Real Finance has legal obligations to ensure we exercise the care, diligence, and skill of a Responsible Lender at all times.Below is our Responsible Lending Page. If you have any questions, please contact us.
What Real Finance Limited must do to make sure your loan arrangements are both affordable and suitable for your needs.
Ensuring credit and loans , along with any complimentary insurance solutions are suitable for our borrowers
The Lender Responsibility Principles we follow make our responsibilities clear, specifically on whether a loan is affordable AND suitable for your needs. We apply these principles to all of our loan types.
Real Finance Limited is a registered Financial Services Provider – FSP3821
The Responsible Lending Code is a guide for lenders on how to comply with the Lender Responsibility Principles, which was developed by the Ministry of Business Innovation and Employment (MBIE). When used correctly by lenders it helps evidence they complied with the principles and did not act oppressively.
This was updated recently with the revised code to take effect from 7 July 2022.
The following is a summary only and is not intended to be used by borrowers as a full transcript of the code, or RFL’s legal duties. You can read The Responsible Lending Code 2022 here.
Every lender must exercise the care, diligence, and skill of a responsible lender:
When the insurance is arranged by the lender, they have to:
The lender can rely on information the borrower provides, unless the lender has reasonable grounds to believe the information is not reliable.
Lenders need to:
If a lender doesn’t comply with any of the principles the Courts can take this into account in deciding whether or not:
It does not, however, make the credit contract or any security interest unenforceable.
Real Finance is here to help manage your financial goals and challenges whenever you have them. If things have changed since you borrowed your loan and you find you are struggling, communication is the key.
See our guidance here.
If after talking to us you are not satisfied with the outcome, you can make a complaint to our independent dispute resolution scheme. These complaint schemes are free for consumers, but should only be enlisted if and when you have exhausted contact with us.
“I liked that Real Finance asked questions to get to know me and my situation before fitting me with a tailored solution.”