Providers I work with:

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ANZ, ASB, BNZ, Westpac, Kiwibank, 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, Plus Finance, Prospa, Resimac, SBS, TSB, AIA Go Home Loans, Pallas Capital and Southern Cross Partners.

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We do not provide financial advice services relating to;

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• 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.

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If you would like a referral to any of the above specialists, please make it known to myself or one of the team and we'll be happy to point you in the right direction.

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COMMISSIONS AND INCENTIVES

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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 0.5% and 1% of the initial mortgage balance or amount funded. I may/will also receive 0.15% to 0.20% of the mortgage balance on each anniversary.

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The commission I receive is shared with Tasman Finance Partners for providing me with compliance support, training, and back-office support.

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CONFLICTS OF INTEREST

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

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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.

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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.

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Tasman Finance Partners is subject to a yearly audit and compliance reviews to ensure we meet our obligations while doing right by our clients.

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FEES AND EXPENSES

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As a general rule, and providing you give Tasman Finance Partners authority to approach all lenders on your behalf, including your incumbent bank, Tasman Finance Partners does not charge for mortgage advice as we receive a commission from the lender when your lending settles. Occasionally, we may work with lenders who don’t pay a commission to Tasman Finance Partners. In this scenario, we may charge a one-off fee for any work we do on your behalf. We will discuss this with you and disclose it to you in writing prior to seeking funding approval.

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If your scenario involves that of commercial nature, ie Business lending, Commercial Property, Property Development, Working Capital etc. Tasman Finance Partners has a set fee structure of $5,000, or 1% of the facility/loan/approval amount (Whichever is greater). This fee will be invoiced directly to the client and will be payable within 5 working days of settlement of the transaction.

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If you repay a mortgage within 28 months of drawdown, the lender may take back some or all of the upfront commission paid to Tasman Finance Partners on settlement.

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Examples where Tasman Finance Partners may charge a fee, including a clawback recovery fee, include:

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• If you refinance using another adviser/broker or by going directly to a bank, Tasman Finance Partners may charge you a one-off fee to cover the commission that the lender has “clawed back” from us.

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• If you repay your mortgage, in part or in full, from the sale of a property or by any othermeans, Tasman Finance Partners may, at our sole discretion, charge a fee to recover the commission clawback that the lender charges us.

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Please let us know if any of the above situations may arise within a 28-month period.

 

Other examples or situations where Tasman Finance Partners may charge you a fee at its discretion is if:

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• You signed the Tasman Finance Partners terms of engagement/authority document for us to prepare and submit your lending application, but you had already engaged another financial adviser without communicating this to your Tasman Finance Partners adviser in writing. Alternatively, if you engaged another financial adviser after signing the terms of engagement/authority document and did not communicate this in writing to us.

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• If we secure your approval and you decide not to proceed with Tasman Finance Partners, we may, at our discretion, charge you a fee for the hours of work undertaken by the business to prepare and secure your funding approval. This also includes if you then go directly to a lender, which may include your current bank, without disclosing this in writing to Tasman Finance Partners.

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• If, having engaged Tasman Finance Partners to secure your funding approval, we secure your funding approval and you disengage, or advise that you are no longer proceeding or needing the funding approval without having communicated this in writing prior to engaging us, we may, at our sole discretion, charge you a fee for the time we spent securing your funding approval.

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• In the event of a Tasman Finance Partners disengagement, once we are made aware that you have gone direct to a bank or engaged another financial adviser and subsequently elect not to proceed with the Tasman Finance Partners application and/or approval, we may charge a fee.

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Please note this is not an exhaustive list and Tasman Finance Partners reserves the right, at it's sole discretion, to charge a fee for service in any reasonable scenario.

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In this event, Tasman Finance Partners would charge a fee for our financial advice based on the following formula: Total Fee ($) = x hours of work x $500 per hour (including GST). The exact fee you would be charged in the above circumstances will be disclosed when we work with you to confirm your mortgage lending structure.

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In the event of a lender clawback, the fee would be payable on the 20th of the following month  after you paid back your mortgage.

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The commission clawback periods and rates for the major banks are outlined in the table below:

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ANZ              0-9 months 100%,        10-18 months 66%,        19-27 months 33%

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ASB              0-180 days = 100%,     181-365 days = 75%,      366-546 days = 50%,       547-820 days= 25%

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BNZ              0-14 months 100%,      15-28 months 50%

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Westpac      0-15 months 100%,      16-26 months  50%

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Kiwibank     0-6 months 100%,         7-12 months  50%,           12-24 months 25%

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SBS              0-6 months 100%,         7-12 months 50%,          13-18 months 25%

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Co-Op          0-2 months 100%,         3-27 months 3% per month

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RELIABILITY HISTORY

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

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Neither Tasman Finance Partners nor I have been subject to a reliability event.