Publicly Available Disclosure

CONTACT DETAILS

Link Financial Group 2022 Ltd is the Financial Advice Provider.

You can contact us at:

Phone: 0800 466 784

Email: admin@mortgagelink.co.nz or admin@insurancelink.co.nz

Address: 1/1 Antares Place, Rosedale, Auckland

Nature and scope of advice

Mortgage Link Albany’s advisers provide advice about:

• Mortgages and personal lending
• Determining how much you can afford to borrow to purchase a property (within lenders affordability guidelines).
• Selecting an appropriate lender and mortgage structure.
• How to structure your repayments to pay off your mortgage sooner
• Structuring and refixing your current lending.

 We provide advice in relation to the following lending products:

• Mortgages
• Personal Loans
• Tops ups
• Debt consolidation
• Business loans

 We provide advice in relation to products provided by the following companies:

Main Bank Lenders

Other Lenders / Non-Bank Lenders

Fees and expenses

Mortgage Link Albany advisers are usually remunerated by way of commission, paid by the providers of the loan products we recommend. All banks we work with pay a commission, however due to the amount of work involved with some applications versus the commission received, and/or the complexity of your application, there are occasions when a fee will apply to cover business costs, as detailed below: ​

Home loan for more than $200,000 – no Service Fee routinely charged​

Home loans for less than $200,000 - a Service Fee of $2,000 will be charged. This fee will be payable once we have obtained an offer of lending (but will not be charged if you do not purchase a property)​

Where there are 3 or more properties, or 2 or more Trusts involved – a Service Fee of $2,000 will be charged.  This fee would be payable once the lending application has been submitted to the lender, but at the adviser’s discretion, payment may be delayed until your lending has been completed​

Non-bank lenders – a Service Fee up to a maximum of 1% of the loan amount will be charged (minimum fee of $2,500, amount to be agreed prior to application being submitted). $2,000 of this fee will be payable once we have obtained an offer of lending, even if you choose not to use the lending. Any balance of this fee will be payable once the loan has been drawn down. The fee can usually be added to your loan amount​

Personal loans - a Service Fee of $2,000 will be charged. This fee will be payable once we have obtained an offer of lending, even if you choose not to use the lending​

Re-fixing existing lending – no fee will be charged to you to re-fix existing lending ​

​If you choose to work with someone else before we have provided you an offer of lending – if you confirm you would like us to proceed with your lending application but then decide you wish to work with someone else before we provide an offer of lending, a Service Fee of $1,000 will be charged to cover our time (based on advice, research, administration to progress your application, capped at a maximum of 4 hours at an hourly rate of $250)​

If you choose to work with someone else after we have provided you an offer of lending - where we have obtained an approval from a lender who does pay commission, but you choose to proceed with a loan provided direct from the lender, by another adviser or lender, a Service Fee of $2,000 will be payable as cost recovery for the time spent on obtaining your approval (based on 8 hours of advice, research, negotiation and administration to complete and submit your loan application, at an hourly rate of $250)​

If you repay your mortgage within 28 months - if you have utilised a mortgage with a lender who pays a commission, and this mortgage is repaid within 28 months of your mortgage settlement, Mortgage Link Albany will have to repay some, or all, of the income they received for the work done to secure that lending.  This is known as "commission clawback".  If the lender charges Mortgage Link Albany with a commission clawback, due to early settlement of the mortgage, we will ask you to pay a fee as cost recovery for the service provided.  The maximum amount payable would be $2,500 (based on advice, research, negotiation and administration to complete and submit your loan application and put the lending in place, capped at a maximum of 10 hours at an hourly rate of $250)  ​

Where a fee is payable, payment must be made within 14 days of receipt of invoice.​

Conflicts of interest

For mortgages and lending, Mortgage Link Albany and the financial adviser receive commissions from some of the lenders we can provide recommendations for.​​

If you proceed to implement lending with the lender recommended to you, the lender will pay a commission to your financial adviser. The amount of the commission is based on the amount of the lending and will vary depending on the lending provider; specific remuneration will be advised to you when advice is provided.​​

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.​​

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our personalised recommendations are made on the basis of the client’s goals and circumstances, as advised to us. Mortgage Link Albany financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process.

Disputes and complaints

If you are not satisfied with our financial advice service you can make a complaint by emailing Mortgage Link and Insurance Link at: complaints@lfg.co.nz, or by calling 0800 466 784. You can also write to us at: 1/1 Antares Place, Rosedale, Auckland. When we receive a complaint, we will consider it using our internal complaints process:

• We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
• We aim to resolve complaints within 10 working days of receiving them. If we cannot, we will contact you within that time to let you know we need more time to consider your complaint.
• We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

If we cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact Financial Disputes Resolution Scheme (FDRS). FDRS provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. You can contact FDRS by phone 0508 337 337 or email enquiries@fdrs.org.nz.

Duties information

Mortgage Link Albany, and anyone who gives financial advice on our behalf, has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:

• give priority to your interests by taking all reasonable steps to make sure our advice is not materially influenced by our own interests 
• exercise care, diligence, and skill in providing you with advice 
• meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice) 
• meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.