You can download this important disclosure information here.
The following information provides you with an important overview of mortgagehq ltd, our duties to you, fees, and how we manage complaints.
License Status and Conditions
mortgagehq limited, FSP463846, trading as mortgagehq holds a financial advice providers (FAP) license issued by the Financial Markets Authority.
Nature and Scope of the Advice
mortgagehq provides advice to our clients about only their general home loan needs. mortgagehq has access to all New Zealand main banks, including a range of non-banking lenders to provide a unique solution for our clients. The banking institutions mortgagehq advisers have access to, are the following:
- Co-Operative Bank
- Bank of China
- China Construction Bank
- Heartland Business
- NZCU Baywide
- Liberty Finance
- First Mortgage Trust
- Southerncross Partners
- General Finance
- Goldband Finance
- ASAP Finance
- Strata Funding
Fees and Expenses:
Generally speaking, mortgagehq does not charge for it’s advice. However, in certain situations where the client’s requirement may be more complex, mortgagehq may charge a fee for offering the financial advice. The exact fees we will charge will be confirmed before the advice is provided and the client can decide to proceed or not.
Mortgagehq may charge an application fee in certain circumstances. The exact fees we will charge will be confirmed before the advice is provided to give the client time to decide if they want to proceed. Mortgagehq may also charge a brokerage fee when dealing with non-bank lenders. The exact fees we will charge will be confirmed before applications are submitted.
Conflicts of Interest and Incentives
mortgagehq has strong working relationships with New Zealand based lenders. These relationships allow us to provide competitive pricing and help us meet our expected service expectations to a high standard.
mortgagehq are paid in the form of commission from lenders through which we place business. The amount of the commission we receive depends on the loan amount of any loan, and lender. Typically we receive an upfront initial commission of between 0.0045% to 0.0085% of the total loan amount.
mortgagehq may also receive annual ongoing commission of between 0.00125% and 0.002% for every year your outstanding loan balance that remains with the bank. We will provide more specific details of these commissions once we have talked to you and understand your needs/at the time our advice is given.
Our advisers receive a salary as an employee of mortgagehq. They are eligible to receive a bonus each quarter of a certain level of overall performance is achieved. The performance incentive accounts for (but not limited to) individual financial targets, quality of work, and team performance.
Mortgagehq believe in their recommendations provided to all clients and have an ongoing responsibility to ensure these client’s needs and lending requirements are managed to a high standard, and on an on-going basis. This means mortgagehq will receive an ongoing commission payment from the lender for this service.
To ensure that our financial advisers prioritise our clients interests above their own, we pay our advisers on a salary basis.
Mortgagehq policy is to only engage with clients where there is a clear material benefit to be gained for our clients, otherwise, we will refuse to engage. We do not want to waste your time if we do not think we can or should help.
Mortgagehq have clear ‘conflict of interest’ policies and procedures. Our financial advisers follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial advisers undergo regular training about how to manage conflicts of interests. We undertake a compliance audit, and review of our compliance program annually, completed by an external compliance adviser.
Complaints and Disputes?
If you are not fully satisfied with the service provided by an mortgagehq adviser, please contact your adviser, or mortgagehq directly. The managing director is available at firstname.lastname@example.org
The mortgagehq complaints officer will acknowledge your complaint in writing within 8 business hours, and endeavour to resolve your complaint in a timely manner. You can find more about our complaints process online on the next tab, titled disputes and complaints.
Mortgagehq believe in helping our clients plan and organize their property/investment life cycle through understanding your position, situation and delivering bespoke advice 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 (code of conduct). 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.
mortgagehq limited holds a financial advice provider licence issued by the Financial Markets Authority.
You can contact us at:
Phone: 0800 733 462
Post: PO BOX 54229, The Marina, Auckland 2144