Purple Circle Financial Services Pty Ltd holds an Australian Credit Licence issued by the Australian Securities and Investment Commission (ASIC). We conduct business through a network of finance brokers who are appointed as Credit Representatives under our Licence.Purple Circle Financial Services Pty Ltd is responsible for the advice and conduct of your finance broker as set out in this Credit Guide and will ensure they always act within your best interests.
Purple Circle Financial Services Pty Ltd has a broker arrangement in place with Mortgage Specialists Pty Ltd (“broker group”), ACN 050 601 093, Australian Credit Licence No. 387025. We obtain mortgage aggregation services from the broker group.
A “Credit Representative” is a person who has been authorized by a credit licensee to engage in specified credit activities on our behalf.
AUTHORIZED CREDIT REPRESENTATIVE
Advisor Name
Anil Poudel
Authorized Credit Representative Number
555483
ecofinance23@gmail.com
Phone
+61 421 561 785
Address
Unit 203 39-45 George St, ROCKDALE NSW 2216
Licensee Name
Purple Circle Financial Services Pty Ltd “Us”
Australian Credit License Number (ACL)
486112
Licensee ABN
21 611 305 170
This Credit Guide (CG) provides you with important information about us and our Credit Representatives, who may provide you with credit services described in the CG.
As well as giving you important information that will help you decide if you want to use any of these services, it provides important information about:
Our Credit Representatives are authorised to engage in credit activities including providing credit assistance on behalf of Licensee. They can provide you with the following Credit Assistance:
We are obliged to ensure that any loan or increase to a loan we help you to obtain or any lease we help you enter is not unsuitable for you. To decide this, we will need to ask you some questions in order to assess whether the loan or lease is not unsuitable, and within your best interests.
To make this assessment, we must make reasonable enquiries about your objectives and requirements and for the credit contract or credit limit increase. We must also make reasonable enquiries about your financial situation and take reasonable steps to verify this information.
It is important that the information you provide us is accurate, complete and up to date, as if we proceed on incomplete or incorrect information, you may be in breach of your legal obligations to the lender.
We will not be able to give you Credit Assistance if our assessment shows that:
We will prepare a written Statement of Credit Assistance. You can ask us for a copy of this Statement any time up to seven years after we provide you with Credit Assistance. To request a copy please contact us.
We will provide you with a copy:
We have an obligation under the Anti-Money Laundering and Counter Terrorism Finance Act 2006 to verify your identity and the source of any funds. This means that we will ask you to present identification documents such as passport and driver license. We will also retain copies of this information. We cannot provide you with Credit Assistance if you are unwilling to provide this information.
As a client, you may also be referred to any related or other company of which your broker may be a director or representative of, such as Accounting, Financial Planning, Real Estate, Insurance or Property Development. These industries operate under a different authorization structure and the services provided are distinct from the services provided under mortgage broking. There is no obligation to utilize the referred services offered by your broker and you are welcome to compare services to those in the market prior to making any commitment.
Additionally, we may access various reports via our lenders such as credit or property reports. These services are offered free to brokers and we believe it does not influence our recommendations.
If any potential conflicts are noted during the assessment of the information you provided, these will be outlined on the Statement of Credit Assistance that will be provided to you prior to lodgement of your application to a lender.
Subject to meeting credit criteria, we will be able to assist you to obtain loans and leases from a broad range of lenders and lessors through our broker group.
The following are the lenders or lessors with which our licensee conducted the most business during 2022/2023: ANZ, NAB, ST George, Macquarie, Westpac, Bankwest.
The following are the lenders or lessors with which I conducted the most business during 2022/2023:The credit representative commenced with Purple Circle Financial Services during this financial year, the broker is unable to provide information in respect to the previous year's top 6 lenders.
We may charge a fee for providing Credit Assistance. More detail about those fees will be set out in a Credit Quote we will give to you before we provide you with Credit Assistance.
You may be charged a lender’s application fee, valuation fees and other fees associated with the loan or lease. These fees are not charged byPurple Circle Financial Services Pty Ltd or our Credit Representative. You should review the disclosure documents and your loan contract or lease for further details of any such fees and charges
Purple Circle Financial Services Pty Ltd has appointed a broker group as our agent to receive commissions from lenders and lessors and to pay Purple Circle Financial Services Pty Ltd commission in relation to loan contracts or leases for which we act as a Credit Representative and provide Credit Assistance. The total amount of commissionPurple Circle Financial Services Pty Ltd 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. Some or all of a commission payment received byPurple Circle Financial Services Pty Ltd may be paid to our Credit Representatives.
