FAQ'S

Q1.What is a Registered Financial Adviser?

Registered Financial Advisers are required to be registered with the Securities Commission and must belong to a Disputes Resolution Scheme. They are also required to be on the Financial Service Providers Register.

Q2.Why use a Mortgage Adviser?

Helping people to purchase their largest asset is what we do all day. We know what is required to get your loan approved and where to go to find the solution. Every lender has slightly different criteria at different times, and we as advisers save time going to the right lender first. We will also use our experience and connections to broker the best deal and rates for you.

Q3.How do we get paid?

More often than not, we get paid a commission by the retail bank. If, however, it becomes necessary to seek funding from a non-bank lender, a fee will be charged to the client directly. This will be discussed up front.

Q4.What is a pre-approval?

In todays’ Real Estate market, more and more properties are being sold at Auction. Because an auction sale is unconditional immediately, it is vital to be assured of an approved mortgage upfront. It also offers peace of mind and bargaining power for other sales methods.

Q5.Why non-bank lenders?

In some cases, deals will not work with a retail bank. Examples of this could be impaired credit history, low documented proof of income or development loans.

Non-bank lenders have slightly different lending criteria from retail banks and very often a deal that doesn’t fit with a bank, can be housed in the non-bank arena.

Q6.Laundering & Countering Financing of Terrorism Act and how it may affect you?

The Anti Money Laundering & Counter Financing of Terrorism Act came into effect in 2013 and is designed to help detect and deter money laundering and terrorism funding.

All financial institutions in New Zealand are now obliged to verify a customers’ identity and account activity, by collecting more information than before.