Licensing Information
MortgageGPT Ltd (FSP1010077) holds a licence issued by the FMA to provide a financial advice service.
The FAP licence is subject to conditions contained in the Act, imposed by regulations, and imposed by the FMA under section 403 of the Act. More information please refer to FMA website.
Our office contact details: 9 Huron Street, Takapuna, Auckland 0622
Phone: 0800 735 808
Email: support@mortgagegpt.co.nz
Nature & Scope of advice service
MortgageGPT Ltd provides Mortgage services and Accredited with the following product providers,
Commercial banks: ANZ, ASB, Westpac, BNZ, Kiwibank, SBS, Bank of China, Heartland bank, TSB etc
Finance companies: First Mortgage Trust, Avanti, Southcross Partners, Peppermoney etc
Commission & Other incentives
On settlement of a mortgage, I receive commission from some of the above product providers I deal with. The commission is generally of an upfront nature but may also include a small trail commission. The commission range is from 0.55% to 0.88%. I also do receive a fixed rate roll over fee – $150 from some providers if I assist in refixing your loan.
A full schedule of all providers and their commission rates is available on request.
We may pay referral fee to the person refer your business to us and we may receive referral fee from other service providers.
Fees & Expenses
In some events that you may require me to act on your behalf in a transaction whereby I do not receive a commission from the product providers, I will charge a one-off fee for the services provided. Any such fee would be agreed in advance and authorized by you in writing.
Generally, if the loan gets approved from the lender that does not pay commission, we do charge 1% of agreed loan amount. In some events that you may terminate the product within commission clawback period, we may charge the clawback amount from you. Any such fee would be agreed in advance and authorized by you in writing.
Conflicts of interest
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 provider.
We manage these conflicts of interest by ensuring that we prioritise your interests above our own. The advice we provide is based on understanding your goals and circumstances and providing recommendations which are based on research.
Duties Information
I am bound by the duties of the Financial Markets Conduct Act 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, Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct.
Complaints and handling process
If you have a problem, concern, or complaint about any part of my service, please tell us on 0800 735 808 or email support@mortgagegpt.co.nz, so we can try to solve the problem.
If we cannot agree on how to resolve the issue, you can also contact Financial Services Complain Limited (FSCL). This service will cost you nothing and will help us resolve any disagreements. You can contact FSCL by emailing complaints@fscl.org.nz, calling FSCL on 0800 347257, or in writing to Po Box 5967, Lambton Quay, Wellington 6145.