Pre-Assessment Application
Borrowers Please Note
If you repay your loan early you may have to pay fees. Before you sign your loan contract, make sure you understand what fees are payable on early repayment, as sometimes these fees are quite large.
Examples: If you take out a fixed rate loan, break cost fees may be payable. For all loan types, loan repayment fees or deferred (postponed) establishment fees may be payable. There may also be other fees such as a discharge fee and legal fees. ASK IF YOU WANT MORE DETAILS
In accordance with The Privacy Act 1988 and National Consumer Credit Protection Act 2010 this document provides us with the information necessary to make an informed decision for the purpose of securing finance Before proceeding to appoint Western Force Finance – Applecross to act on your behalf please read carefully to make sure have completed as much detail as possible.
Borrower1
Western Force Finance – Applecross is a Corporate Authorised Credit Representative of Western Force Finance Pty Ltd ACL No: 366678 this business is independently owned and the Western Force Finance name is used under licence from Western Force Finance Pty Ltd
Full nameAddress
Time at current address:
If less than 3 years previous req’d
Previous Address: / Date FromDate From To
Date of birth
Marital Status
Mother's Maiden Name
Phone / Mobile
Drivers Licence Number / Expire date:
Residency Status / Citizen - Permanent resident - temporary - Foreign
Employer Address:
Phone:
Employment Industry: / Employer Name:
Occupation:
Employment Type:
Start Date:
Previous Employer (require 3 years’ employment history)
Address:
Phone: / Employer Name:
Occupation:
Employment Type:
Start Date: Finish Date:
Details of nearest living relative / friend not living with you
Relationship: / Name:
Address:
Phone:
Borrower 2
Full nameAddress
Time at current address:
If less than 3 years previous req’d
Previous Address: / Date from:
Date from To
Date of birth
Marital Status
Mother's Maiden Name
Phone / Mobile
Drivers Licence Number / Expire date:
Residency Status / Citizen - Permanent resident - temporary - Foreign
Employer Address:
Phone:
Employment sector: / Employer Name:
Occupation:
Employment Type:
Start Date:
Previous Employment
(require 3 years’ employment history)
Address:
Phone: / Name:
Occupation:
Employment Type:
Start Date:
Details of nearest living relative / friend not living with you
Relationship / Name: Address:
Phone:
Company / Trust Details
Company Name / ABN/ACNDirector Names / GST registered
Company Address / Post Code
Registered Office / Post Code
Trusts
Name of Trust / Date of incorporation
Beneficiaries
Income
Applicant Name / Type on Income / Annual AmountAssets
Item - Asset / Description / Ownership / ValueApp 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
App 1 - App 2 - Joint / $
Liabilities
Item-Liability / Description / Ownership / Balance / Mth /PaymentApp 1 - App 2 - Joint
App 1 - App 2 - Joint
App 1 - App 2 - Joint
App 1 - App 2 - Joint
App 1 - App 2 - Joint
App 1 - App 2 - Joint
App 1 - App 2 - Joint
App 1 - App 2 - Joint
Borrower(s)' Dependents
Name / Date of Birth / ApplicantBorrower(s)' Credit History
Has the borrower/any of the borrowers ever had any credit defaults, judgments, or ever been bankrupt? Provide details.
In the past 12 months, have the borrower/any of the borrower's credit arrangements been in arrears? Provide details.
Does the borrower/any of the borrowers have an application for hardship with their current lender? Provide details.
Significant Changes in the future
Answer Yes/ No provide details if required.
Do you know of any foreseeable significant changes to your circumstances that will lead to changes in your ability to make contracted repayments? Provide details.
Is there anything else that may reasonably be expected to have a bearing on your application for credit knowing that if you leave such information out it may create problems in the future? Are you comfortable with your ability to make repayment under the proposed loan without difficulty? Provide details.
Understanding Interest only repayments
If you are considering making Interest only payments, you need to understand the outcome once your loan has competed the interest only term you select. Paying interest only on your home loan does not reduce the principal portion of your home loan, therefore, at the end of the interest only term your loan would not reduce at all and you will owe the same amount.
Estimated monthly living expenses
Monthly Declared Living Expenses
Living Expenses / Monthly AmountAbsolute basic living expenses
(Rates,Utilities,)
Communication and Media
Food and Groceries
Recreation and entertainment
Clothing and Personal care
Transport
Education and Childcare
Insurance
Borrowers Declaration
To the best of our knowledge the information we have provided is true and correct as of today
Signature of borrower 1 ______
Name of borrower 1 (print)
Signature of borrower 2 ______
Name of borrower 2 (print)
Date:
Appointment Letter
Names:
Date:
We/I wish to appoint David Whangapirita of Western Force Finance (WFF) as our preferred mortgage Consultant.
David has outlined our new home loan structure and we/I are satisfied with the new mortgage arrangement.
