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What's an ACL?

So what is an ACL? What does it mean, and what do you have to do to get one? We explain everything.

August 21, 2017 • 1 min read

A person looks at a painting in a house.

Ever wondered what those tiny little numbers on advertisements for home loans are? We explain what an ACL is, what it’s for, and what ours means to us. (Hint, it's more than just another TLA.)

What is an Australian Credit Licence?

An Australian Credit Licence (ACL) is something a business needs to apply for and have, to be involved in ‘credit activities’ – this includes anyone lending money, or any intermediary between the person lending the money and the person getting the money, which includes brokers. You don’t need a credit licence if you’re an authorised representative of another person who holds a licence.

How do you get it?

The people dishing out the credit licenses is the Australian Securities and Investment Commission (ASIC). And by “dishing”, we mean assessing applications to ensure the business can demonstrate they comply with the licence conditions in the credit legislation. If you’re really keen, you can read the Regulatory Guide 204 which explains what you need to do, to apply for a credit licence.

Where to see the numbers?

All lenders who are licensed must display their six-digit number – on their website, on loan documents, and in their shop-front (for the old-school peeps). If you can’t see a credit licence number, you should ask for it to be pointed out to you. And if they can’t show you one? Run Forrest! ASIC have a very handy page with links to check out people, companies, and schemes, so you can make sure they meet the basic credit standards.

Tiimely Home's ACL.

We’re very proud of our bunch of numbers. Here are some more numbers, to help explain what we needed to do, to get our ACL.

  • 3 responsible managers allocated
  • 56 years’ experience in the industry, between them
  • 12-week course to get a credit industry qualification
  • 3 background and police checks
  • 1 application drafted
  • 1 membership to the Financial Ombudsman Service
  • 1162 kilometres travelled to Sydney to meet with ASIC regulators
  • 7 days to provide more information
  • 9 attachments of more information, including screenshots and details of our application, forms and policies
  • 30 days to confirmation of our Australian Credit Licence.
  • 5 beers. Per responsible manager. Drank responsibly.

It’s not just a bunch of numbers to us. Australian Credit Licence (and proud of it): 496431.

Find out more about Tiimely Home's ACL in our FAQs.

Laura Osti

By Laura Osti


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Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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