Charging fee policy


What is it?

Where you intend to charge a fee for your services to a client 

Policy:

Loan Market typically inhibits charging customers a fee and will only allow upfront fees to be charged to clients in certain circumstances. 

In order to charge a fee, these requests always have to be considered and approved by compliance, regardless of their nature.

These circumstances will typically relate to situations where:

  • There is a high probability that there will be no end debt within 12 months
  • Complex scenarios such as those involving multiple entities / company structures / trusts, non natural-person

The following will not be considered:

  • Clawback reimbursement (prohibited by law)
  • Cost recovery - Disbursement fee (prohibited by LMG)

How / Process:

  • You must provide a quote document to the client(s) that stipulates the proposed fee.  
  • This quote needs to be provided prior to credit assistance being provided - as such this should be given to your client at the same time as the Hello Pack and no later than the Game Plan
  • The client(s) must sign a copy of the quote and a copy must be saved within My CRM
  • All fee invoices are requested through LMG Corporate - you cannot request or demand payment directly or before credit assistance has been provided.  
  • All fees must be reviewed and approved by Compliance by emailing compliance@loanmarket.com.au


For more information please contact compliance@loanmarket.com.au