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RedZed explains: what licensing means for you

29 June 2017,


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If you’ve found yourself considering a specialist lending option, you’ve no doubt already run into a few of the misconceptions surrounding this term. In this post we’ll help you understand the protections in place that safeguard your journey with specialist lending and specialist lenders.

Licence to lend

In recent years the government has introduced licensing as a means to protect a wide range of Australian’s from a wide range of lenders and brokers that may not have had your interests at heart.

RedZed has both an Australian Credit Licence (ACL) and an Australian Financial Services Licence (AFSL). We operate under conditions set by the Australian Securities & Investments Commission (ASIC). These bodies and accreditations provide the legal foundations necessary to protect you as a consumer. We recommend that if you are looking at a loan that is deemed to be regulated (eg to by a house in your individual name) you should not be engaging with anybody that does not operate within the bounds of licensing. The key thing to look for is whether your broker can provide you with either an Authorised Representative or a Credit Representative.

In order to obtain a licence ASIC undertake rigorous background checks and all licensees go through specific training in credit activities, systems and procedures review and many more criteria designed to give you peace of mind as a borrower.

Our commitment

Because of our focus on collaborative and transparent service, RedZed will only work with brokers whom not only meet the requirements of these protections, but who have a demonstrated commitment to tailored service throughout their careers. For us, Specialist Lending is about human criteria; the personal circumstances and the uniqueness of the needs of the self employed that the rigid banks can’t tailor their service too. So as well as making sure our work is consistent with legal protections; we’ve made sure it’s consistent with the needs and realities of self-employed Australian driven by ambition, who really needs a more human approach to their problems.

 

 All loan applications and requests subsequent to settlement are subject to RedZed’s lending criteria and lending policy which may be amended from time to time without notice. Fees, charges and conditions apply.

Any content on this website is general only and does not take into account your particular circumstances and needs. Before acting on any content you should assess or seek advice as to whether it is appropriate for you.

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For Customers

When it comes to self-employed people in Australia, we know that one-size, or one style, does not fit all. We’re small enough to listen, and big enough to help. We’re RedZed.

 

For Brokers

Everyone at RedZed is committed to doing all that we can to enable you to deal direct with us in a simple, common sense manner. Everything that you will need to submit a loan application to us is contained within this section.