Australian Credit Licence or Credit Representative

Under the new legislation by Jan 1st 2010 all mortgage brokers must be either fully licenced (Australian Credit Licence) or be a credit representative of a licencee.

Why deal with a licence holder? well one of the fundamental differences is that a credit representative is restricted to using only the lenders on their licencee’s panel.  This could mean that a new product or a one-off special product ideally suited to your needs may not be available – by law if their licencee doesn’t have an agreement with that lender then it is illegal for the credit representative to try and arrange that loan for you.   Where as a licencee broker is independent in that they can freely enter into agreements with any suitably accredited lender.

Peach Financial Group is an Australian Credit Licencee – Licence No:385657 and that’s just one more good reason to stay sweet with Peach.

Keeping It Simple No Obligation no inquiries on your credit file
Provide some contact information and brief background and our broker will be in touch usually within the hour