This is the Credit Guide of CCS Lending - ABN/ACN: 17 166 219 521, Australian Credit Licence: 458791. We are licensed to arrange loans and leases under the National Consumer Credit Protection Act 2009. The NCCP Act regulates the activity of lending, leasing and finance broking.
CREDIT REPRESENTATIVE DETAILS
Adviser Name: Aaron LY
Credit Representative Number:
AFCA Membership Number: 44142
FBAA Membership Number: M-325888
Phone Number: +61 449 988 599
Business Name: CCS Lending Pty Ltd
Address: International Tower III, Level 24/300 Barangaroo Ave, Sydney NSW 2000, Australia
CREDIT LICENCE DETAILS
Australian Credit Licence: CCS Lending
Credit Licence Number: 458791
AFCA Licence Number: 44142
Address: PO Box 383 Pyrmont, NSW 2009
ABN: 17 166 219 521
Phone Number: 0449 988 599
About this Credit Guide
This Credit Guide is designed to assist you in deciding whether to use the services we offer.
Services we Provide
We will provide you with information on a range of lenders and products. Once you have chosen a loan or lease that is suitable for you, we will help you to obtain an approval.
Our Associations and Relationships
All our credit representatives are accredited with CCS Lending - Australian Credit Licence: 458791. Below are the six lenders with whom CCS Lending conducts the most business with:
CCS Lending aggregates through Vow Financial Pty Limited ( a wholly owned subsidiary of Yellow Brick Road Group Limited). Vow Financial source finance from a panel of lenders. Below are the six lenders with whom Vow Financial Conducts the most business with:
Our Best Interests Duty (BID) Obligations to You
As of the 1st January 2021, the best interests duty (BID) was enshrined into law that requires mortgage brokers to act in the best interests of the consumer when providing credit assistance. BID was largely introduced to improve customer outcomes after recommendations from Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry were made relating to mortgage broking. The law requires us to:
Our Responsible Lending Obligations to You
We are obliged to ensure that any loan , or principal 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 may need to ask you some questions in order to assess wheather the loan or lease is not unsuitable. The law requires us to:
Credit will be unsuitable for you if , at the time of the assessment, it is likely that the following would apply at the time credit is provide:
For example, if you can only repay by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason, we must ask you to provide a significant amount of information. It is important that the information you provide is accurate, complete and up to date.
We will provide you with a copy of our preliminary assessment of your application, if you ask within seven years of when we provided assistance to you. This requirement is only triggered if we give you credit assistance.
If we arrange a loan for you to purchase or refinance real estate, remember you must make your own inquiries about the value of the real estate and its potential for future growth. Although we may obtain a valuation, that is for our own use and you should not rely on it.
Our Fees and Charges
Generally, no fees or charges are payable by you to us for or credit assistance. In some instances, a fee for service may be required. Details of these fees will be set out in a Credit Quote.
However, you may be charged a lender's application fee, valuation fees and other fees associated with the loan, These fees are not charged by us and will be disclosed to you prior to submission of the credit application. Please note, however , that if a valuation is conducted and you ultimately choose not to proceed with the loan, you may be liable for the valuation fees.
We may receive commissions from the lenders and lessors who provide finance for you as our customers. These fees are not payable by you. You may obtain information relating to reasonable estimates of those commissions and how they are calculated.
When we provide you with credit assistance, you may ask us for a reasonable estimate of the commission likely to be received, directly or indirectly by CCS Lending and its credit representatives.
From time to time, we may receive financial or non-financial benefits from CCS Lending, lenders, lessors or others. Some or all of a commission received by CCS Lending may be paid to our Credit Representatives.
Vow Financial Pty Limited may pay Commissions to our credit representatives for referring to our Diversification Partners such as Vow Legal. Referral Commissions may vary between 20% and 25% of professional fees charged by the Diversification Partner. These fees are not payable by you.
We may pay a referral fee (i.e. commission) for third party referrals. An example of a referrer would be a real estate agent or solicitor. this fee is not payable by you. This fee will be disclosed in the Credit Proposal Disclosure Document or equivalent document. You may on request obtain a reasonable estimate of the amount of commission and how it is calculated.
CCS Lending and your representative may also receive a benefit for referring you to other specialist service providers.
Internal Dispute Resolution
If you are unhappy with our services, please contact us first by contacting our Complaints Manager o the following:
CCS Lending - Complaints Manager
Post PO BOX 383 PYRMONT, NSW 2009
We will endeavor to resolve your complaint quickly and fairly.
External Dispute Resolution - Australian Financial Complaints Authority (AFCA )
If your complaint has not been resolved to your satisfaction, you may contact the Australian Financial Complaints Authority (AFCA), which is an independent dispute resolution scheme for financial services complaints.
Telephone 1800 931 678
Post GPO Box3, Melbourne VIC 3001
Things you Should Know
You should ensure that you have approved finance, in writing from the lender, before entering a binding contract to purchase.
It is important you understand your legal obligations under the loan, and the financial consequences. If you have any concerns, you should obtain independent legal and financial advice before you enter into a loan contract.
We do not make any promises about the value or future prospects of any property you finance with us. You should always rely on your own enquirers.
Before you accept your loan offer, make sure you read the credit contract carefully to understand full details of the loan. If you have any doubts, you should obtain independent legal and financial advice before you enter into any loan contract.
We represent lenders and have obligations to them, and in particular, to not provide any information we know is misleading or deceptive. We also have obligations under the law to report any fraud, forgery, or other illegal activities. Before using our services, it is important that you understand that we have these obligations to lenders, and under the law.
CCS Lending is required to have adequate arrangements in place to ensure you are not disadvantaged by any conflict of interest.