Disclosure Statement
Disclosure Statements
Important information about New Zealand Mortgage and Finance Specialists (FSP746091) Licence status and conditions
Astute Financial Management Limited FSP641829 (Astute) holds a licence issued by the Financial Markets
Authority to provide financial advice service.
New Zealand Mortgage and Finance Specialists (FSP746091) is authorised by that licence to provide financial advice service.
Our contact details are:
Address: 37D Crummer Road, The Workshop Level 1, Grey Lynn, Auckland 1021
Telephone: 0800 452 032
Email: mail@nzmf.nz
We provide financial advice on Mortgage Products/Consumer Credit Contracts
We encourage you to read the important information given below. It may help you decide whether your financial needs may be met by engaging with us.
Nature and scope of financial advice service
We engage financial advisers to provide financial advice on the following financial products:
Residential and personal loan products
We, through our advisers, provide financial advice service about residential and personal loan products only from the following providers (also known as lenders):
We do not provide advice in the following areas:
Fire and General insurances (e.g., home, contents, vehicle, boat etc.)
Personal risk insurance (e.g., life, health, income protection, etc.)
Asset protection and estate planning (e.g., Wills, Enduring Powers of Attorney, Family Trusts, etc.)
Investments including KiwiSaver.
We do not provide financial advice service related to:
Fire and General insurances (e.g., home, contents, vehicle, boat etc.)
Personal risk insurance (e.g., life, health, income protection, etc.)
Asset protection and estate planning (e.g., Wills, Enduring Powers of Attorney, Family Trusts, etc.)
Investments including KiwiSaver
During the advice process, our advisers may refer to some of the above areas and offer some general comments to demonstrate the importance to you of integrating the lending advice with the above areas. These general comments do not substitute the requirement for you seeking independent advice in the above areas from an appropriate specialist.
Who we Work With
This refers to the lenders available across the NZ Mortgage & Finance Team. Your adviser will provide you with their personal disclosure statement and lender panel at the time of engagement.
Bank Lenders
ASB Bank Limited
ANZ Bank Limited
BNZ Bank Limited
Heartland Bank Limited (Reverse)
Kiwibank Limited
SBS Bank Limited
The Co-Operative Bank Limited
TSB Bank Limited
Westpac New Zealand Limited
Non-Bank Lenders
Ascenteon (Pepper Money New Zealand)
Avanti Finance Limited
China Construction
CFML
Cressida Capital
DBR Limited
Finbase
First Mortgage Trust Limited
Funding Partners
Liberty Financial Limited
Metro Finance Ltd
Midlands MT
Nelson Building Society
Oxford Finance Limited
Pallas Capital Limited
Pioneer Finance Limited
Plus Finance Limited
Prospa New Zealand
Southern Cross Finance
Strata Funding
Unity Money Limited
Wroxton Finance
Fees or other charges you may be charged
There are certain circumstances where an adviser will need to charge a fee.
Up front fees
Our advisers are compensated via commissions paid by the lender so there would be no up front fee charged. However, some lenders may not pay the adviser commission so to ensure the adviser is fairly compensated for the service, an up front fee may be charged at settlement of the loan. The fees will be discussed and agreed with you beforehand and presented to you in a separate document called ‘Client Acceptance to Adviser Fees or Charges.’
Claw back fees.
For most lending scenario's our adviser will be remunerated via commission. There are occasions where the bank will ask for this commission to be repaid (such as if you repay your home loan or refinance your home loan within 28 months of settlement). In this case the lender will ask our advisers to repay a portion or all of the commission paid to them. The adviser can then charge a fee to cover the amount of commission that is to be repaid. The purpose of this fee is to enable our advisers to be fairly compensated for their time and expertise in providing you with advice.
Conflicts of interest and commissions or other incentives
We and Astute will receive commission from the lenders who provide residential and personal loan products. If you decide to take out a residential or personal loan, then the lender will pay commission based on the amount of loan settled with that lender or lenders.
From time to time, various product providers (described previously) may also reward us and/or Astute for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives. To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made based on the client’s personal goals and circumstances. All our financial advisers undergo annual professional development refresher training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives received.
Complaints handling and dispute resolution
We take all complaints seriously and work to resolve them as quickly as possible. If you are unhappy with our financial advice service, and wish to make a complaint, please contact your financial adviser so he or she can try to put things right.
If you do not feel comfortable discussing your concerns with your adviser, you can:
• Call us on 0800 452 032 between the hours of 9 am - 5 pm weekdays
• Email us at mail@nzmf.nz
• Write to us at 37D Crummer Road, The Workshop Level 1, Grey Lynn, Auckland 1021
How your Complaint will be handled
We will deal with your complaint using our internal complaints handling process. Accordingly,
• We will investigate your complaint by analysing the information you provided us; and
• We may contact you to get additional information about your complaint.
We aim to resolve your complaint within 40 days of its receipt and advise you, in writing, our proposed resolution to your complaint.
If we cannot resolve your complaint within 40 days of receipt (or any additional time you have given us thereafter, at our request) you can contact the Financial Services Complaints Ltd (FSCL).
FSCL provides an independent external dispute resolution service to consumers with complaints about their financial service providers. This service will cost you nothing and will help us to investigate or resolve your complaint if it is not resolved to your satisfaction using our internal complaints process.
You can contact the FSCL Scheme at:
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Telephone: 0800 347 257 or +64 4 4723725
Address: Level 4, 101 Lambton Quay, Wellington 6011 P O Box 5967, Wellington 6140