Western Australian Consolidated Regulations Western Australian Consolidated Regulations[cl. 8.4]
Form 1
NOTICE
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Details of Parties to the Loan |
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Finance Broker’s name, Licence Number and
Address |
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Lender(s) Name and Address |
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Borrower(s) Name and Address |
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Guarantor(s) Name and Address (if
applicable) |
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Name of Party/Parties for whom the Finance Broker
acts |
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Warning: If a Finance Broker acts for more than one
Party, this may lead to a conflict of interest or duty. Before signing this contract you are entitled to appoint
another Finance Broker to negotiate the loan for you. |
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Amount and terms of Finance |
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Broker commission |
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Warning: Under the Finance Brokers Control
Act 1975 section 43(1)(b), a Finance Broker is not entitled to
receive any commission, reward or other valuable consideration in respect of
services rendered unless the broker has first been appointed in writing to act
in that capacity by the person to be charged therewith or some person lawfully
authorised to sign the appointment on their behalf. |
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Borrower and Guarantor Financial Position |
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Borrower’s Net Assets and Details of Ability to
Service Interest Payments ($) |
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Guarantor’s Net Assets and Details of Ability to
Service Interest Payments ($) |
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Refer Attachment 1 for detailed Statements of
Assets and Liabilities and Available Income for all borrowers and guarantors
(Clause 12.10(a)). Refer Attachment 2 for copy of Insolvency and
Trustee Service Australia report concerning all borrowers and guarantors
(Clause 12.10(c)). |
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Loan Details |
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Purpose for which loan is required |
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Refer Attachment 3 for detailed budget outlining
specifically how all funds will be applied
(Clause 12.7). |
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Amount of Loan $ |
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Amount of Loan used to repay existing Loans
$ |
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Refer Attachments 1 and 3 for specific details of
existing loans. |
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Term of Loan |
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Date of Advance |
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Interest Rate |
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Commencement Date of Interest |
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When interest is payable |
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Penalty Rate |
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Terms of Repayment/Repayment Dates |
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Rights of Redraw and Discharge |
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Insurance Requirements |
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Management agreement Required/Not Required |
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Property Security Information |
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Security required |
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Description of Mortgaged Property |
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Refer Attachment 4 for current true copy of
Duplicate Certificate of Title (Clause 12.2). |
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Purchase Price of Property (where
relevant) $ |
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Priority of Mortgage (i.e. first, second mortgage) and
details of all prior encumbrances |
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Ratio of loan to valuation of mortgaged property calculated
on an “as is valuation” |
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Refer Attachment 5 for copies of valuations, all
instructions given to the valuer and the identity of the person that gave the
instructions (Clauses 12.3 to 12.6) |
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Responsibility for preparation and custody of security
documents |
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Additional Action to be Taken by the Finance Broker |
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Action the Finance Broker will take to notify lenders of a
loan default |
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The fee to be charged by the Finance Broker or debt
collecting agency in pursuing the borrower for payment $ |
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NOTICES TO ALL PARTIES TO THE LOAN TRANSACTION |
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If property is offered as security for a loan, lenders are
entitled to appoint a valuer of their own choice. If the Finance Broker acts for one Party, the other Party
should seek independent financial, legal and valuation advice. If the Finance Broker acts for both Parties, each Party
should seek independent financial, legal and valuation advice. |
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Signature of Lender(s) |
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(Name) |
(Name) |
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(Address) |
(Address) |
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………………………………………... (Date) |
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Signature of Borrower(s) |
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(Name) |
(Name) |
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(Address) |
(Address) |
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………………………………………... (Date) |
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Signature of Guarantor(s) |
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(Name) |
(Name) |
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(Address) |
(Address) |
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………………………………………... (Date) |
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Signature of Finance Broker |
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(Name) |
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………………………………………... ……………………………………….. |
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(Address) |
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………………………………………... (Date) |
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1 This is
a compilation of the Finance Brokers Control (Code of Conduct) Regulations
2007. The following table contains information about those regulations.
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Citation |
Gazettal |
Commencement |
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29 Jun 2007 p. 3111‑44 |
29 Jun 2007 |
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Finance Brokers Control (Code of Conduct) Amendment
Regulations 2011 |
30 Jun 2011 p. 2645 |
r. 1 and 2: 30 Jun 2011
(see r. 2(a)); |