Legal
Credit Guide
About this guide
This credit guide provides you with the key information you need to make an informed and confident choice when engaging our services. We are licensed to arrange loans and leases under the National Consumer Credit Protection Act 2009 (NCCP Act). The NCCP Act regulates the activity of lending, leasing, and finance broking.
Noddle Pty Ltd is a Jacaranda Finance Group company.
Noddle does not provide credit assistance in relation to credit contracts secured by a mortgage over residential property.
1. Key information
| Our full name | Noddle Pty Ltd ACN 643 806 759 |
|---|---|
| Trading as | Noddle |
| ABN | 63 643 806 759 |
| Registered office | 1/339 Coronation Drive, Milton QLD 4064 |
| Phone | 0404 198 137 |
| hello@noddle.com.au | |
| Website | www.noddle.com.au |
| Australian Credit Licence no. | 526746 |
| FBAA membership no. | 362825 |
| AFCA membership no. | 81857 |
| Internal Complaints Officer | Josh Wessels, Internal Complaints Officer 1/339 Coronation Drive, Milton QLD 4064 Email: joshw@noddle.com.au |
| External dispute resolution scheme | Australian Financial Complaints Authority Online: www.afca.org.au Email: info@afca.org.au Telephone: 1800 931 678 (free call) Mail: GPO Box 3, Melbourne VIC 3001 |
2. Services we provide
We will help you choose a loan or lease which we believe is suitable for you and which meets your requirements and objectives. We will provide you with information on a broad range of lenders and make a recommendation based upon what you tell us is most important to you.
Once you have chosen a loan or lease that is suitable for you, we will help you obtain an approval. We source finance from a panel of financiers. Our current panel comprises the financiers listed below.
Personal Loans
- Alex Bank
- Jacaranda Finance
- Latitude
- Money3
- MoneyMe
- MoneyPlace
- NOW Finance
- Pepper Money
- Plenti
- Society One
- Wisr
Asset Finance
- Affordable Car Loans
- Alex Bank
- AMMF
- Angle Finance
- ANZ
- Azora
- Branded Financial Services
- Capital Finance
- Commonwealth Bank
- Dynamoney
- Early Pay
- Finance One
- Firstmac
- Latitude
- Liberty
- Maple
- Medfin
- Metro
- Metro Consumer
- MoneyMe
- MoneyMe AutoPay
- Money3
- Moneytech
- NOW Finance
- Pepper Money
- Plenti
- Resimac
- Scottish Pacific
- Selfco
- Shift
- Westpac
- Wisr
3. Our most frequently used lenders
This section provides details of the 6 most frequently used lenders by the licensee over the last financial year. This is not intended to be a comprehensive list, as there are other lenders on the current panel that may be utilised.
| # | Lending institution / financier | % of loans settled (prev. FY) |
|---|---|---|
| 1 | Plenti | 20% |
| 2 | Wisr | 20% |
| 3 | NOW Finance | 20% |
| 4 | Latitude | 20% |
| 5 | MoneyPlace | 10% |
| 6 | MoneyMe | 10% |
The information above is generated based on a full financial year, so in some circumstances a full year’s data may not be available. In these instances, the field will be blank or there will be limited information; however, you can request further details from your broker.
4. Our responsible lending obligations
Under the NCCP Act, we are obliged to ensure that any loan or principal increase to a loan we arrange and any lease we enter with you is suitable to your needs and objectives. To decide this, we will need to ask you some questions in order to assess whether the loan or lease meets these requirements. The law requires us to:
- Make reasonable enquiries about your requirements and objectives
- Make reasonable enquiries about your financial situation
- Take reasonable steps to verify that financial situation
In order for us to discharge our obligation in assessing your application for credit assistance, it is important that we have all available, accurate, current and relevant information. If you are unable for whatever reason to provide the information required to assess your personal and financial circumstances, we may not be in a position to make a recommendation to you.
