Disclosure statements

Mortgage Brokers Wairarapa Ltd FSP 770677 holds a licence issued by the Financial Markets Authority to provide financial advice.

Mortgage Brokers Wairarapa Ltd is the Financial Advice Provider. FAP 770677.

You can contact us at:

Phone: 027 624 5509 or 021 179 4608

Email: charles@mbw.co.nz or phillip@mbw.co.nz

Address: 34 Bannister Street, Masterton.

Nature and scope of advice

Mortgage Brokers Wairarapa 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
Fixed rate rollovers
Debt consolidation
Business loans
Reverse mortgages

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

Fees and expenses

Mortgage and lending planning fee

Mortgage Brokers Wairarapa advisers are usually remunerated by way of commission, by the providers of the loan products we recommend. On occasion, some providers may not pay a commission. In this situation, we will charge a fee for our advice. The fee payable will be a reflection of the time required to obtain a loan approval for you. Where a fee will be payable for our advice, your Mortgage Brokers Wairarapa adviser will agree the amount of the fee with you prior to obtaining a lending approval. You will not be sent a bill without discussing and agreeing to this beforehand. This fee can, in most cases, be added to your loan amount and will be paid to Mortgage Brokers Wairarapa at the time your loan is advanced.

Conflicts of interest

For mortgages and lending, Mortgage Brokers Wairarapa 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; 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 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 Brokers Wairarapa financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process, and our compliance programme is reviewed annually.

Disputes and complaints

If you are not satisfied with our financial advice service you can make a complaint by emailing charles@mbw.co.nz, or by calling 027 624 5509. You can also write to us at: 34 Bannister Street, Masterton. 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 28 working days of receiving them using our internal complaints process which can be found on this website – www.mbw.co.nz.
We will contact you by email within 2 days of receiving your complaint. The acknowledgement email will let you know that your concerns are being looked into and will outline the process that will be followed. Our acknowledgement email will provide a summary as to what the complaint is about so that you have the opportunity to clarify whether or not our understanding of the complaint is correct.

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 Brokers Wairarapa, 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 (431K)
exercise care, diligence, and skill in providing you with advice (431L)
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) (431I)
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.

Disclosure Statement

Name: Charles Spilhaus FSP Number: FSP600449 Phone: 027 624 5509

Email: charles@mbw.co.nz

Address: 34 Bannister Street, Masterton 5810

I am a financial adviser and provide advice on behalf of Mortgage Brokers Wairarapa Limited (FAP FSP770677) who are licensed as a Financial Advice Provider by the Financial Markets Authority.

Both Mortgage Brokers Wairarapa Limited and I are registered on the financial service providers registry which can be viewed at fsp-register.companiesoffice.govt.nz

I have been in the industry for 45 years. I have completed the NZ Certificate in Financial Services Level 5 in both residential property lending and investment.

I Work For You

As a Financial Adviser, it is my duty to abide by the Code of Conduct for Financial Service Providers.

I am paid by the providers for the services I provide, however, it is you that I work for. To ensure that I put your interests ahead of my own, I follow a 6-step advice process when providing personalised financial advice which is based on your individual goals and needs.

I provide all of my recommendations in writing so that you have the opportunity to ask any questions you might have before implementing any of my advice.

Mortgage Brokers Wairarapa Limited, 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.

My Services

Home Lending:

I work with banks and lenders to recommend the lending products and solutions that I think best fit your circumstances and requirements from the following providers:

Kiwibank, BNZ, Westpac, ANZ, ASB, Avanti Finance, Basecorp Finance, Bluestone, Heartland Bank, Liberty, Pepper money, SBS Bank, Southern Cross Partners, The Cooperative Bank

In place of an upfront fee, Mortgage Brokers Wairarapa Limited is paid a commission by the recommended lending provider. This commission will range from 0.55% to 0.85% of the total lending, depending on which provider you choose to take a loan with. Some lenders pay a commission upfront and others pay a mixture of upfront and trail commission. I will confirm the amount of commission Mortgage Brokers Wairarapa Limited will receive when I provide my recommendation to you. In the case of non-bank lenders there may be a commission charged.

KiwiSaver:

I am able to provide a generalized advice service for KiwiSaver. This involves discussing what level of financial risk you are comfortable with and recommending a fund type that best matches your attitude toward risk and the length of time until you plan on accessing your funds (from conservative through to aggressive). Once you confirm what type of fund you wish proceed with, I will show you the relevant funds available to you through the providers I work with:

Generate KiwiSaver

Depending on which provider you choose to go with, Mortgage Brokers Wairarapa Limited can be paid an upfront fee and commission of 0.25% pa of funds under management. I will confirm how much Mortgage Brokers Wairarapa Limited will receive when I provide my recommendation.

To ensure that I prioritise your interests above my own, I follow an advice process that ensures my recommendations are made on the basis of your individual goals and circumstances. I complete regular training and learning relevant to my advice, which may include training on managing conflicts of interest and have a regular review of my advice process completed by my Financial Advice Provider.

We are required to

Give priority to your interests by taking all reasonable steps to make sure our advice isn’t 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).

How to raise a concern or complaint about my advice

If you are unhappy with any aspect of my service, please tell me so that we can manage it through my internal complaint process. Our complaints process can be viewed here:

Disputes and complaints