Important Information > Disclosure
Important information about Mortgage Room Limited – FSP439446
License status and conditions
Mortgage Room Limited (FSP439446) is licensed by the Financial Markets Authority to provide financial advise services.
Our contact details are:
Address: The Advice Nest, 19 George Street, Blenheim 7201
Telephone: (+64) 03 579 1167
Email: info@mortgageroom.co.nz
We provide financial advice on Mortgage Products.
We encourage you to read the important information given below. It may help you decide whether your financial needs may be met by engaging with us.
Nature and scope of financial advice service
We engage financial advisers to provide financial advice on the following financial products:
Residential and personal loan products
We, through our advisers, provide financial advice service about residential and personal loan products only from the following providers (also known as lenders):
ANZ Bank New Zealand Limited
ASB Bank Limited
ASB Go Home Loans (AIA)
Avanti Finance Limited
Basecorp Finance Limited
Bank of New Zealand
Gold Band Finance
DBR Property Financiers Ltd
First Mortgage Trust Limited
Heartland Bank Limited
Kiwibank
Nelson Building Society
Pepper New Zealand Limited
Southland Building Society (SBS Bank)
Westpac New Zealand Limited
TSB Bank Limited
The Co-operative Bank Limited
Liberty Finance Limited
Southern Cross Finance Limited
Unity Money
Prospa
Xceda
Bizcap
Gem By Lattitude
We do not provide financial advice service related to:
Analysis of any existing investment or investment advice (e.g. Shares, bonds, managed funds, Kiwisaver etc.)
General Taxation and ownership structure.
General estate planning and asset protection (e.g., Wills, Enduring Powers of Attorney, and trusts of any description).
Insuring your home, contents, car, other asset insurance or risk insurance (such as Life, Trauma, Health, Mortgage and Income Cover).
Retirement Savings
You will need to consult an appropriate specialist if you would like advice on the above. We can refer you to specialists whom we trust have the experience and would have your best interests at heart.
These businesses are independent from Mortgage Room, and operate under their own disclosure documents, scope of advice and terms of engagement.
We always seek our client’s consent before their details are shared with any of our referral partners.
These external providers could include Henny Penny Insurance Ltd (Life, Health & Disability Insurance), Everwise Wealth Partners (financial planning and Investment advisory). Moving Hub (assist with your utility providers when you move house), Initio Insurance (House & Contents, Vehicle insurance) or NZ Forex Ltd – trading as OFX (moving money internationally).
How Our Fees and Commissions Work
At Mortgage Room, most of our services come at no direct cost to you. We are usually paid by the lender when your home loan is settled. We believe in complete transparency about how we are paid and when a fee may apply, so you always know what to expect.
1. Product Provider (Lender) Commission
When you accept and act on our advice, Mortgage Room receives a commission from the lender. If you choose not to proceed with the recommended loan, no commission is paid.
Commission amounts vary depending on the lender and the type of loan, but typically include:
Upfront commission: generally between 0.55% and 1.00% of the loan amount drawn down
Ongoing (trail) commission: generally between 0.10% and 0.20% per year of the outstanding loan balance (not paid by all lenders)
These commissions are paid by the lender and do not increase the cost of your loan. Our advisers are remunerated through a combination of base salary and commission.
2. Fees, Expenses, or Other Amounts Payable
There are no fees charged by Mortgage Room when you obtain a lending facility based on our advice if our costs are covered by the lender. The lender compensates us directly through commission when your loan settles.
However, a fee may apply in specific situations, such as:
Early repayment or refinancing that triggers a lender clawback
Complex lending scenarios
Small loan amounts
Lenders that don’t cover our costs
Significant work completed where the loan does not proceed (once an unconditional loan approval is obtained on your behalf).
If a fee is required, we will always confirm this with you before you proceed. Our hourly fee is $200.
