Important Disclosures

Providers & Advice Type

Providers I work with:

ANZ, ASB, BNZ, Westpac, ASAP Finance, Avanti, Basecorp, Cooperative Bank, CMFL, Bank of China, Bluestone, China Construction Bank, Cressida Capital, DBR, First Mortgage Trust, Funding Partners, Heartland Bank, Liberty, Pepper Money, Prospa, Resimac, SBS, AIA Go Home Loans, and Southern Cross Partners.

We do not provide financial advice services relating to:

  • Legal or estate planning (e.g. wills, trusts, contracts, etc.)
  • General Insurance advice
  • Personal Insurance advice
  • Investment products (e.g. shares, bonds, managed funds, KiwiSaver, etc.)

You will need to consult an appropriate specialist if you would like advice on the above.

Commissions and Incentives

I may receive commissions at settlement from the relevant lender if you choose to take out a mortgage following my advice. The commissions are between 0.55% and 0.85% of the initial mortgage balance or amount funded. I may/will also receive 0.15% to 0.2% of the mortgage balance on each anniversary.

The commission I receive is shared with Life-N-Loans for providing me with compliance support, training, and back-office support.

Conflicts of Interest

I am paid commissions by lenders when a mortgage settles and in some cases at the mortgage anniversary each year.

I ensure that I prioritise your interests by following an advice process that considers your circumstances and goals. I research suitable products and providers to ensure the advice meets your needs.

I also undergo annual training on how to manage any conflicts of interest and record any conflicts in a register that we review and manage.

Occasionally, I refer customers to some preferred partnerships for Insurances, Lawyer, accountants and personal finance companies. Most of our arrangements are free of any monetary benefits but in some instances and some referral arrangements, we do receive some referral fees. In such events, we will disclose the same to you prior to the transaction.

To manage these conflicts of interest I will go through a robust advice process to ensure that I am fully assessing each customer’s individual goals, objectives, finances, and existing mortgage needs and eligibility before making any recommendations.

While I don’t provide general insurance as part of my product offering, I am able to refer you to Tower Insurance and we may receive a referral commission for each successful referral and continue earning on customer policy renewal.

I may refer you to other service providers, including Generate KiwiSaver. I will receive an ongoing payment of an amount equal to 0.125% of your account balance for referring you to Generate, in the event that you open an account. This fee is paid to me by Generate. The Generate adviser will provide general advice on the Generate KiwiSaver Funds. They can refer you to advisers who can provide you with in-depth advice if required.

Life-N-Loans is subject to a yearly audit and compliance review to ensure we meet our obligations while doing right by our clients.

Fees and Expenses

One-off fees

I may charge you a one-off fee if the following occurs:

  1. When I don’t receive a commission from the lender: If you request that I provide financial advice and I do not receive a commission from the lender, I may charge you a one-off fee. Any such fee would be agreed upon and authorised by you in writing before I complete the services, and would be based on an estimate of the time spent providing the advice.

    This may arise in the rare event that you request that I provide services in relation to either a product that is offered by a lender whom I do not hold an accreditation with or a product that is outside my usual arrangements with my approved lenders.

  2. When I have to repay commission to the lender: In the event that, in the 28-month period following the drawdown of your loan, your loan is fully or partially repaid or the terms materially changed, and a lender requires that I repay the applicable commission to them, we may charge you a one-off fee. Any such fee would be no more than $2,500 (plus GST, if any) and would be calculated based on a rate of $250 (plus GST, if any) per hour of my time spent providing financial advice to you in connection with the applicable loan. The fee I charge you will not exceed the amount of commission I have to repay to the lender.

You will be invoiced for any one-off fee and will be given 30 days to make payment.

Reliability History

A reliability event is something that may materially influence your decision on seeking advice from Life-N-Loans or from me. Some examples of reliability events are legal proceedings against me or if I had been bankrupt in the last four years.

Neither Life-N-Loans nor I have been subject to a reliability event.

Collection of Personal Information

Where we collect your personal information from someone other than you, we will take reasonable steps to notify you. This notification will include the purpose of the collection, the intended recipients of the information, the name and address of the agency collecting and holding the information, whether the collection is authorised or required by law (and, if so, the relevant law), and your right to access and request correction of that information, unless an exception applies under the Privacy Act 2020.

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