The Legal Stuff

How we do it?

One of our friendly team members would love to make things as easy as possible for you.

We work with you get a home loan approval in place through one of the multiple banks we have a relationship with. We also ensure that you understand the home loan products so that we can come up with a smart structure. 

We want to be here for you through the journey, please feel free to contact the team directly at any point. 

Our Scope?

We specialise in mortgage lending and certain types of insurance. We will help with the following:

  • Reviewing and testing against bank rules before lodging an application
  • Preparation and lodgement of the home loan application
  • Loan structuring
  • Be available for structure advice when you fixed rates mature
  • Assistance in home loan top up request

How much do we charge?

Mostly $0

Our team is paid salaries and at times incentives based on how much business we do.

mortgagesonline.co.nz is paid commissions on any home loan you settle with us. This can be an upfront amount of .5% to .85% of the loan amount. Some of the lenders that pay us less upfront may pay us an ongoing income of .15% – .2% of the loan amount annually(as long as we help you managed the loan structure).

If you pay a substantial part or all of the loan amount back in the first few (around 3 years) our commission can be taken back by the lender.

For this reason we may charge $2,000 only if you repay the loan in full in the first 2 ½ years. (Fees for business loans, developer and property traders can be more)

mortgagesonline.co.nz Ltd is paid commission from the relevant insurance providers if a policy is put in force. The commissions are between 30% and 230% of the first year’s policy premiums. Mortgagesonline.co.nz also receives from 5% to 20% of the policy premiums for each year the policy is in force. 

Our commissions for insurance is subject to a claw back by the provider for cancellations within the first two years. We may charge you for the financial advice that I provide if you cancel your health or life insurance policy within the first two years of its inception. We will use the following formula to calculate the fee:  Cancelation fee = no more than $2,000 for up to 10 hours of work calculated at $200 per hour 


Our Providers?

Mortgage Providers: ANZ, ASB, Westpac, BNZ, SBS Bank, First Mortgage Trust, Southern Cross Finance, Pepper Money, Resimac and Liberty Financial. We may from time to time work with other providers. 

Insurance Providers: AIA, Partners Life, Fidelity, Cigna, Asteron Life and NIB, we may also refer general insurance work to other insurance advisers

Licensing Information

mortgagesonline.co.nz Ltd, is a Financial Advice Provider(FAP) licensed and regulated by the Financial Markets Authority(FMA) to provide financial advice.

Our FSP number is FSP95826.

Duties Information

Mortgagesonline.co.nz Financial Advisers, 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 isn’t materially influenced by our own interests.
  • Exercise care, diligence, and skill in providing you with advice specific to your circumstances.
  • 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).

Complaints handling and dispute resolution

When we receive a complaint, we will consider it following our internal complaints process:

  1. 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. You can log a compliant through your mortgagesonline.co.nz client portal.
  2. We aim to resolve complaints within 10 working days of receiving them. If we are unable to resolve the issue, we will contact you within that timeframe to let you know we need more time to consider your complaint.
  3. 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 you have a problem, concern, or complaint about any part of our service, please notify us so we can attempt to resolve the problem. You may contact our internal disputes service by telephoning 09 625 4693, by email sashi@monline.co.nz, or in writing to Level 1, 11 Bray’s Rise, Onehunga.

If we cannot agree on how to resolve the issue, you may contact Financial Services Complaints Limited. You will not be charged for this service and it will help us resolve any disagreements. FSCL are an independent, not-for-profit, external dispute resolution scheme approved by the Minister of Consumer Affairs. You can contact them by calling 0800 347 257, emailing complaints@fscl.org.nz, website www.fscl.org.nz, in writing FSCL, PO Box 5967, Wellington 6011.

Conflicts of interest

We exist due to happy clients. We can be paid from our suppliers based on the size of the home loan or insurance product you take through our company.

Our team members are paid fixed salaries with a quarterly bonus based on how the whole team performs, not the individual product.

We follow a strong advice process which includes keeping you aware of your options and the risks associated.