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Responsible Lending

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Sojitz Financial Services Australia Pty Ltd t/as “Approve Financial” is a responsible licensee.

In line with the NCCP Act 2009, Approve Financial approach to responsible lending is as follows

We will: 

  • ensure compliance with the National Consumer Credit Protection Act and associated regulations, as well as guidance published by ASIC and the Australian Financial Complaints Authority (AFCA).

  • ensure our finance consultants seek and verify information about our customer’s requirements and objectives and financial situation; and

  • ensure that Approve Financial staff and representatives only recommend loans that are not unsuitable for a customer.

  • encouraging customers to seek independent advice.

Entering a credit contract is an important decision. Approve Financial encourages you to seek independent legal and financial advice as part of your decision-making process.

Credit Guide

A credit guide provides preliminary information about us to the consumer and is given to them before we engage in credit activities.

Credit Quote

A quote tells you the estimated cost of using our services if we charge a fee. Before we provide credit assistance, we must provide a quote, and you to have accepted the quote by signing and dating it. We also provide you a copy of the signed accepted quote.

Credit Proposal Document

This document provides information about the recommended product and lender – such as expected repayment amounts, total cost of the loan, upfront fees, and estimated commissions.

We are required to give you a credit proposal document when recommending a particular credit contract at the same time we provide credit assistance.

Preliminary Assessment

This is a preliminary or final written assessment that a credit contract or consumer lease is ‘not unsuitable’ for the consumer. We are required to provide you with a free copy of the written assessment if you ask for one within seven years of entering into the credit contract.

‘Money Smart’ is an initiative from the Australian Securities and Investment Commission (ASIC) that can help you with accessing financial information and free financial tools.

http://www.moneysmart.gov.au

Sojitz Financial Services Australia Pty Ltd t/as “Approve Financial”
Australian Credit Licence No 515 399 

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