This Credit Guide provides you with important information about Cornell Mortgages and the services we provide. It contains information about your rights and the obligations we have to you as a consumer under the National Consumer Credit Protection Act 2009.
1. About Us
Cornell Mortgages Pty Ltd (ABN 95 700 083 101) (Credit Representative Number 580756), Cameron Cornell (Credit Representative Number 580759) and Matthew Cornell (Credit Representative Number 580757) are credit representatives of Purple Circle Financial Services Pty Ltd ABN 21 611 305 170 Australian Credit Licence Number 486112. Cameron Cornell and Matthew Cornell provide credit assistance to you.
2. Our Services
We provide credit assistance to you by assessing your needs and objectives and recommending suitable credit contracts from our panel of lenders. We act as an intermediary between you and the lenders, helping you to apply for and obtain credit.
3. Our Panel of Lenders
We source finance from a broad panel of lenders, including major banks, second-tier lenders, and specialist credit providers. We will provide you with information about the specific lenders we use most frequently upon request.
4. Fees and Charges
We do not generally charge you a fee for our credit assistance services. If a fee is payable, we will disclose this to you in a written quote before providing our services. You may be required to pay fees and charges to the lender, such as application fees, valuation fees, or settlement fees. These will be detailed in the credit proposal we provide to you.
5. Commissions
We may receive commissions from the lenders on our panel if you settle a loan with them. These commissions are not paid by you, but by the lender. The amount of the commission varies depending on the lender and the size of the loan. We will provide you with an estimate of the commission we may receive in the credit proposal.
6. Responsible Lending Obligations
Under the National Consumer Credit Protection Act 2009, we must not provide credit assistance to you by recommending a credit contract or assisting you to apply for a credit contract if the contract is unsuitable for you. A contract will be unsuitable if:
- It does not meet your requirements or objectives; or
- You will be unable to meet the financial obligations under the contract, or could only do so with substantial hardship.
To ensure we meet these obligations, we will make inquiries about your financial situation, requirements, and objectives. We will also take reasonable steps to verify this information.
7. Requesting a Copy of the Assessment
You can request a copy of our preliminary assessment of your credit application at any time up to 7 years after we provide credit assistance to you. We will provide this to you free of charge.
8. Dispute Resolution
We have an internal dispute resolution process in place to handle any complaints you may have. If you have a complaint, please contact us first. If we are unable to resolve your complaint to your satisfaction, you can escalate the matter to our external dispute resolution scheme, the Australian Financial Complaints Authority (AFCA).
For more information on our dispute resolution process, please refer to our Complaints & Dispute Resolution page.
9. Contact Us
If you have any questions about this Credit Guide or our services, please contact us:
Cornell Mortgages
Email: cameron@cornellmortgages.com.au or matthew@cornellmortgages.com.au
Phone: 0428 016 395 or 0434 103 633