Important information about our business

Licensing information

We operate as a Financial Advice Provider under a current licence issued by the Financial Markets Authority in the name of NZ Financial Services Group Limited (FSP286965). 

There are no conditions attached to this licence on the advice that may be given.
Mortgage First New Zealand Limited operates as an Authorised Body under NZ Financial Services Group Limited. Our FSP No. is: FSP773712

Our office contact details
Address: 46 West Belt, Lincoln 7608
Phone: 03-343-5432

Our advice and Product Providers

We provide advice to our clients about home loan products. These products are from certain providers: 
ANZ, Westpac, BNZ, ASB, Kiwibank, SBS Bank, TSB, The Co-operative Bank, Avanti Finance, ASAP Finance Limited, Cressida Capital, DBR, First Mortgage Trust, Heartland Bank, Liberty Financial Limited, Unity, RESIMAC, Select Home Loan, Southern Cross, Basecorp Finance, Zip Business, CFML. 

With your consent, we may also refer you to an Insurance specialist who can advise on insurance products to protect you and your assets.


On settlement of a loan or issuance of a risk or fire and general insurance policy, we usually receive commission from the applicable product provider. The commission is generally of an upfront nature but may also include a renewal or ongoing commission payment. We also receive a 'fixed rate roll over fee' from some product providers if we assist in reviewing your loan. 

This commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running our business including any rent, staff costs and IT resources. From this commission we also pay NZ Financial Services Group Limited for services they provide to us in connection with our authorisation under their licence from the Financial Markets Authority.

We take steps to ensure that the receipt of commissions does not influence the advice we give to you and that our advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of commission we or they may receive. We do this by:

  • Ensuring our advisers follow an advice process that ensures they understand your needs and goals and that their recommendations on insurance cover meets those needs and goals.
  • Ensuring our advisers receive regular training on how to manage conflicts of interest.
  • Providing you with a schedule showing commission amounts and types by product provider. This schedule is contained within each Financial Adviser’s personalised Disclosure Guide. A Financial Adviser will provide you with more information about commissions during the advice process.

Fees and Expenses

Generally, we don’t charge you any fee for the advice and transactional solutions that we provide to you. This is possible because, on settlement of a mortgage or issuance of a risk insurance policy, we usually receive commission from the applicable product provider as described above. There are two exceptions to this general position which is explained below.

We may charge you a one-off fee in the following situations:

(a) No commission: If you request that we provide services in relation to a product or service and we do not receive a commission. Any such fee would be agreed and authorised by you in writing before we 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 we provide services in relation to either a product that is offered by a provider that we do not hold an accreditation with, or a product that is outside our usual arrangements with our product providers.

(b) Commission has to be repaid: If you make certain changes to your loan, the lender can require me to repay to them the commission I received for your loan - this is called a ‘clawback’ and can be up to 100%
of the commission. This may occur if your loan is fully or partially repaid, or the terms materially changed within 28 months of settlement of your mortgage. 
Any such fee would be no more than $3,000 (plus GST) and would be calculated based on a rate of $250.00 (plus GST) per hour of the financial adviser's time spent providing services to you in connection with the applicable mortgage or insurance. The fee charged would not exceed the amount of commission that needs to be paid back to the lender. 

(c) Adviser fee
Some lenders (for example non-bank lenders) charge a fee which is capitalised (or added) to the amount of your loan. This fee is normally calculated as a percentage of your loan at drawdown but can be a flat fee - the fee for your specific scenario would be advised in advance. 

Should we need to charge you a fee (in examples A or B above), you will be invoiced and will be given 30 days to make payment. 

Conflicts of Interest

Our advisers receive a salary as an employee of Mortgage First New Zealand Limited.
We have contractual relationships with some of our lenders that require our advisers to place an agreed amount of business with them.
To ensure our advisers prioritise our clients’ interests:
• We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances
• All our advisers undergo annual training about how to manage conflicts of interest
• We maintain registers of conflicts of interest and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required
• We are regularly audited by NZFSG 


We are legally required to provide a Complaints Process. If you have a complaint about our service you need to tell us about it. You can contact our internal complaints service by phoning us on 03-343-5432 or emailing us at info@mortgagefirst.co.nz with the heading Complaint - (Your Name), or writing to us at: Mortgage First, 46 West Belt, Lincoln 7608 

Please set out the nature of your complaint, and the resolution you are seeking. We will acknowledge receipt of this within 2 working days. We will then record your complaint in our Complaints Register and we will work with you to resolve your complaint. 

We aim to provide an answer to you within 7 working days of receiving your complaint. If we need more time to investigate your complaint, we’ll let you know.

If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service. This service is independent and will cost you nothing and will assist us to resolve things with you.

Details of this service are:
Financial Services Complaints Limited (FSCL) - A Financial Ombudsman Service
Email: complaints@fscl.org.nz
Phone: 0800 347 257
Website: www.fscl.org.nz
Address: FSCL, PO Box 5967, Wellington 6140

Our Duties

Anyone within our business giving advice is bound by and supports the duties set out in the Financial Markets Conduct Act 2013. These duties are:

  • Meet the standards of competence, knowledge, and skill and the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct for Financial Advice Providers.
  • Give priority to your interests.
  • Exercise care, diligence, and skill.

Keen to get started?

For an initial chat, call Sam, Anthony, Guy or Karen on (03) 343 5432 or email us.

Mortgage First

© 2017 Mortgage First (NZ) Ltd. All Rights Reserved

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