Disclosure Statement
Shagun Enterprises Ltd T/A The Mortgage Club
Important information about our business
Shagun Enterprises Ltd T/A The Mortgage Club is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services. Financial Services Provider Number is FSP774135.
Our Office Contact Details
Address: 67 Finch Street, Morningside, Auckland 1022, NZ
Phone: 021 517 057
Email: hemant@themortgageclub.co.nz
Website: www.themortgageclub.co.nz
Nature and Scope of Financial Advice Services
Our Services
- Debt management (including borrowing for personal and investment purposes)
Products we can provide financial advice about
- Loans including mortgages and reverse mortgages.
Product providers we might recommend
AIA Vitality, ANZ Bank - New Zealand, ASAP Finance Limited, ASB Bank, Ascenteon, Avanti Finance, Bank of New Zealand – BNZ, Base Corp Finance, Bluestone mortgages - New Zealand, CFML Lending Limited, Cressida Capital Limited, Fico Finance Limited, First Mortgage Trust, Funding Partners Limited, General Finance Limited, Gold Band Finance Limited, Heartland Bank, Liberty Financial, Metro Finance, Midlands Funds Management Limited, NZCU, Oxford Finance Limited, Pallas Capital Limited, Pioneer Finance Limited, Plus Finance Limited, Resimac - New Zealand, SBS Bank, Southern Cross Finance Limited, Strata Funding Limited, The Co-Operative Bank Limited, TSB Bank Limited, Westpac NZ
Our Fees
The actual fee charged to you will depend on the nature and scope of the advice or service we provide. We will discuss and agree on the actual fees with you before we proceed and explain how they are payable.
Types of Fees
- The fees charged for our advice and services may be based on a combination of:
- A set dollar amount; OR
- a percentage-based fee.
- Our agreed advice and service fees may include charges for:
- Initial advice ongoing; OR
- annual advice and services.
Commissions
For services in relation to loan products, commissions may be paid by the product provider as follows:
Initial Commission
A percentage of the value of your loan balance; and the commissions are between 0.55% and 0.85% of the initial mortgage balance or amount funded.
Ongoing Commission
A percentage of the value of your outstanding loan amount, usually calculated at the end of each month in which you hold the loan or on renewal of products. We may/will also receive 0.15% to 0.20% of the mortgage balance on each anniversary.
The commission received if received is shared with The Mortgage Club for providing the Advisor regular training, compliance support and back-office support.
Conflicts of Interest or Other Incentives
We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.
From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training.
(Discounted CRM, subsidized training for advisers or other non-monetary benefits.)
(Set targets or volume-based agreements or contracts with providers)
How we manage any conflicts of interest
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 undertake an annual independent Compliance Assurance Review.
Our Duties and Obligations to You
We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:
- Meet the standards of competence, knowledge, and skill set out in the Code of Conduct
- Give priority to the clients' interest, and
- Exercise care, diligence, and skill, and
- Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct.
Our Internal Complaints Process
If you have a problem, concern, or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.
Our internal complaints manager is Hemant Choudhary who can be reached via email at hemant@themortgageclub.co.nz, Hemant will reply to you within 2 working days.
Our internal complaints handling process is as follows:
- Acknowledge Complaint and provide Complaint.
- Lodge Complaint in CRM.
- Understand the complaint.
- Respond and Resolve
- Record and Action
Our External Complaints Process
If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme: Financial Services Complaints Limited (FSCL). This service will cost you nothing and will help us resolve any complaints.
You can contact FSCL at:
Address: 5 Franklin Road Freemans Bay Auckland 1011
Phone number: 0800 347 257
Email address: info@fscl.org.nz