Mike Walker

Phone: 03 578 7474

Mobile: 021 172 7809

Email: mike@mortgagespecialist.co.nz                                                 

Financial Service Provider Registration: FSP733171

Address: 73C Maxwell RD

                   Blenheim 7201

Here is some key information you need to know to help you understand what type of advice I am able to give you, so that you can make an informed and confident choice when engaging me

Details about me and Mike Walker Mortgages

I am a Financial Adviser and I give advice on behalf of Mike Walker Mortgages Ltd. My contact details and my Financial Service Provider Registration number are listed above

I work for Mike Walker Mortgages Ltd. who operates as a Financial Service Provider under a current licence issued by the Financial Markets Authority in the name of NZ Financial Services Group Limited (FSP286965).

Address:

73C Maxwell RD

Blenheim 7201

Phone: 03 578 7474

Email:  mike@mortgagespecialist.co.nz

Financial Services Provider registration number: FSP733171

Nature and Scope of Service

The information below will help you understand what type of advice will be provided.

Our Duties

I am bound by and fully support the duties set out in the Financial Markets Conduct ACT 2013. These duties

are:

• Meet the standards of competence, knowledge, and skill set out in the code of conduct.
• Give priority to your interest
• Exercise care, diligence, and skill.
• Meet the standards of ethical behaviour, conduct, and client care set out in the code of conduct.

Service I Provide

I will help you choose a lender and a loan that is suitable for your purpose from the panel of lenders we work with (see overpage). Once we have together chosen a lender and loan terms that are suitable to you, I will help you to obtain an approval.

Banks and Lenders I Use

I source loans from the following panel of approved lenders.

• ANZ
• ASB
• Avanti Finance
• BNZ
• The Cooperative Bank
• Cressida Capital

• DBR
• First Mortgage Trust
• Heartland Bank
• Liberty Financial
• Resimac

• SBS Bank
• Select
• Southern Cross
• Westpac

The types of financial products I can give advice on are:

•  Home Loans
• Investment loans
•  Construction Loans

Services I cannot offer

I am unable to offer legal or tax advice and recommend you consult your solicitor or accountant for this. Any advice I give in relation to KiwSaver withdrawal for a first home purchase is limited to factual information on what can be withdrawn and the process for this, and does not extend to whether or not this is in your best interests. Please consult an investment adviser for advice on retirement savings.

Fees and Expenses

Generally, I won’t charge you any fees for the financial advice I provide to you. This is possible because on the settlement of a loan I usually receive commission from the lender. Any exceptions to this general position are explained below.

I may charge you a one-off fee if the following oCcLiFs:

(a)    When I don’t receive commission from the lender:

If you request that I provide financial advice and I do not receive commission from the lender, I may charge you a one-off fee. Any such fee would be agreed upon and authorised by you in writing before I complete the services, and would be based on an estimate of the time spent acting on your behalf and providing the advice.

This may arise in the rare event that you request that I provide services in relation to either a product that is offered by a lender that I do not hold an accreditation with, or a product that is outside my usual arrangements with my product providers.

(b)   When I have to repay commission to the lender.

If a lender requires that I repay commission within 28 months of settlement of your loan, we may charge you a one-off fee. Any such fee would be no more than $2,500 (plus gst) and would be calculated based on a rate of $250 plus gst per hour of time spent providing our services and financial advice to you in connection with the applicable loan.

The fee I charge you will not exceed the amount of commission I have to repay the lender.

You will be invoiced for any one-off fee and will be given 30 days to make payment.

On settlement of a loan, I usually receive a commission from the applicable lender. The commission is generally of an upfront nature but may also include trail commission. I also receive a fixed rate roll over fee from some product providers if I assist you with the refixing of your loan.

I manage these conflicts of interest by:

• Always recommending the best product for your purpose and needs irrespective of the type and amount of commission I will receive.
• Ensuring the amount of any loan is in accordance with your identified needs.
• Providing you with the following table showing the commission rates and types by lender. 

Note that the commission I receive is calculated as a percentage of the loan.