsecured personal lending
Business Loans
Working capital and business expansion finance
Equipment Finance
Machinery, tools, and business equipment
Truck & Commercial
Heavy vehicle and commercial asset finance
Bad Credit Loans
Specialist finance for adverse credit situations
What We Do For You
- Assess your financial situation and lending requirements
- Explain the features and costs of different credit products
- Compare options from our panel of over 40 lenders
- Recommend products that may be suitable for your needs and objectives
- Assist you in applying for credit with your chosen lender
- Help you understand loan documents and settlement requirements
Important: We are a finance broker, not a lender. We do not make lending decisions. All credit applications are subject to lender approval and their credit criteria.
3. Fees and Commissions
Fees Payable by You
We charge a broker fee for arranging your finance. This fee is typically built into your loan amount, meaning you don't pay it upfront - it's included in your loan repayments.
Our broker fee typically ranges from $0 to $990 depending on the complexity of your application and the lender involved.
We will always provide you with written disclosure of the exact fee amount before you enter into any credit contract. You are not obligated to proceed if you do not agree to the fees.
Commissions We Receive
We receive commissions from lenders when a loan is settled. These commissions are paid by the lender, not by you, and do not increase the cost of your loan.
Upfront Commission
A one-time payment when your loan settles, typically ranging from 0% to 6% of the loan amount depending on the lender and product type.
Trail Commission
Some lenders pay ongoing trail commissions for the life of the loan, typically ranging from 0% to 0.5% per annum of the outstanding loan balance.
Commission Disclosure
Before you enter into a credit contract, we will provide you with specific details of the commissions we expect to receive for that transaction. You have the right to request more information about our commissions at any time.
Referral Fees
We may pay or receive referral fees to or from third parties who refer customers to us or to whom we refer customers. If applicable, we will disclose any referral fees before you enter into a credit contract.
4. Complaints Handling Process
We are committed to providing quality service. If you have a complaint about our services, please follow the process below:
Contact Us First
In the first instance, please contact us directly to discuss your concerns:
Phone: 0408 383 736
Email: emily@yourlendingfriend.com.au
Mail: Level 3, 116 Military Road, Neutral Bay NSW 2089
We will acknowledge your complaint within 1 business day and aim to resolve it within 30 days.
Contact Our Licensee
If you are not satisfied with our response, you can escalate your complaint to our licensee:
Viking Aggregation Pty Ltd
Australian Credit Licence: 543046
External Dispute Resolution
If your complaint is not resolved to your satisfaction, you can refer it to the Australian Financial Complaints Authority (AFCA), an external dispute resolution scheme approved by ASIC:
Australian Financial Complaints Authority (AFCA)
Website: www.afca.org.au
Phone: 1800 931 678 (free call)
Email: info@afca.org.au
Mail: GPO Box 3, Melbourne VIC 3001
AFCA provides a free and independent dispute resolution service. There are time limits for lodging complaints with AFCA, so please contact them promptly.
5. Additional Information
Our Panel of Lenders
We have access to a panel of over 40 lenders, including major banks, credit unions, and specialist lenders. Our recommendations are based on our assessment of which products may be suitable for your needs from this panel. We do not compare all products in the market.
Your Privacy
We collect personal information to assess your finance needs and submit applications to lenders. Your information is handled in accordance with our Privacy Policy and the Privacy Act 1988 (Cth). You can request access to your personal information or make a complaint about how we handle your information at any time.
Responsible Lending
We are required by law to ensure that any credit product we recommend is not unsuitable for you. To do this, we will make reasonable enquiries about your financial situation, requirements, and objectives before making any recommendations.
Conflict of Interest
We receive commissions from lenders, which may create a potential conflict of interest. We manage this conflict by:
- -Disclosing all commissions and fees to you
- -Recommending products based on your needs, not commission levels
- -Providing you with clear information to make informed decisions
Questions About This Guide?
If you have any questions about this Credit Guide or our services, please do not hesitate to contact us. We are here to help.
Phone
0408 383 736Address
Level 3, 116 Military Road, Neutral Bay NSW 2089