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Credit Guide
This Credit Guide explains who we are, how we are paid, the lenders we work with, and what to do if something goes wrong.
This Credit Guide is issued by Loan Shepherd Pty Ltd trading as Loan Shepherd, ABN 12 700 380 025, of 148 Merthyr Road, New Farm QLD 4005.
We are a Credit Representative, number 580842, of LMG Broker Services Pty Ltd ACN 632 405 504, Australian Credit Licence 517192.
About this guide
The National Consumer Credit Protection Act 2009 requires us to give you this document. It tells you the key things you should know about us before we provide credit assistance — that is, before we suggest a particular credit product or help you apply for one.
The lenders we work with
We have access to a panel of more than 60 lenders, including major and smaller banks, credit unions, and non-bank and specialist lenders. We are not able to compare every lender or every credit product available in the market, and our panel is subject to change and to individual accreditation.
As a new business, we do not yet have a full financial year of lending volume to report this from.
A full list of the lenders on our panel is available on request.
How we are paid
We are generally paid by the lender, not by you. When a loan we arrange settles, the lender typically pays us an upfront commission, and may pay an ongoing trailing commission for as long as the loan remains open.
Commission amounts vary between lenders and products. You can ask us for the actual amounts payable in relation to your loan, and we will disclose them to you before you apply.
If we charge you a fee for our services, we will tell you and explain how it is calculated and when it is payable before you engage us.
We may pay a referral fee to a person who refers you to us. If that applies to your matter we will tell you.
Our obligations to you
Before we provide credit assistance we must make reasonable enquiries about your requirements, objectives and financial situation, take reasonable steps to verify your financial situation, and assess whether the credit contract is not unsuitable for you.
A loan will be unsuitable if you could not repay it without substantial hardship, or if it does not meet your requirements and objectives. You can ask us for a written copy of our assessment at any time before you enter the credit contract, and we must give it to you at no cost.
Documents we will give you
- This Credit Guide.
- A Credit Proposal Disclosure, setting out the loan we propose, the fees you will pay, and the commission we expect to receive.
- The Credit Guide of LMG Broker Services Pty Ltd, our licensee.
If you have a complaint
Full detail, including our response timeframes, is on our Feedback page. In short:
Step one — talk to us
Please raise it with us first. Contact us on 07 3184 9966, by email at admin@loanshepherd.com, or in writing to 148 Merthyr Road, New Farm QLD 4005. We will acknowledge your complaint promptly and respond within the timeframes required by law.
Step two — our licensee
If we cannot resolve it, you can raise the matter with LMG Broker Services Pty Ltd’s resolutions team by email at resolutions@lmg.broker, by phone on 1800 275 564, Monday to Friday, 8am–7pm AEST, or by mail to Resolutions, Level 28, 35 Collins Street, Melbourne VIC 3000.
Step three — external dispute resolution
If you are still not satisfied, you can take your complaint at no cost to the Australian Financial Complaints Authority (AFCA), our external dispute resolution scheme. AFCA provides fair and independent financial services complaint resolution.
- Online: afca.org.au
- Email: info@afca.org.au
- Phone: 1800 931 678
- Mail: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001
You may also contact the Australian Securities and Investments Commission (ASIC) on 1300 300 630, or the Australian Financial Security Authority, for general information about your rights.
Your privacy
How we collect, use and protect your personal information is set out in our Privacy Policy.