Disclosure Statement
Horizon Mortgages licence status and conditions
Horizon Mortgages Limited is a Licensed Financial Advice Provider, issued by the FMA to provide financial advice services. Our Financial Services Provider Number is: FSP 766432.
Our contact details are:
Address: Level 3, 54 Wellesley St West, Auckland Central, New Zealand
Telephone: 021 88 80 88
Email: info@horizonmortgages.co.nz
We provide financial advice on Mortgage Products and Consumer Credit Contracts.
We encourage you to read the important information given below. It may help you decide whether your financial needs could 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 loan products only from the following providers (also known as lenders):
- ANZ Bank New Zealand Limited
- ASB Bank Limited
- Bank of New Zealand
- Westpac New Zealand Limited
- Kiwibank Limited
- TSB Bank Ltd
- SBS Bank
- The Co-operative Bank Limited
- AIA Services New Zealand Limited (formerly Sovereign Home Loans)
- Bank of China
- China Construction Bank
- Unity Credit Union
- ASAP Finance Limited
- Avanti Finance Limited
- Basecorp Finance Limited
- DBR Limited
- Pepper New Zealand Limited
- Resimac Financial Securities Limited
- Bluestone Servicing NZ Limited
- Cressida Capital One Limited
- Liberty Financial Limited
- Funding Partners Limited
- First Mortgage Trust
- Heartland Bank
- Plus Finance Limited
- Prospa
- Southern Cross Partners
- Omega Capital Corporation Ltd
- Simplify
We do not provide advice in respect of the following products:
a) Investment products (e.g., shares, bonds, managed funds, etc.) and KiwiSaver products; and
b) Estate planning (such as Wills, Enduring Powers of Attorney, and trusts of any description); and
c) General Insurance products; and
d) Personal Risk Insurance products, these enquiries are referred to a suitably qualified third party.
You will need to consult appropriate specialists if you would like advice on a, b, c or d above.
Fees, expenses, or other amounts payable
In the majority of cases, we do not charge any fees, expenses or other amount payable for the financial advice provided to you or for implementing that advice. Our remuneration is paid by the product providers by way of commission. This particularly applies to loans arranged with banks.
Certain non-bank lenders do not pay commissions, so a fee is charged on settlement only.
If you decide not to act on our advice, then we may charge you an hourly fee of $300 for the services performed. This will be based on the time it has taken to prepare the advice.
We may also charge a fee for the financial advice service provided to a client where a client repays a residential home loan within three years from the date it is drawn down. This is known as a clawback, and it is effectuated by the lender by way of claiming back the commission.
We will invoice you for this fee and it will be payable on the 20th of the month following the month the clawback or fee is charged. Details of how to make payment will be included on the invoice.
Conflicts of interest and commissions or other incentives
Horizon Mortgages and the Kiwi Advisor Network (KAN) will receive commission from the lenders who provide residential and personal loan products. If you decide to take out a residential or personal loan, then the lender will pay commission based on the amount of the loan that is settled with that lender.
Our advisers get remunerated by taking drawings from the company.
From time to time, various product providers (described previously) may also reward Horizon Mortgages and/or KAN for the overall business provided to them. They may give tickets to sports events, 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 recommendations are made based on the client’s personal goals and circumstances. All our financial advisers undergo annual professional development refresher training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives received.
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 and
- 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 complaints process
If you are not satisfied with our service you can make a complaint through the following methods:
- By logging into the Horizon Mortgages client portal (hosted by Trail) and pressing on the “Make a Complaint” button on the bottom right of the page.
- By contacting the financial adviser directly
- By sending an email to Florence Falconer on florence@horizonmortgages.co.nz
Once we receive a complaint, we follow an internal procedure to ensure we address the issue.
Our process will:
- Acknowledge your complaint within two working days
- Inform you how we will address the complaint
- Gather any information that will help us resolve the complaint
- Aim to resolve the complaint within at least 15 working days
- If we cannot resolve the complaint within this timeframe, we will update you regarding the next steps.
If you are not satisfied with how we addressed or resolved your complaint, you can contact Financial Services Complaints Ltd (FSCL). They are an independent dispute resolution service that costs you nothing to use and will help us resolve any disagreements or finalise outstanding complaints.
Their contact details are:
Financial Services Complaints Limited
PO Box 5967
Wellington 6140
0800 347 257
04 472 3725
complaints@fscl.org.nz
info@fscl.org.nz
If the complaint is not referred to FSCL within 3 months, FSCL will be unable to consider the complaint. FSCL may extend the period from 3 months to 6 months in exceptional circumstances, such as a recent death of a family member, serious health issues, or significant incapacity.