Simon McDonald's important disclosure information.

For when the nature and scope of your advice is known.

My name is Simon McDonald.

My contact details are:

More disclosure information is available here covering the following topics:

  • License Status and Conditions
  • Our Duties
  • Complaints

Nature and Scope of the Advice

I am a Tier 1 Adviser meaning based on your financial position and what your financial goals are I can advise you on the following:
1. Mortgage lender options best suited for you.
2. Mortgage lender options best suited for you. Mortgage structure recommendations to maximize savings or flexibility supervised by my senior adviser.
3. Mortgage lender options best suited for you. Mortgage structure recommendations to maximize savings or flexibility. Mortgage strategy plan to achieve your long term property goals.

Through mortgagehq, I have access to New Zealand main banks, and a range of non-banking lenders to provide a unique solution. The banking institutions I have access to, are the following:

It is important to note that our advice is property-related in nature, however, I will only advise on the financial implication of the property towards your mortgage plan but not provide advice on the property itself.

Fees and Expenses

Generally speaking, mortgagehq do not charge for its advice. However, in certain situations where the client’s requirement may be more complex, mortgagehq may charge a fee for offering financial advice. The exact fees we will charge will be confirmed at the time the advice is provided and you will know about these charges in advance for you to make a decision beforehand.

For non-bank lenders and asset-lenders, we may also charge a brokerage fee of up to 1% of the lending. Should these lenders need to be utilized, this will be determined after our review together.

In addition, mortgagehq will invoice for an administration cost following the expiry of any unused pre-approval (new purchase or top-up). The cost of this is tied to the complexity of your application, and an invoice will be issued to you upon the expiry of the approval if no purchase or meaningful progress is made within the approval’s validity period (usually 3 months with a potential extension period).

  • Level 1 a cost of $250 – PAYE income with no more than 2 properties and 2 entities.
  • Level 2 a cost of $350 – Self-employed income with no more than 2 properties and 2 entities.
  • Level 3 a cost of $450 – 3 or more properties or borrowing entities.

Mortgagehq may choose to waive these costs for existing clients or where appropriate.

Conflicts of Interest and Incentives

Mortgagehq receive commissions from the relevant lending provider if you follow my advice and take out a home loan with them. The amount of the commission depends on the provider.

If I meet my quarterly minimum revenue targets, quarterly team targets and pass my quarterly compliance audits, I would receive between 30% – 42% profit share of the commission stated in the table below upon the mortgage settlement date.”

Initial commission: The below table shows the maximum initial commission that mortgagehq will receive from each provider if you decide to arrange your mortgage application through us and take out the mortgage we propose to you.

Ongoing commission: The table also shows the  ongoing commission that mortgagehq would receive each year on the outstanding balance of the mortgage that  remains at that bank.

Refix commission: Some banks pay us a fee for helping you renew your mortgage. Where no refix commission is paid, we receive an ongoing commission

Clawback period: Majority of the lenders will have a clawback period, where if you repay your mortgage within the clawback period, we must repay up to 100% of the commission we have received within that timeframe.

Commission Information Table

My Duties

Mortgagehq believes in helping our clients plan and organize their property/investment and mortgage life cycle through understanding your position, situation and delivering bespoke advice (where appropriate) to achieve these goals.

We are bound by duties outlined under the Financial Markets Conduct Act 2013, and must:

  • Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services. These are designed to ensure our advisers have the expertise to provide you with financial advice
  • Take steps to ensure that you understand the nature and scope of the advice we give you and advise of any limitations to this advice.
  • Give priority to your interests, by taking all reasonable steps to ensure our advice does not pertain to any conflict of interest; influencing our own interests.
  • Exercise care, diligence and skill.
  • Treat our clients fairly and act with integrity.
  • Make certain disclosure information available to you, at a certain time. We must not provide false or misleading information.

Reliability History

There are no ‘reliability’ events to disclose.

Availability of Information

The information I have discussed with you is available in writing. Please let me know if you wish to have a written copy.