We operate as a Financial Advice Provider under a current license issued by the Financial Markets
Authority in the name of NZ Financial Services Group Limited (FSP286965).
There are no conditions attached to this license on the advice that may be given.
We provide advice to our clients about home loan products and personal insurance products (life
insurance, mortgage insurance, income protection cover, trauma cover, and health insurance).
We will also hold your hand through the home buying process (which can be rather daunting) and
assist you with completing your due diligence.
Our Mortgage Providers
Our Insurance Providers
On settlement of a loan or the issuance of an insurance policy, we usually receive commission from the applicable product provider. The commission is generally of an upfront nature but may also include a renewal or trail commission.
This commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running our business including rent, staff and administration costs and IT resources. From this commission we also pay NZ Financial Services Group Limited for services they provide to us in connection with our authorisation under their licence from the Financial Markets Authority.
We take steps to ensure that the receipt of commissions does not influence the advice we give to you and that our advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of commission we or they may receive. We do this by:
- Ensuring our advisers follow an advice process that ensures they understand your needs and goals and that their recommendations on mortgage and insurance options meets those needs and goals.
- Our advisers receive the same commission amount no matter which lender we arrange your finance with. This means there is no financial incentive for them to promote one lender over another, and therefore, their only agenda is to find the right loan for you.
- Ensuring our advisers receive regular training on how to manage conflicts of interest.
Fees and Expenses
Generally, we do not charge you any fee for the advice and transactional solutions that we provide to you. This is possible because, on settlement of a mortgage or the issuance of an insurance policy, we usually receive commission from the applicable product provider as described above. However, The Home Loan Shop may charge you a one-off fee in the following situations:
- The lender we arrange your lending with does not pay upfront commission.
- You intend to repay your lending within the next two years. In this situation the lender will clawback some or all the commission received.
Any such fee will be discussed with you and formally agreed upon with you before being charged. You will be invoiced and will be given 30 days to make payment.
Conflicts of Interest
If there are any conflicts of interest that could potentially influence the advice that we give, these will be shown in your Financial Adviser’s Disclosure Statement.
We are always looking for ways to improve our service to you, so if something has gone wrong, please let your adviser know so they can try to put it right.
If the matter is not resolved to your satisfaction, or you are not comfortable discussing your concerns with your adviser, you can contact our Complaints Manager, Greg Scott, as follows:
- Call on (04) 384-5700 or 0274-729-153
- Email to email@example.com
- Write to us at PO Box 24305, Manners Street, Wellington 6142, addressing your letter to Greg Scott.
When emailing or writing to us, please outline what has happened and how we can resolve matters. If you have any documents or correspondence that will help us understand your complaint, please attach them to the email.
When we receive your complaint, we will:
- acknowledge your complaint within 2 working days
- gather and evaluate information about your complaint
- respond to you within 10 working days.
If we cannot agree on how to resolve the complaint, you can contact Financial Services Complaints Limited (FSCL). FSCL are an independent, not-for-profit, external dispute resolution scheme approved by the Minister of Consumer Affairs.
FSCL’s service does not cost you anything and they will help resolve the complaint.
You can contact FSCL:
- by calling 0800 347 257
- by emailing firstname.lastname@example.org
- through FSCL’s website: www.fscl.org.nz
- writing to: FSCL, PO Box 5967, Wellington