3. Recovery Fee (Clawback Fee)
If your lending is cancelled, repaid, or refinanced within the first three years, the lender may require Mortgage Room to repay some or all of the commission originally paid to us. This is known as a commission clawback.
When this occurs, Mortgage Room charges a recovery fee of $1,000, which reflects:
5 hours of professional work,
at an hourly rate of $200 per hour.
This fee ensures we are fairly compensated for the time, expertise, and administration involved in arranging your lending.
We encourage you to contact us before making any changes to your lending so we can help you explore your options and avoid unnecessary costs.
4. Referral Commissions and/or Fees:
As stated above, where appropriate, we may refer you to external independent businesses to provide you with assistance that is outside our scope of lending advice. Clients are informed of the referral arrangement and if any commissions or referral fees are paid to Mortgage Room.
Our Commitment to Transparency
We want every client to feel informed and confident. Before we begin working together, we will always:
Explain how we are paid
Outline any situation where a fee may apply
Confirm all fees in writing
Seek your acceptance before proceeding
Always seek your consent before your details are shared with any of our referral partners
There are no hidden charges and no surprises.
If you have any questions about our fees, payment terms, or any aspect of our service, we’re always here to help.
Conflict of Interest
In order to maintain high standards and fulfill our obligations to our clients, Mortgage Room Limited undergoes regular reviews and an annual independent Compliance Assurance Review. These assessments ensure that we adhere to industry regulations and meet our responsibilities.
Furthermore, it is important to note that some product providers may provide subsidies to Mortgage Room Limited to cover expenses related to training, technology solutions, and compliance. These subsidies contribute to our ability to offer quality services to our clients.
From time to time, various product providers (described previously) may also reward us for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives.
All our financial advisers undergo annual professional development refresher training about how to manage conflicts of interest which reinforces our dedication to maintaining integrity and transparency in our client relationships. We maintain a register of conflicts of interests, and the gifts and incentives received.
As part of our business model, Mortgage Room Limited receives commissions from product providers as disclosed above.
Rest assured that we prioritize your best interests by following a thorough advice process that takes into consideration your unique circumstances and goals. This process involves a comprehensive comparison of suitable products and services available to meet your needs, ensuring that our recommendations are well-supported and tailored to your specific requirements.
If you have any further questions or concerns regarding our commitment to your best interests, our commission structure, or any other aspect of our services, please feel free to reach out. We are here to provide clarity and assist you in making informed decisions.
Complaints handling and dispute resolution
We take all complaints seriously and work to resolve them as quickly as possible.
If you are unhappy with our financial advice service, and wish to make a complaint, please contact your financial adviser so he or she can try to put things right.
If you do not feel comfortable discussing your concerns with your adviser, you can:
Call us on (+64) 03 579 1167 between the hours of 8:30 am – 5 pm week days
Email us at info@mortgageroom.co.nz
Write to us at 19 George Street, Blenheim 7201, addressing your letter to the attention of the Director.
How your Complaint will be handled
We will deal with your complaint using our internal complaints process. Accordingly,
We will acknowledge your complaint within 24 hours, and investigate your complaint by analysing the information you provided us; and
We may contact you to get additional information about your complaint.
We aim to resolve your complaint within 20 days of its receipt and advise you, in writing, our proposed resolution to your complaint.
If we cannot resolve your complaint to your satisfaction, you can contact the Financial Services Complaints Ltd (FSCL) – An external Financial Ombudsman Service approved by the Minister of Consumer Affairs.
FSCL provides a free, independent and fair external dispute resolution service to consumers with complaints about their financial service providers. This service will not cost you anything.
You can contact the FSCL Scheme at:
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Telephone: 0800 347 257
Address: PO Box 5967, Wellington 6140
Duties
We are bound by the following duties under the Financial Markets Conduct Act 2013 to:
meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you with advice; and
give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected with the giving of advice; and
exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and
meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as we should and to provide you with suitable advice.
Updated July 2026