Credit Disclosure Report

This Credit Disclosure Report provides you with the key information that you need to know to make an informed and confident choice when engaging our products and services.

This Disclosure Report summarises our organisational goals and standards, our product offerings, any fees, charges or commissions that there are and what you can do should you have a complaint. Please ask if you need more information or clarification.

This Disclosure Report has been generated by:

Organisation: Gemexx Pty Ltd T/as The Mortgage Approval Company - ACR: 386809

Address: 9 Queen Street, Melbourne, VIC, 3000

Phone: 1300 855 670 | Fax: 1300 855 670 | Mobile: 0418-998-696

Email Address:


Australian Credit Licence:Australian Finance Group Ltd (ACL# 389087)



Gemexx Pty Ltd T/as The Mortgage Approval Company and Richard Wyrill are authorised through the Australian Securities & Investment Commission (ASIC) in accordance with the National Consumer Credit Protection (NCCP) Act. Our mission is to ensure we offer our clients the best service and most appropriate products through our professionalism and attention to detail. Ultimately, our goal is to ensure clients are provided with a loan that meets their objectives.

You can be confident that our representatives act with care and diligence to ensure your requirements are consistently met. We guarantee to listen to your needs and your instructions, ensuring that there is collaborative agreement through each step of the finance application process.

Our relationships and alliances with likeminded quality organisations ensure we are positioned to offer the best quality service to our clients every time as well as offering complementary financial services where appropriate.

Our standards and Your Broker

Your broker holds the necessary experience and qualifications in accordance with the NCCP provisions, and as such, is required to meet specific competency standards relating to educational and professional development. You can be confident that your broker is also held accountable to not only their organisations high ethical standards / values, but also have a responsibility to maintain the regulatory standards that are set by both Commonwealth and State governments.

Responsibility for Conduct

Your broker will be either licensed, a representative of a licensee or authorised under a licensee. The licensee shares responsibility in ensuring that the most appropriate product is offered and explained thoroughly. Your broker is committed to providing financial services to you efficiently, honestly and fairly.

Suitability of Loans to your Financial Objectives

By law, before entering into a specific credit contract, we are obliged to conduct a Preliminary Credit Assessment to determine your loan suitability. In consultation with you, we will find out and discuss with you your financial situation, financial objectives and borrowing needs before we determine which loan product may suit your situation / requirements.

For the purposes of the Credit Assessment, we will need to ask you some questions in order to assess whether the loan or lease is not unsuitable. The law requires us to:

  • make reasonable inquiries about your requirements and objectives;
  • make reasonable inquiries about your financial situation;
  • take reasonable steps to verify that financial situation.

Even if you already have a particular lender or product in mind, we have a responsibility to ensure you are informed about similar product options and related finance information.

The Credit Assessment will be conducted once you choose to engage our services. The Assessment will involve collection and verification of financial information to determine the appropriate loan amount and the loan costs associated with entering a credit contract. This will ensure that your circumstances will be assessed appropriately and that the options suggested will not place you in financial hardship. Once completed, this Credit Assessment is only valid for 90 days. A copy of the Assessment will be available to you, on request.

Please note, we do not provide legal or financial advice unless specified in a separate contract. It is important you ensure you understand your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before you enter the loan contract.


Lender and Products

Lenders available

We aim to provide you with information from a range of lenders and products / loans. Once you have chosen a loan that is suitable for you, we will help you obtain an approval.

Commonly used lenders

The list below documents the 6 most commonly used Lenders from the Financial institutions we are accredited with.

If less than 6 lenders are displayed below, this is a summary of the lenders that we are able to utilise for loan submission purposes.

Financial Institution

  1. ING Direct
  2. ANZ
  3. Homeside Lending
  4. IMB Ltd
  5. AFG Home Loans - ABL
  6. National Australia Bank

Product selection

As part of our obligations in providing you with an informed choice and an appropriate product, your broker will be able to provide you with a Preliminary Credit Assessment (on request) once you engage our services in facilitating the loan application process. The Credit Assessment will display key financial information and loan information based on your requirements and objectives and your financial position.

More detailed Product summaries may be provided by your broker that highlights various key features and benefits of the product.

Product Comparison documents may also be provided, depending on your circumstances, that allow you to compare the features and benefits of each product and assess the suitability to your requirements.


Fees, Charges and Commission

Fees payable by you to third parties

When the credit application (loan) is submitted, you may need to pay the lender's application fee, valuation fees, or other fees that are associated with the loan application process, even if the loan is ultimately unsuccessful.

A summary of these lender fees will be available in a Finance Broking Contract or Credit Proposal document which will be provided to you after a product has been assessed as being appropriate for your requirements.

Fees payable by you to the broker

If a fee is payable by you, this will be disclosed in a written fee agreement or Credit Quote that will be provided to you with this document. If a written fee agreement or Credit Quote is not supplied, this will indicate that we do not charge consumers any fees.

How are we paid?

