Financial Advice – Disclosure 

The information provided in this disclosure document is important

Licence status and conditions 

Mortgage Ladies and Co Limited (FSP728691), trading as Mortgage Ladies and Co holds a full license issued by the Financial Markets Authority (FMA) to provide financial advice. 

Nature and scope of the financial advice given

Mortgage Ladies and Co provides advice to our clients about Home Loans.  

We provide financial advice about products from a large range of providers. We hold accreditation with ASB, BNZ, ANZ, Westpac, Kiwibank, Co-operative Bank, SBS, Avanti Finance, Cressida, Liberty Finance, DBR Limited,

NZCU Baywide, Sovereign, ASAP Finance, Basecorp Finance, Southern Cross Finance

We do not provide advice on Kiwisaver and Insurances.

Any financial advice provided on our behalf will take account only of the information you have given us about your particular needs, financial situation or goals. 

Fees, expenses and other amounts payable for our financial advice

We reserve the right to charge a clawback fee under certain circumstances. Should you repay or refinance your loan within two years of your loan being advanced, the lender will “claw back” any commission

paid to me. In the event you repay or refinance your loan without giving me the opportunity to assist you with a refinance the clawback fee will be invoiced and due for payment by the client (verification will be provided with

the invoice). I will charge a fee to recover the costs of advice and service provided to you. The clawback fee will not exceed $2,000.00 and has been calculated on the basis of:

• 10 hours of advice work at an hourly rate of $200.00 per hour

• Negotiations with providers

• Administration costs to complete and submit your loan application to the provider and provide the required services and advice as outlined in the scope

Unless otherwise agreed, any fees payable by you for the advice provided, will be payable within 7 days of an invoice being issued to you.

Conflicts of interest and commissions or other incentives

For home loan products, Mortgage Ladies and Co and the financial adviser receive commissions from the home loan providers on whose products we give advice. If you decide to take out a home loan, the home loan provider will pay a commission to Mortgage Ladies and Co and your financial adviser. The amount of the commission is based on the amount of the home loan drawn and varies per home loan provider.  Some providers will do a full up-front commission ranging between 0.70% to 0.85% of the home loan value, others will provide a part up front commission between 0.55% to 0.60% of the home loan value with a trail income of 0.10% payable monthly on the home loan balance. 

To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance consultancy firm and undertaken internal compliance checks quarterly by our own internal compliance officer.

Internal complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means: 

  • in writing:

Complaints Officer
Chanelle Cortland
15 Matheson Road
Red Beach
Auckland

When we receive a complaint, we will consider it following our internal complaints process: 

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.

  • We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

  • If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited.

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme.  This service is free and may help investigate or resolve the complaint.

We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme.  You can contact the Financial Services Complaints Limited at:

Financial Services Complaints Limited
Level 4, Sybase House, 101 Lambton Quay
Wellington 6011

Telephone: 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand)

Postal: P O Box 5697, Wellington 6140
Email: complaints@fscl.org.nz
Website: http://www.fscl.org.nz/

Our duties 

Mortgage Ladies and Co Limited, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to: 

  • give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.

  • exercise care, diligence, and skill in providing you with advice

  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)

  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.

The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.

Contact Details

Mortgage Ladies and Co Limited (FSP728691) trading as Mortgage Ladies and Co is the Licensed Financial Advice Provider.

You can contact us at:

MORTGAGE LADIES AND CO
Postal address: 15 Matheson Road, Red Beach, Auckland
Phone number: 021 027 30159
Email: enquiries@mortgageladies.co.nz
Web address: www.mortgageladies.co.nz