First Rate Mortgages Limited

License status and conditions

First Rate Mortgages Limited (FSP271665), holds a licence issued by the Financial Markets Authority to provide financial advice. Our trading names are: First Rate Mortgages Ltd; NonBk Ltd – Non Bank Loans, Home Loans, Mortgages and Finance.

Nature and scope of the financial advice given

We provide financial advice about products from a large range of both Bank and Non-Bank providers.

Please click here for a list of our current providers:

We do not provide advice on Personal Life Insurance, Investments such as Shares or KiwiSaver, Home and Contents Insurance.

The financial advice provided to you will only take into account the information you give us about your particular needs, financial situation or goals.

Our duties

First Rate Mortgages Ltd, and anyone who gives financial advice on our behalf, have 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.
• 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}.

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.

The Code of Conduct standards can be read here:

https://financialadvicecode.files.wordpress.com/2021/03/codeofprofessionalconduct-march2021.pdf.

No fees, expenses or other amounts payable for our financial advice

We do not charge any upfront fees, expenses or any other amounts for the initial financial advice given to you.

If you then choose to use our services to arrange finance we will then disclose any lender fees, brokerage fees, or other lending related costs that may be applicable. These can vary depending on which lender provides a loan offer.

How we are remunerated

The lender will pay commission and/or brokerage fees to First Rate Mortgage Ltd once the loan has settled. The amount of commission is based on the amount of the mortgage.

If we refer you to an independent Insurance Specialist, or you access a lender to apply directly through a link on our websites, for a  Personal Loan, a Short Term Business loan or a Business Line of Credit, First Rate Mortgages Ltd and/or NonBk Ltd are unable to provide advice on insurance or financial services offered to you, when you are dealing directly with a third party.

A referral commission will be paid to First Rate Mortgages Ltd, if they can assist you.

Conflicts of interest and commissions or other incentives

We will discuss with you any possible conflicts of interest at the outset and note them in our Loan Recommendation.

To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances.

All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance consultancy firm.

Our complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means:

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

• We will acknowledge your complaint within 2 working days.
• We may require additional information about your complaint or be able to advise how we could resolve it.
• We aim to resolve complaints within 15 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme. This service is free and may help investigate or resolve the complaint.

We are a member of Financial Services Complaints Limited (FSCL) – A Financial Ombudsman. You can contact the Financial Services Complaints Limited at:

Contact Details

First Rate Mortgages Ltd (FSP271665), is the Licensed Financial Advice Provider. Our trading names are: First Rate Mortgages Ltd, NonBk Ltd, Non Bank Loans, Home Loans, Mortgages and Finance.

You can contact us at: