Credit Guide

Who We Are

Capital Legacy is authorised to provide credit assistance under the National Consumer Credit Protection Act 2009 (NCCP Act). We act as your mortgage broker — we do not lend money directly but instead help you find and apply for a suitable loan from our panel of lenders.

What Credit Assistance We Provide

We can assist you by:

• Suggesting or recommending a credit contract
• Assisting you to apply for a credit contract
• Increasing the credit limit on an existing credit contract

Before providing credit assistance we are required by law to make a preliminary assessment about whether the credit contract will be “not unsuitable” for you based on your objectives, financial situation, and needs.

Our Fees and Commissions

We do not charge you a fee for our mortgage broking services in most cases. Instead, we receive a commission from lenders when a loan is settled. Commissions are paid by the lender, not by you.

Commissions generally consist of:

• Upfront commission: typically 0.50%–0.70% of the loan amount (excl. GST), paid by the lender when your loan settles.
• Trail commission: typically 0.15%–0.20% per annum of the outstanding loan balance, paid monthly while your loan remains on the books.

We will provide you with the specific commission amounts applicable to any loan we recommend in our Credit Proposal Disclosure document before you proceed.

Best Interests Duty

As mortgage brokers, we are subject to a Best Interests Duty. This means we must act in your best interests when providing credit assistance. We will prioritise your needs over our own commercial interests when making recommendations.

Our Lender Panel

We have access to a panel of lenders including major banks, non-bank lenders, and specialist lenders. We will only recommend products from lenders on our panel. A full list of our lender panel is available on request.

Your Rights

You have the right to:

• Request a copy of our preliminary assessment at any time up to 7 years after we provided credit assistance
• Receive a Credit Proposal Disclosure document before we provide credit assistance
• Make a complaint — see our Complaints page
• Access your personal information — see our Privacy Policy

Complaints and Disputes

If you have a complaint about our credit assistance, please refer to our Complaints page for our full dispute resolution process, including how to contact the Australian Financial Complaints Authority (AFCA).