As an appointed Credit Representative under Connective's ACL, a request to complete/submit a client’s application to a non-panel lender needs to be referred to our General Manager for approval.
Off Panel Lender request
We don't provide a blanket 'open' approval for a Credit Representative to deal with off-panel lenders. To use an off-panel lender, you must email an approval request through to the Compliance team. You must do this each time you wish to use an off-panel lender.
Include the following information in your email request:
- Interest rate
Which panel lenders were considered
The reason that this customer's needs weren’t serviced/approved by any of our current list of panel lenders.
Ensure the following information is stored in Mercury to assist with our decision:
All detailed notes are uploaded
All supporting documents are attached
All NCCP compliance documentation has been created and is correct.
Once all this information is received, the Connective General Manager will make a decision and advise you accordingly.
Please note that in addition to seeking approval to go off-panel you would also need to ensure that you PI insurance covers lenders that are not on our panel.
Please don’t hesitate to contact our Compliance Support team through the Helpdesk on Mercury for any further assistance.
Mercury for any further assistance.
Refer to the guidelines in the Connective Policy Manual http://wiki.connective.com.au/display/MER/Connective+Policy+Manual