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Prosperitii Property Services

ABN: 56645976745

Suite 405, 74 pitt Stree, Sydney, NSW, 2000

0433 458 185

nc@prosperitii.com.au

CONNECTIVE GROUP PTY LTD.

ACN 161 731 111 

CRN  558600

Authorized under Australian Credit 

License Number 389328

www.connective.com.au

This document provides you with information relating to our activities and those of our credit representatives. It contains information about various fees and charges that may be payable by you to us, as well as about certain commissions we may receive from a licensee when we are acting as a credit representative, or we pay to certain third parties. It also contains information about what you should do if you have a complaint or dispute in connection with our services as a credit representative.

A ‘credit representative’ is a person who has been authorized by a credit licensee to engage in specified credit activities on behalf of the licensee. 

We give you credit assistance when:

• we assist you to apply for a particular loan or lease;
• we suggest you apply for a particular loan or lease (or suggest you apply for an increase to an existing loan); or
• We suggest you remain in your current loan or lease.

Before we provide credit assistance to you, we assess whether the particular loan or lease is suitable for you. To do this, we need to make reasonable inquiries and verify that:

• the loan or lease or increase will meet your requirements and objectives; and
• you can meet the proposed repayments. We won’t be able to give you credit assistance if our assessment shows that:
• you won’t be able to meet the proposed repayments without substantial hardship; or
• the loan or lease won’t meet your requirements or objectives.

If we provide you with credit assistance, you can ask us for a copy of our assessment any time up to 7 years after we provide you with a credit assistance quote. To request a copy please contact us. We will provide you with a copy:

• within 7 business days after the day we receive your request – provided you make the request within 2 years of the date of our credit assistance quote; or
• otherwise, within 21 business days after the day, we receive your request.

We act as a credit representative for Prosperitii Property Services. We are authorized to engage in credit activities including providing credit assistance on its behalf. 
Subject to meeting credit criteria, we are able to assist you to obtain loans and leases for you from a broad range of lenders and lessors through our Aggregator. Our mortgage Aggrogator, Connective Group Pty Ltd does not require us to recommend any particular lender and our Aggregator does not set any quotas or obligations on us relating to recommending any particular lender.

• NAB
• Advantege
• Macquarie 
• Commonwealth Bank of Australia
• St George
• ANZ
• Westpac

We obtain mortgage aggregation services from CONNECTIVE GROUP PTY LTD. CONNECTIVE GROUP PTY LTD provides services at arm’s length to our business which includes IT systems, loan information and lodgement systems, training and development, commission processing, conferences and professional development events, and assistance with regulatory and compliance obligations. 


In consideration of the services CONNECTIVE GROUP PTY LTD we pay fees to CONNECTIVE GROUP PTY LTD who retains some of the commission panel lenders pay on loans we arrange. Our business is owned and managed independently by CONNECTIVE GROUP PTY LTD.

We may receive remuneration from our Licensee and/or CONNECTIVE GROUP PTY LTD  and do not charge you any fees or charges in relation to acting as a credit representative.

We may receive remuneration from our Licensee and/or aggregator and do not charge you any fees or charges in relation to acting as a credit representative.

You may have to pay other fees and charges (such as application fees, valuation fees and other fees) to the lender, lessor or other parties. You should review the disclosure documents and your loan contract or lease for further details of any such fees and charges.

Our Licensee has been appointed by CONNECTIVE GROUP PTY LTD  as its agent to receive commissions from lenders and lessors and to pay us commissions in relation to loan contracts or leases for which we act as a credit representative and provide credit assistance. The total amount of commission we may receive in relation to your loan or lease may vary depending on the lender or lessor, the term, the features, the amount of the loan or lease you ultimately choose and the amount and timing of the repayments that you make.

Upfront commission payable by lenders in relation to home loans and investment property loans is calculated as a percentage of the loan amount and is generally in the range of 0.65% and 0.7% of the loan amount. It is usually paid after the settlement of the loan.

Trail commission payable by lenders in relation to home loans and investment property loans is generally calculated regularly (monthly, quarterly, bi-monthly or annually) on the outstanding loan balance and is paid in arrears. The trial commission payable by lenders is generally in the range of 0.165% and 0.275% per annum of the outstanding loan amount.

Upfront commission payable by lessors in relation to leases is calculated as a percentage of the lease amount and is generally in the range of 1.65% and 3.3% of the lease amount. It is usually paid after the settlement of the lease. Trail commission is generally not payable in relation to leases.

Further details of the commission earned by us will be included in the credit proposal disclosure document we will provide to you at the same time as we provide you with credit assistance.

You can request information from us about the fees that we are likely to receive, how those fees are calculated, and our reasonable estimate of the fees or commissions that will be payable.

From time to time we or CONNECTIVE GROUP PTY LTD may receive a benefit, directly by way of a cash bonus or additional commissions or indirectly by way of training, professional development days or sponsorship if we or CONNECTIVE GROUP PTY LTD. write a particular volume of loans offered by those lenders.

If a third party has introduced you to us or referred you to us, we may pay them a commission or a fee. More detail about those payments will be set out in the credit proposal disclosure document we will give to you before we provide you with credit assistance.

We may obtain referrals from a range of sources, including real estate agents, accountants, financial planners or other people.

Further information about referral commissions, including our reasonable estimate of the amount of any commission payable and how it is calculated is available from us on request and will be included in the credit proposal disclosure we will supply to you when we provide you with our credit assistance.