It’s simply a question of ethics.
If you think something’s wrong, don’t do it.
I did not say this.
It was Rod Simms, Chairperson of Australian Competition and
Consumer Commission. He made this statement on 5 April
2018, whilst commenting on bankers’ appalling excuses for bad
behaviour (Royal Banking Commission into Misconduct in the
Banking, Superannuation and Financial Services Industry).
And I agree.
This is the story of Complete Lending Solutions
The trust in our brand did not happen overnight; it began in July 2002 when I established Complete Lending Solutions with two
thoughts in mind. First, to protect our clients from overborrowing; and second to stick by our business standards and ethics through
prosperous and tough and challenging times.
In 2009, the National Consumer Credit Protection Act 2009 (Commonwealth) (NCCP) made mandatory the statutory concept of
“responsible lending”. Chapter 3 of the Act states that Credit Licensee (banks, credit unions, finance companies, mortgage brokers)
must comply with the Responsible Lending Conduct Obligations of the Act, must decide how they will meet it, and must make an
Just nine years later the Royal Commission exposed irresponsible lending, approval of unaffordable loans, fraud, scandals,
coverups, misconduct, bad behaviour by banks, and the payment of bribes over banks’ branch counters in white envelopes.
We believe credit advice and representation should not be tainted by vertically integrated and intertwined agencies, agents and
service providers or the payment of kickbacks for referrals.
There is an army of referrers who are unlicensed persons (under the NCCP Act), who may not hold professional indemnity insurance,
who may not be members of The Australian Financial Complaints Authority (AFCA), that demand as much as half of the commissions
earned by brokers for a referral – with just a flick of a name and contact number – and brokers are happy to pay it. Some lenders
encourage this practice because they also pay these referrers lots of money for a flick of a name and contact number!
Lenders are happy to ignore it, the industry professional bodies are happy to ignore it, whilst both promote the highest ethical and
Complete Lending Solutions remains a non-controlled business arrangement. We are not vertically integrated, a franchise, or
obligated to or owned by a bank, real estate agency, accountant, financial planner, insurance broker or developer.
Our clients understand and appreciate that the advice and representation we provide acts as the checkpoint amid vertically
integrated and intertwined agencies and service providers.
We save a tremendous amount of money because we do not pay kickbacks for referrals. This money is reinvested back into our
business and for the benefit of our clients.
Often, we provide advice and complimentary services that earn us no or very little commissions. We do this simply because it is in the
best interest of our clients and consequently represent better opportunities for us.
We do not lock in or mandate clients in a contract (for unprofitable loans less than $300,000, complex loans or even for commercial
loans), or mandate to charge a fee if a client discharges the loan within the lender’s clawback period (being usually two years from
Since March 2014 we have been offering our clients complimentary Buyers’ Agent services (inspect, appraise, negotiate, auction
bidding) through QED Realty. Usually Buyers’ Agents charge similar fees as real estate agents do, as well as auction attendance and
auction success fees. You can now easily estimate the value of our complimentary Buyers’ Agent service.
It Does Not Just Stop There!
Our next project is to make comparing home loans interest rates, easy, fast and efficient and without obligation. Unlike other
comparison websites, your contact details and loan enquiry will not be sold for money to third parties or auctioned to the highest
Why Our Brand?
We are not trying to get you to like us or give us your trust off the bat; it’s about inviting you, to let us earn it.
Complete Lending Solutions is not restricted to using lenders from a panel or loan products from a sales list.
We hold our own Australian Credit License; we are not a franchise or a controlled business arrangement.
We can advise on –
Owner Occupied Home Loans | Residential Investment Loans | Commercial Property Loans |
Construction Loans | Development Finance | Refinance | Loan Reviews |
SMSF Self-Managed Super Fund Borrowing | Medical Packages | Waived LMI |
Low Deposit Home Loans | Security Family Guarantor Loans |
Second Mortgages | Debtor Finance | ATO Tax Debts | and more …
First Home Buyers | Property Investors | PAYG applicants | Self-Employed Applicants |
Discretionary, Unit or Hybrid Trust Borrowers | Company Borrowers | SMSF Superfunds |
Australian Expats | Non-Resident Loans | and more …
Interest Rate Risk Management
Compare Performance of Fixed Term Interest Rates and Variable Interest Rates | and more …