Disclosure Information

This disclosure statement was prepared on 15 March 2021.

It is important that you read this document.

This information in this disclosure statement is important. It is intended to help you to find a financial advice provider that meets your needs.
Summit Mortgages Limited (FSP768791) holds a licence issued by the Financial Markets Authority to provide financial advice.

Important information about our business

Summit Mortgages Limited is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services. Financial Services Provider Number is FSP768791

Our office contact details:
Address: 57 Broadway, Matamata 3400
Phone: 07 880 9069
Email: info@summitmortgages.co.nz
Website: www.summitmortgages.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, reverse mortgages and deposit bonds

Product providers we might recommend:

● ANZ, ASB, BNZ, Westpac, Go Home Loans, Sovereign Home Loans, AIA New
Zealand Ltd, ASAP Finance Ltd, Avanti Finance Ltd, CBS, Bank of New Zealand
Limited, Cressida Capital Investment Limited, DBR Ltd, Liberty Financial Ltd, MBG
Ltd, Nelson Building Society, Secure Funding Ltd, Southern Cross Building Society,
Southern Cross Partners Limited, SBS Ltd, Strata Funding Ltd, The Co-operative Bank
Ltd, TSB Bank Ltd.

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 the actual fees with you before we proceed and explain how they are payable.

The following section outlines the types of fees that may apply:

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.

Other costs

Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs. However, we will agree all additional costs with you prior to incurring them.

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. This ranges between
0.55% and 0.85% commission; and
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. This ranges between
0.15% and 0.20% commission.

*Financial Advisers – All our Financial Advisers are paid a flat rate commission and a base
salary to ensure they seek the best product and lender for the client.

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.

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 interests 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 behavior, 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 Kyle Imeson who can be reached via email at kyle@summitmortgages.co.nz or 07 880 9069. Kyle will reply to you within 24-48 hours.

Our internal complaints handling process is as follows:
1. Take on board your complaint
2. Review the information
3. Try to come to a resolution

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 – Financials
Services Complaints Limited (FSCL). This service will cost you nothing, and will help us
resolve any complaints.

You can contact FSCL at:

Address:  PO Box 5967, Wellington 6140
Phone number:  0800 347 257
Email address:  info@fscl.org.nz