David has advised he will receive commission directly from the applicable lender. We/ I understand that there is NO additional cost for using WFF services, unless a prior arrangement has been disclosed.
David has also outlined that if this new mortgage is repaid in full within the first 24 months he will be subject to repay the commission paid by the bank for the establishment of the initial loan. Therefore, in good faith we have given our assurance it is our intention to remain with the lender for this minimum period. In the event, we do sell or refinance, we would have no hesitation in reimbursing David for any claw backs he may be charged.
Complaints Policy
If you have a complaint about the service provided to you by us, you should contact:
- Firstly, your personal loan consultant
- If no satisfactory resolve, then call David Whangapirita of Western Force Finance Pty Ltd on (08) 99330 9740
- If no satisfactory resolve, then The Credit Ombudsman Service Limited on (02) 9273 8455 or
Name:Name
Signature:signature:
Privacy Disclosure Statement and Consent
In handling your personal information,Western Force Finance Pty Ltd ACL 36678 58 Hulme Court Myaree WA 6154 (08) 933097409 and our Authorised Credit Representatives are committed to complying with the Privacy Act 1988 and the Australian Privacy Principles.
How and why we collect your personal information - We collect personal
information from you when you apply for or use our products and services.
In particular, we collect it so we can provide you with the products and services you require.
Providing Your Personal Information to Other Organisations -In providing
products and services to you it may be necessary for us to retain your personal
information and provide it to other organisations with which we conduct business. We may exchange the information with the following types of entities, some of which may be located overseas.
Organisations which provide finance or other products to you or to whom an
application has been made.
Finance consultants, accountants and auditors, conveyancers and legal advisers,
insurers, printers and mailing services.
Any associates, related entities, contractors and our mortgage aggregator.
Any industry body, tribunal, court or otherwise in connection with any complaint
regarding our services.
Any person where we are required by law to do so.
Your referees, such as your employer, to verify information you have provided.
Any person considering acquiring an interest in our business or assets.
Any organisation providing online verification of your identity.
Your rights - You may gain access to the personal information that we hold about you by contacting us. You can also contact us to obtain a copy of our privacy policy. The policy contains information about how you can access or seek correction of the information we hold about you, how we manage that information and our complaints process.
By signing this consent you agree that we may collect, use and disclose your information also as specified below;
Consent to provide your personal information to a credit reporting body (CRB) if we act as your agent to obtain a report or information about your consumer or commercial credit worthiness from a (CRB), we may disclose personal information such as your name, date of birth, and address to the CRB to obtain an assessment of whether that personal information matches information held by it.
We do appoint you as our agent to obtain a credit report on my/our behalf / Y / NConsent to receive marketing Information - If you consent to us doing so, we may provide you with information from time to time about new products and services available to you from us or other businesses with whom we have a relationship. Your consent to our providing this information to you will be implied unless you notify us that you do not wish to receive this information.
We do wish to receive marketing material / Y / NConsent to receive documents electronically - If you consent to us providing you with documents by electronic communication, you confirm that paper documents may no longer be given and electronic communications must be regularly checked for documents. Consent to the giving of documents by electronic communication may be withdrawn at any time.
We do wish to receive documents electronically / Y / NIf your personal information is not provided - If you do not provide us with all of the information we request we may be unable to supply to you the product or service that you require.
Name / Signed / DateUnderstanding Your Choice of a Fixed Rate Loan
Client(s): ………………………………......
I have chosen to apply for a fixed rate loan. The following points have been explained to me to my satisfaction and have contributed to my decision to pursue this type of loan:
1) A fixed rate is by its very nature fixed and will not decrease if variable rates do.
2) Significant break costs may be incurred if any or all the fixed rate loan is repaid or discharged before the end of the fixed rate term. The lender is expected to include a formula for the calculation of the break cost in its loan documentation. However, the amount of break cost would be subject to several factors which are likely to vary over time. Hence it is not possible to accurately predict what that cost may be now.
3) A redraw facility and/or an offset account will not be available on the fixed rate for unless advised differently by the Broker or Lender.
4)A fixed rate is not an appropriate option if there is any intention or foresight that the loan may be repaid partially or in full for any reason during the fixed rate term.
5)Extra repayments may not be possible or may be limited to a fixed amount per year. The policy of the Lender with regards to this matter has been explained to me/us.
6) Fixed rates on offer vary ie: increase or decrease during the period from the date of the initial loan application right up to the settlement date. Therefore, the fixed rate will be determined by the rate applicable on the day of settlement.
7) You have an option to lock in your fixed rate before settlement. This normally involves a ‘Rate-lock fee”.
I/we have considered the pros and cons of locking in the fixed rate, the cost of requesting this option, the rate lock expiry date and its purpose before making a final decision on this matter.
Client(s) signatures: ……………………………………………………
Client(s) signatures: …………………………………………………….
Date: ……………………………………………………
Western Force Finance - Applecross