360 MMS Credit Guide
Important information about our credit services
Kuone Pty Ltd ABN 81 621 683 672 trading as 360 MMS · Australian Credit Licence 504193
1About us
Kuone Pty Ltd trading as 360 MMS (360 MMS, we, us, our) holds Australian Credit Licence 504193 under the National Consumer Credit Protection Act 2009 (NCCP Act). This Credit Guide covers the credit services we provide under that licence.
| Licensee | Kuone Pty Ltd trading as 360 MMS |
|---|---|
| ABN | 81 621 683 672 |
| Australian Credit Licence | 504193 |
| Address | Level 19, 180 Lonsdale Street, Melbourne VIC 3000 |
| Telephone — customers | 1800 519 609 or +61 3 7003 8909 |
| Telephone — brokers and partners | +61 3 7003 8919 |
| clientservice@360mms.com.au | |
| Website | www.360mms.com.au |
Riyadh Financial Services (Islamic Finance Partners Pty Ltd) is one of our authorised credit representatives. It gives its customers its own Credit Guide.
2The services we provide
360 MMS is a mortgage manager. We offer and manage our own range of home, investment, SMSF and commercial property finance products, including Star, Onyx and Folio. We market and manage these products in-house. In particular, we:
- suggest our products to you and help you apply for them, either directly or through a broker or other referrer;
- manage your relationship with us and your funder day to day once your loan settles; and
- administer loan contracts that are branded or co-branded 360 MMS.
We only offer our own range of products, so we do not compare or recommend products from across the market. If you would like a broader comparison, you may wish to speak with a mortgage broker.
3Who funds our products
Our loans are provided by funders under written agreements with us. Under these agreements the funder provides the loan, a program manager may act for the funder, and 360 MMS, as mortgage manager, manages your relationship with them day to day. These are the credit providers we work with:
| Product range | Funder (credit provider) | Program manager |
|---|---|---|
| Star | Perpetual Corporate Trust Limited ABN 99 000 341 533 | Columbus Capital Pty Limited ACN 119 531 252 trading as Origin Mortgage Management Services |
| Onyx | BC Invest Loans Pty Ltd ACN 646 785 211 | BC Invest Loans Pty Ltd ACN 646 785 211 |
| Folio, including Folio Equity Share | First Federal Pty Limited ACN 136 380 526 and First Federal Home Loans Pty Limited ACN 160 925 146 | First Federal Pty Limited ACN 136 380 526; for Folio Equity Share, Home Affordability Solutions Pty Ltd ABN 49 611 323 169 |
Mortgage manager for all of these products: Kuone Pty Ltd trading as 360 MMS (ACN 621 683 672).
4Our responsible lending obligations
Under the National Consumer Credit Protection Act 2009 (NCCP Act), before we help you obtain a loan, or an increase to your loan limit, we must make sure it is not unsuitable for you. To do this, the law requires us to:
- make reasonable inquiries about your requirements and objectives;
- make reasonable inquiries about your financial situation; and
- take reasonable steps to verify your financial situation.
A loan will be unsuitable if, at the time of our assessment, it is likely that you could not meet your repayments, or could only meet them with substantial hardship, or that it will not meet your requirements and objectives. If you could only meet your repayments by selling your home, the law presumes this would cause substantial hardship unless the contrary is shown.
This is why we ask you for detailed information and supporting documents. It is very important that the information you give us is complete and accurate.
Getting a copy of our assessment
If you enter into a loan with our assistance, or your loan limit is increased, you can ask us for a copy of our preliminary assessment of whether it is not unsuitable for you. You can ask at any time within 7 years. We will give it to you free of charge within 7 business days if you ask within 2 years, or within 21 business days if you ask after that.
5Fees payable by you
We may charge fees for our services. Any fee payable to us, and any fees payable to the funder or to third parties (for example valuation, settlement or government fees), will be set out in your 360 MMS product term sheet and loan documents before you are bound by them.
We do not charge you for this Credit Guide or for a copy of our assessment.
6Fees we receive from funders
The funder of your loan pays us a servicing fee for managing your loan day to day. This fee is paid by the funder and is not payable by you.
On request, we will give you a reasonable estimate of this fee and how it is worked out.
7Commissions we pay to others
We receive referrals from a range of sources, and we may pay a commission or fee to the person or business that referred you to us. These may include:
- mortgage brokers and aggregators;
- financial planners and accountants;
- lawyers;
- real estate agents; and
- call centre operators.
These payments are not payable by you. They are generally a percentage of the loan amount or a fixed referral fee, in line with usual industry practice. If a broker helps you, they must give you their own Credit Guide and tell you about the commissions they receive. On request, we will give you a reasonable estimate of any commission we pay and how it is worked out.
8If you are in financial difficulty
Your circumstances can change. If you are having trouble meeting your repayments, or expect to, please contact us as early as possible. We will work with you and your funder to look at the options available, which may include a hardship arrangement. You can also speak with a free financial counsellor through the National Debt Helpline on 1800 007 007.
9If you have a complaint
We aim to build strong and lasting relationships with our customers, and we welcome your feedback. If you are not happy with our products or service, please tell us so we can put it right. Making a complaint is free.
Contact us first
| Attention | Complaints Officer, 360 MMS |
|---|---|
| Telephone | 1800 519 609 or +61 3 7003 8909 |
| clientservice@360mms.com.au | |
| Post | Complaints Officer, 360 MMS, Level 19, 180 Lonsdale Street, Melbourne VIC 3000 |
Please give us as much detail as you can. We will try to resolve your complaint straight away. If we can’t, we will:
- acknowledge your complaint within 1 business day of receiving it, or as soon as practicable;
- investigate it fairly, keep you informed and tell you who is handling it; and
- give you our final response in writing, with the reasons for our decision, within the time ASIC requires: 30 calendar days, or 21 calendar days if your complaint is about financial hardship or a request to postpone enforcement action.
If we need more time, for example because your complaint is complex, we will write to you before the deadline to explain why, tell you when we expect to finish, and let you know about your right to complain to AFCA.
If you need help to make a complaint, for example an interpreter or the National Relay Service, tell us and we will arrange it. You can also ask someone you trust, such as a family member, financial counsellor or lawyer, to contact us for you.
10Taking your complaint to AFCA
If you are not satisfied with our response, or we have not resolved your complaint within 30 calendar days, you can take it to the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers. Kuone Pty Ltd is a member of AFCA, membership number 46066.
| Website | www.afca.org.au |
|---|---|
| info@afca.org.au | |
| Telephone | 1800 931 678 (free call) |
| Post | Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001 |
Time limits may apply to complain to AFCA, so you should act promptly or check the AFCA website to find out if, or when, the time limit relevant to your circumstances expires.
11Your privacy
We handle your personal information in line with the privacy consent you sign with your application and our Privacy Policy. You can ask us for a free copy of our Privacy Policy at any time.