Equipment Financing Australia

Credit Guide

Key information about our licensing, obligations, fees, commissions, and dispute resolution.

This Credit Guide is designed to provide you with key information about the credit services offered by Equipment Financing Australia (a subdivision of Model Mortgages Pty Ltd) and your rights before you choose to use our services.

1. About Us

Equipment Financing Australia is a subdivision of Model Mortgages Pty Ltd:

  • • Licensee: Model Mortgages Pty Ltd
  • • ABN: 82 108 681 063
  • • Australian Credit Licence (ACL): 387460
  • • Phone: +61 468 016 210
  • • Email: hello@modelmortgages.com.au

2. Our Obligations to You (Best Interests Duty)

Where the law applies, we are required to act in your best interests when suggesting consumer credit products. We must not provide or suggest credit assistance if the credit contract is unsuitable for you. A contract is unsuitable if:

  • • It does not meet your requirements or objectives; or
  • • You would be unable to meet your financial obligations under the contract without substantial hardship.

For regulated consumer credit, we conduct a preliminary assessment of suitability before assisting you. You can request a copy of this assessment at any time within seven years of us providing credit assistance. Note that commercial asset finance for business purposes is generally not regulated consumer credit; we will tell you how your finance is being arranged.

3. Lender Panel

We draw from a broad panel of commercial and consumer lenders to find the right structure and a competitive rate for your situation. The lenders we work with include major Australian banks, regional banks, and specialist non-bank financiers.

4. Fees and Charges

We do not typically charge you a fee for our finance broking services. We are compensated by the lenders via commission payments upon successful settlement of your finance. If any specialised fee applies to your scenario (for example, for certain commercial or complex finance), we will discuss and agree upon this in writing prior to commencing work.

5. Commissions Received By Us

Lenders pay us an upfront commission (based on the amount financed) and may pay an ongoing trail commission (based on the outstanding balance). These commissions are paid directly by the lender out of their margins and are not added to your finance or interest rate.

6. Dispute Resolution Procedures

We hope you are delighted with our service. However, if you have any complaints, we have internal and external dispute resolution procedures in place to resolve the issue quickly and fairly.

Internal Dispute Resolution (IDR)

If you have a complaint, please contact our Complaints Officer at the contact details above. We will acknowledge your complaint promptly and aim to resolve it within 30 days.

External Dispute Resolution (EDR)

If you are not satisfied with our response, you can refer the matter to our independent external dispute resolution scheme, the Australian Financial Complaints Authority (AFCA). This is a free service provided to consumers:

  • • Scheme: Australian Financial Complaints Authority (AFCA)
  • • Phone: 1800 931 678
  • • Website: afca.org.au
  • • Postal Address: GPO Box 3, Melbourne VIC 3001