Credit Guide

Super Loan Exchange Pty Ltd
Credit Guide and Privacy Disclosure Consent

Thank you for allowing us to help you arrange your self-managed super fund’s (SMSF) finance needs. 

This document provides information about the services we provide to you (the trustee of your SMSF).

We are licensed to engage in credit activities other than as a credit provider under the National Consumer Credit Protection Act 2009 (NCCP Act).  The NCCP Act regulates the activity of lending, leasing, and finance broking to consumers, which may or may not apply to you.

Key information

Our full name

Super Loan Exchange Pty Ltd
(ACN 615 820 052) (“SuperLX”)

Address

Suite 69
Jones Bay Wharf
26-32 Pirrama Road
Pyrmont   NSW   2009

Phone and e-mail

[email protected]
0459 125 538

Australian Credit Licence

511265

Australian Financial
Services License

Corporate Authorised Representative (#1274020)
of Super Group Holdings Pty Ltd
AFSL # 246309


Internal Dispute Resolution Contact
 

[email protected]
0459 125 538

External Dispute Resolution
Scheme contact details

Australian Financial Complaints Authority
(Membership # 70621)
1800 931 678 (free call)

The services we provide

We arrange loans that are specifically designed for self-managed superannuation funds and which comply with limited recourse borrowing arrangements (“LRBA”) specified under the SIS Act and by the ATO.  

We work with lenders who provide complying SMSF loans.  

La Trobe Financial Pty Limited (Australian Credit Licence 392385) is the credit provider we have chosen to work with, and they will be the provider of your loan.  

We assist you in applying for a loan from the lender by seeking relevant information from you and accessing the financial data of your fund (with your permission).  We assess and provide that information to the lender, which assists them in making a fast and accurate credit decision.  Our platform greatly streamlines the process of obtaining an SMSF loan.  We do not advise you on the best lender for an SMSF loan, however, we believe our arrangements with lenders are competitive and provide you with the best execution of SMSF loans available.

We are a Corporate Authorised Representative (#1274020) of Super Group Holdings Pty Ltd (AFSL # 246309), which authorises us to provide you with general advice in relation to your fund. 

The information we need from you and the assessment we are obligated to make

As a credit assistance provider, we are obligated to undertake a preliminary assessment of your financial position to determine that the loan you seek is “not unsuitable”.  The information we have obtained through the application process will allow us to make this assessment, but we (or the lender) may have further inquiries of you.

A borrowing will be considered unsuitable if it is assessed at the time the loan is provided that your fund is unable to meet its expected financial commitments from its expected income and liquid assets over the anticipated term of the LRBA.

We expect that you (together with the assistance of your financial adviser, as the case may be) have determined or are in the process of determining the suitability of the LRBA for your fund.  We expect this determination will take into account your fund’s circumstances, investment strategy, “exit strategy” with respect to the LRBA and other legal obligations under the SIS Act and other laws.  We do not provide you with any advice in relation to these matters.

You must make your own enquiries about the value of the investment property and its potential for future growth.  Although the lender (or we) may obtain a valuation, that is for our own use and you should not rely on it.

In making our preliminary assessment we understand that circumstances may change which may require your fund to take action in relation to the LRBA.  These circumstances may include, but are not limited to:

  1. the income generated by the LRBA asset is insufficient to satisfy the payment commitments related to the LRBA loan,
  2. the long-term net returns of the LRBA no longer meet your fund’s investment objectives, or 
  3. the LRBA as part of your fund’s total assets and total obligations no longer meet its investment objectives or suit its payment obligations.

The relevant actions your fund may take may include, but are not limited to: 

  1. using other income or assets of your fund to meet payment obligations of the LRBA,
  2. applying members’ contributions (as permitted by law) to meet payment obligations of the LRBA, or 
  3. “unwinding” the LRBA by selling the LRBA asset to repay the LRBA loan.

Any such actions should be taken after seeking appropriate financial and legal advice.

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.

Fees payable by you

We do not charge you for our credit assistance services because we are paid a fee by the lender.  You may obtain from us information about a reasonable estimate of the fee and how it is worked out.   You may, however, need to pay to the lender an application fee, valuation fee, and other fees associated with settling your loan.  We will provide you with an estimate of those fees.

You may request us to arrange third party services such as lawyers and conveyancers to assist you in the preparation of documentation to enable your fund to borrow in accordance with the requirements of the law or the conveyance of your investment.  You will be advised who this party is and their fees before you commit to their services.  We will not charge you a fee for these services, but we may be entitled to a financial benefit from these parties for our referral.   

Fees and commissions received by us

As mentioned above, we expect to receive a fee from the Lender who provides finance to you as our customer and in some circumstances referral fees to parties that may provide additional services to you.  These are not fees payable by you.  You may obtain information from us about a reasonable estimate of those commissions and how the commission is worked out.

Fees and Commissions payable by us

We obtain referrals from a range of sources, but primarily from the firms that provide the accounting services to your fund.  These referral fees are generally small amounts and accord with usual business practice.  These are not fees payable by you.  You may, on request, obtain a reasonable estimate of those fees and how they are worked out.

Our internal dispute resolution scheme

We hope you are happy with our services, but if you have any complaints you should notify us by contacting our Complaints Officer by:

  1. telephoning [number]
  2. e-mailing [e-mail address]
  3. writing to [address]
  4. or by speaking to any representative of our business who will refer you to the Complaints Officer.

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.  We hope that in this way we will stop any unnecessary and inappropriate escalation of minor complaints.

Our external dispute resolution scheme

If we do not reach agreement on your complaint, you may refer the complaint to an ASIC Approved External Dispute Resolution (EDR) Scheme.  Our external dispute resolution provider is specified 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 obtain details of our privacy policy on request.

Other things you should know

We don’t make any promises about the value of any property you finance or its future prospects.  You should always rely on your own enquiries.

We don’t provide legal advice. It is important you understand your legal obligations under an LRBA, including the obligations of guarantors.  If you have any doubts, you should obtain independent legal and financial advice before you enter into any loan contract.

We don’t provide financial or investment advice.  Specifically, we don’t provide financial advice on the suitability an LRBA as it applies to your fund’s investment strategy and meeting the objectives of the members.  Before you enter into an LRBA we recommend that you discuss your investment strategy, objectives and compliance obligations with your financial adviser or suitably qualified professional.  We can provide general advice on matters relating to the arrangement of an LRBA.

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.