Credit will be unsuitable if, at the time of the assessment, it is likely that at the time the credit is provided:
- You could not pay, or could only pay with substantial hardship
- The credit will not meet your requirements and objectives
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 therefore very important that the information you provide us is accurate.
We must provide you with a copy of our preliminary credit assessment of your application if you ask within 7 years of when we assist you. We are only required to give you a copy of the credit assessment if we give you credit assistance.
5. Conflicts of interest
In the case of actual, potential, or perceived conflicts of interest, we will disclose these to you and prioritise your interests ahead of our own in all circumstances. This includes giving priority to your interests in situations where we know, or ought reasonably to know, there is a conflict between your interests and the interests of ourselves or a third party.
We will document and explain the reasons for the recommendations we make to you, including how the product we recommend aligns with your requirements and objectives.
6. Fees payable by you
We may charge a fee for our services. More details about any fees payable by you will be set out in a Quote and Proposal document which we will give you before a finance application is lodged. You may obtain from us information about how these fees and charges are worked out and a reasonable estimate of those fees. You may also need to pay the financier’s application fee, valuation fees, and other fees.
7. Commissions received by us
We may receive commissions from the financiers who provide you with finance. You do not pay these commissions. You may ask us to tell you how these commissions are worked out and to give you a reasonable estimate of them. These commissions may differ from lender to lender at the discretion of the agreement in place.
8. Commissions payable by us
We source referrals from a broad range of sources. For example, we may pay fees to call centre companies, real estate agents, accountants, or lawyers for referring you to us. These referral fees accord with usual business practice and are not payable by you. We will disclose the nature and amount of these and you can obtain additional information about these commissions by asking us.
Related-party disclosure
Noddle Pty Ltd is a member of the Jacaranda Finance Group (JFG). One of the lenders on our panel, Jacaranda Finance, is a related JFG company. We may receive referrals from, or pay referral fees to, related JFG entities. Where we recommend a product from a related party, we will disclose this relationship to you and we will continue to prioritise your interests ahead of our own. You can obtain further information about these arrangements by asking us.
9. Other benefits
We maintain a centralised register recording all forms of gifts, hospitality and other related remuneration received by our brokers. It is available to you upon request.
10. Tiered services
Our brokers may have access to tiered servicing arrangements with certain credit providers. A tiered servicing arrangement provides non-monetary benefits, such as preferential service, which can assist your broker in achieving better outcomes for you. Examples include faster reviews by lender credit analysts and/or faster application turnaround times. The list of any tiered servicing arrangements is available on request. Where your broker makes a recommendation to a lender with whom they have one of these arrangements, this will be disclosed to you.
11. Our internal dispute resolution scheme
We hope you are delighted with our services, but if you have any complaints you should first notify your broker. If the complaint can’t be resolved, then please contact our Internal Complaints Officer using the details in the Key Information section above.
You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing. When we receive a complaint, we will attempt to resolve it promptly. In cases where your complaint will take longer than 30 days to resolve, we will notify you in writing.
12. Our external dispute resolution scheme
If we do not reach an agreement on your complaint, you may refer the complaint to an ASIC-approved External Dispute Resolution (EDR) scheme. Our external dispute resolution provider is the Australian Financial Complaints Authority, specified in the Key Information section above. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. You can obtain further details about our dispute resolution procedures and a copy of our privacy policy on request.
13. Things you should know
We don’t make any promises about the value of any asset you finance with us or its future prospects. You should always rely on your own enquiries.
We don’t provide legal or financial advice. It is important you understand your legal obligations under the loan and the financial consequences. If you have any doubts, you should obtain independent legal advice before you enter into any loan contract.
14. National Debt Helpline
If you’re having difficulties managing your debts, you can seek free assistance from the National Debt Helpline.
Call 1800 007 007 or visit ndh.org.au.
15. Questions?
If you have any questions about this credit guide or anything else about our services, just ask at any time. We’re here to help you.