Please take notice that Richard Wyrill (‘The Broker’) may receive fees, commissions, or financial rewards from the nominated Financial Institution in connection with this loan and may also receive remuneration from referral sources.

Lenders pay commissions for arranging loans. The range of commissions is: Upfront*: - 0.50% (including GST) to 0.70% (including GST) of the loan amount – Trail**: - 0.15% (including GST) per annum to 0.25% (including GST) per annum of the loan balance.- *This is a percentage of the principal sum advanced on settlement. **This is a percentage of the amount outstanding each month payable throughout the term of the loan.

The commission / brokerage depends on the principal value of the loan and may vary from product to product. Any other remuneration received will be shown in the disclosure table in this document, or in a Finance Brokers Contract which will be provided to you after a product has been assessed as being appropriate for your requirements.

Fees payable by us to third parties

Where clients have been referred, we may remunerate the referrer accordingly. We may pay fees to call centre companies, real estate agents, accountants, or lawyers for referring you to us. These referral fees are generally small amounts in accordance with usual business practice. These are not fees payable by you. Any specific material referral fee paid in relation to your referral will be disclosed in the credit proposal document we will give you before your loan application is lodged.

From time to time, we may also remunerate other parties through payments, rewards or benefits. These will be documented in the disclosure table in this document.



Our reputation is built on matching the appropriate product(s) to the individual’s requirements. We go to great lengths to ensure satisfaction with our services and offerings. However, there may be instances from time to time, where clients may be dissatisfied with the outcomes of our consultation process. If you have a complaint about the service that we provide, the following steps or avenues for resolution are available to you.

Step 1

Most complaints arise from miscommunication and can usually be fixed quickly. So, please contact Richard Wyrill at The Mortgage Approval Company first and tell them about your concerns.

Step 2

e pride ourselves on our reputation, and want to ensure that all concerns and complaints are fully documented, investigated and resolved in a timely manner. So, if the issue is not satisfactorily resolved within 1 working day by talking with Richard Wyrill, we will apply our internal complaints process to manage your complaint appropriately. In this instance, the complaint may be internally escalated to our Complaints Officer. You may also contact the Complaints Officer directly.

Complaints Officer

Name: Shirley Elliot

Phone: 0894207042


Address: 22 Delhi St, West Perth, WA 6005

Note: In some instances your broker may also be fulfilling the role of the Complaints Officer. This will not affect the capacity to have your complaint dealt with appropriately.

By using our internal complaints process we hope to assist you to resolve your complaint quickly and fairly. The maximum timeframe in which to provide a response to you is 45 days, although in pursuit of best practice and the reputation of our organisation, we aim to resolve these issues in a much shorter time frame.

Step 3

Although we try hard to resolve a customer’s concern in the most considerate and direct manner, sometimes it may need to be referred to a dispute resolution scheme, which is external to our organisation. Therefore, if you are not completely satisfied after the above steps have been attempted, you still have other avenues available to resolve the dispute.

This external dispute resolution process is available to you, at no cost. Two EDR schemes may be listed below. This indicates that the Credit Representative and their authorising Licensee are both required to be members (independently) of an ASIC approved EDR scheme. Where a Credit Representatives EDR is displayed, please contact that EDR scheme in the first instance for complaint escalation.

EDR (Credit Representative)

Name: COSL

Phone: 1800 138 422

Address: PO Box A25, Sydney South NSW 1235

EDR (Licensee)

Name: COSL

Phone: 1800 138 422

Address: PO Box A252, Sydney South NSW 1235



Other benefits, interests and disclosures (if applicable)
Nature of benefit or interest Applicability
Details of interest
Direct or indirect financial interest in a financial institution or mortgage manager N  
Direct or indirect interest in the company which owns the property you are purchasing N  
Referral fee received for the property being purchased. N  
Referral fee for any Wealth Management/Financial Planning, insurances made in conjunction with this transaction. N  
I am a participant in AFG’s Professional Development and Reward Program. If this loan settles it will contribute to meeting eligibility to receive a prize. N  
From time to time, AFG is able to negotiate volume bonuses with lenders. If that occurs, and this loan contributes to that bonus, I may receive a portion of that bonus. N  
Some lenders may require me to submit a certain number of loans to them per month in order to retain my accreditation with them N  
From time to time, some lenders offer benefits based on the volume of loans that settle within a designated time period. Y As part of my membership with AFG Ltd, we automatically participant in AFG Home Loans incentive program. If I recommend an AFG Home Loan to you which subsequently settles, it will contribute to meeting my eligibility to receive a reward or benefit.
Other benefit or interest. N  
Warning: We recommend that you consider the benefits disclosed above when you consider the appropriateness of the transaction and if necessary seek independent advice. By entering this contract you consent to the broker acting on your behalf in the transaction.


Information on Your File and Privacy Protection

Once our services are engaged, we will maintain a record of your personal profile, which includes all details you have disclosed to us including your financial situation, objectives and needs as well as a record of our recommendations.

If you wish to examine your file, please ask us and we will make arrangements for you to do so.



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