Mortgage Time Limited is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services. Financial Services Provider Number is FSP1005314.
Below are the Financial Advisers who are able to provide advise on behalf of Mortgage Time Limited (Financial Advice Provider)
- Brodie Sadgrove – FSP517566
Address: 22 Akatea St, Berhampore, Wellington
Phone: 027 244 6444
Email: brodie@mortgagetime.co.nz
Website: www.mortgagetime.co.nz
We encourage you to read the important information provided below. It will help you decide whether your financial needs may be met by engaging with Mortgage Time.
Nature and Scope of financial advice services:
1. Mortgages / Home lending (residental, business, commercial) products
2. Personal lending (for debt consolidation, mortgage lending readiness, and non home lending purposes)
3. Structure and Mortgage Life Cycle advice
Products we provide financial advice on:
Our Mortgage Providers:
We, through our financial advisers, provide financial advice about loan products from the following providers (also known as lenders):
- AIA Services New Zealand Limited (formerly Sovereign Home Loans)
- ANZ Bank New Zealand Limited
- ASB Bank Limited
- Avanti Finance Limited
- Bank of China
- Bank of New Zealand
- DBR Limited
- First Mortgage Trust
- General Finance Limited
- Heartland Bank
- Liberty Finance
- Kiwibank Limited
- Pepper Money
- Resimac Financial Securities Limited
- Southland Building Society (SBS)
- The Co-operative Bank Limited
- TSB Bank
- Westpac New Zealand Limited
- Cressida Capital One Limited
- Liberty Financial Limited
- Funding Partners Limited
- Southern Cross Finance Limited
- Gold Band Finance Limited
- Plus Finance Limited
- Unity (formally NZCU Baywide)
We do not provide advice in respect of the following products:
- General Insurance products (e.g. house, car, contents, landlord insurances): and
- Personal Risk Insurance products (e.g. life, income, mortgage protection, health insurances): and
- Investment products (e.g. shares, bonds, managed funds, etc.) and KiwiSaver products, and
- Estate Planning (e.g. Wills, Enduring Powers of Attorney, trust and company set up of any description).
We can refer you to a suitable qualified third party, however you will need to consult them if you would like advice on any of the products that we don’t and cant offer advice on.
Our Fees:
The following types of commissions are paid by the product providers to Mortgage Time.
Initial commission
- Mortgage lending – This is a percentage of the value of your loan balance at the time of settlement (taking out the lending) ranging from 0% to 0.88%;
- Personal lending – This is a percentage of the value of your loan balance at the time of settlement (taking out the lending) ranging from 3% to 3.5%%;
- KiwiSaver Referral – A dollar amount depending on the size of your KiwiSaver contributions within the first 12 months from $40 to $300.
Ongoing commission
- Mortgage lending – This is a percentage of the value of your outstanding loan amount or premiums, usually calculated at the end of each month in which you hold the loan ranging from 0.15% to 0.20%
- KiwiSaver Referral – This is 0.125% per year commission (paid quarterly) of your KiwiSaver account balance ongoing. It is referred to as a ongoing referral fee.
Conflicts of interest or other incentives:
We are here for our clients and to advise you as best we can. Your interests are our priority, although we do have business relationships with product providers also. We may receive a small gift from a product provider (such as a bottle of wine or events tickets), or provide conferences and professional development training.
How we manage any conflicts of interest
To ensure our advisers prioritise our clients’ interests:
- We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
- All our advisers undergo annual training about how to manage conflicts of interest.
- We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
- 4. We undertake an annual independent Compliance Assurance Review.
Our Duties and Obligations to you
We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:
- Meet the standards of competence, knowledge and skill set out in the Code of Conduct
- Give priority to the clients’ interest and
- Exercise care, diligence and skill and
- Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct.
Complaints:
Our Internal complaints process
If you have a problem, concern, or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.
Our internal Complaints Manager is Brodie Sadgrove who can be reached via email at director@mortgagetime.co.nz or 027 244 6444.
Brodie will reply to you within 1 business day, acknowledging your complaint and providing a timeline of the process.
Our external complaints process
If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints (FSCL). This service is a free, independent dispute resolution scheme. See www.fscl.org.nz or call 0800 347 257 for information on the FSCL scheme.
This process may take a number of weeks, as the process is overseen by an independent adjudicator.
You can contact Financial Services Complaints at:
Address: FSCL, PO Box 5967, Wellington 6145
Phone number: 0800 347 257
Email address: complaints@fscl.org.nz