Loan Contracts such as home loans, investment property loans.
Upfront commission payable by lenders in relation to loans is calculated as a percentage of the loan amount and is generally in the range of 0.5% and 1% of the loan amount. It is usually paid after settlement of the loan.
Trail commission payable by lenders in relation to loans is generally calculated regularly (monthly, quarterly, bimonthly 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 0.30% per annum of the outstanding loan amount.
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 of between 1.65% and 2.75% of the loan amount. It is usually paid after settlement of the loan.
No trail commission is payable by lenders in relation to personal loans.
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 0.5% and 4% 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 Statement of Credit Assistance 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 or commission that we are likely to receive, how they are calculated, and our reasonable estimate of the fees or commissions that will be payable.
From time to timePurple Circle Financial Services Pty Ltd, our Credit Representatives (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.
We may pay a referral fee (i.e. commission) for third party referrals. An example of a referrer would be a real estate agent, financial planner, accountant or solicitor. This fee is not payable by you.
Further information about referral fees, including our reasonable estimate of the amount of any fees payable and how it is calculated is available from us on request and will be included in the Statement of Credit Assistance document we will supply to you when we provide you with Credit Assistance.
Purple Circle Financial Services Pty Ltd and our Credit Representatives may also receive a benefit for referring you to other specialist service providers. We will disclose this to you at the time we make the referral.
The broker group provides arm’s-length services to our business which include IT systems, loan information and lodgement systems, training and development, commission processing, conferences and professional development events, and assistance with regulatory and compliance obligations. In consideration of the services the broker group gives us, we pay fees to the broker group or the broker group retains some of the commission our panel lenders pay on loans we arrange.
We need to collect personal information about you to provide you with our broking and related credit services. This privacy statement tells you how we collect your information, what we use the information for and with whom we share the information. If we collect information that can be used to identify you, we will take reasonable steps to notify you of that collection. In certain circumstances, we may also be required to collect sensitive information (such as health information) on behalf of the lender in the course of giving you credit assistance.
We will collect your information from you directly whenever we can, including enquiries we make of you when you seek credit assistance from us. We may verify that information from sources referred to in the responses to those enquiries or in this privacy statement.
Sometimes we will collect information about you from other sources as the Privacy Act 1988 permits. We will do this only if it is reasonably necessary to do so, for example, where:
We may use your information for purposes including:
If you do not provide your information to us, it may not be possible to:
We may use and share your information with other organizations for any purpose described above.
Sharing with your representatives and referees
We may share your information with:
Sharing with third parties
We may share your information with third parties in relation to services we provide to you or goods or services in which we reasonably consider you may be interested. Those third parties may include:
You can find out more about how we manage your information by reading our Privacy Policy available by contacting us. Please see our contact details above. Also, you can read and obtain a copy of our Privacy Policy at the website address set out above. Our Privacy Policy sets out how you can ask us to access and seek to correct information we hold about you and how you may complain against us about a privacy issue.
By doing business with us you agree that we may collect, use and disclose your information as specified below unless you have explicitly withdrawn your consent.
Consent to provide your personal information to a credit reporting body (CRB).
You authorise us to act as an access seeker within the meaning of section 6L of the Privacy Act to seek and obtain credit information on your behalf for the purposes of establishing which product is most suitable for your requirements and circumstances.
If we act as your agent to obtain a report or information about your consumer or commercial credit worthiness from a CRB, we may disclose personal information such as your name, date of birth, and address to the CRB to obtain an assessment of whether that personal information matches information held by it. Credit information includes information such as your identity information, the type, terms and maximum amount of credit provided to you, repayment history information, default information (including overdue payments), court information, new arrangement information, personal insolvency information, disciplinary proceedings, complaints, delinquency, fraud investigations and details of any serious credit infringements.
We may periodically provide you with information about new products and services available from us or from other businesses with whom we have a relationship. Your consent to our providing this information to you will be implied unless you notify us that you do not wish to receive this information.
You consent to us providing you with documents by electronic communication, you confirm that paper documents may no longer be given and electronic communications must be regularly checked for documents. Consent to the giving of documents by electronic communication may be withdrawn at any time.
You consent to us obtaining personal information, financial information and credit information about you by video or audio conferencing for the purpose of arranging credit, providing credit assistance and give your permission for that video or audio conference to be recorded for this purpose.