TBB Mortgage Ltd Publicly Available Disclosure
This page sets out the information that our business is required to make publicly available in accordance with the Financial Markets Conduct Regulations 2014 to help you decide if you want to seek our advice.
Company Name: TBB Mortgage Limited
FSP Number: FSP659051
Phone Number: +64 9 415 8896
Email: info@tbbmortgage.com
Licensing Information
We operate as an Authorised Body under a Financial Advice Provider licence issued by the Financial Markets Authority in the name of NZ Financial Services Group Limited (NZFSG) (FSP286965). There are no conditions attached to this licence on the advice that may be given.
Our Duties
TBB Mortgage Ltd, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013. These duties are to:
- Meet the standards of competence, knowledge, and skill and the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct for Financial Advice Providers.
- Give priority to your interests.
- Exercise care, diligence, and skill.
Our Advice and Product Providers
We provide advice to our clients about home loan products. We provide advice about products from certain providers, including:
ANZ, ASB, ASAP Finance Limited, Avanti Finance, Bank of China, Basecorp Finance, BIZCAP, BNZ, CFML, China Construction Bank (New Zealand) Limited, Cressida Capital, DBR, Finbase, First Mortgage Trust, General Finance, Heartland Bank, Industrial and Commercial Bank of China (New Zealand) Limited, Kiwibank, Liberty Financial Limited, Midlands Funds Management, Pallas Capital, Pepper Money, PROSPA, RESIMAC, SBS Bank, Select Home Loan, The Co-operative Bank, TSB, Unity, Westpac.
Fees and Expenses
Generally, we won’t charge you any fee for the advice and transactional solutions that we provide to you. This is possible because, if you act on the advice given, we usually receive commission from the applicable product provider on settlement of a mortgage. However, we may charge a one-off fee in certain situations:
- No commission: If you request services in relation to a product or service for which we do not receive a commission. Any fee will be agreed and authorised by you in writing before services are completed and will be based on an estimate of the time spent providing the advice.
- Repayment of commission: If a product or service provider requires repayment of commission within 28 months of settlement. The fee will not exceed $3,000 (plus GST) and will be calculated at $250 (plus GST) per hour.
- Hourly fee: If you do not proceed with a pre-approval or allow it to lapse without renewal, we may charge an hourly fee of up to $250 (plus GST), capped at $3,000 (plus GST) for up to 12 hours of work.
Should we need to charge you a fee, you will be invoiced and given 30 days to make payment.
Commission and Other Incentives
If you proceed with a product on the basis of financial advice given by your adviser, the adviser, adviser business, and/or the licensee usually receives commission on settlement of a loan. This commission is used to remunerate the adviser and support business operations.
We ensure conflicts of interest do not influence advice by:
- Ensuring advisers follow an advice process that prioritises your needs and goals.
- Providing regular training on conflict management.
- Providing you with a schedule of commission rates and types by product provider, included in the Financial Adviser’s personalised Disclosure Guide.
Conflicts of Interest
We may attend events hosted by industry associations, product providers, and NZFSG, where providers discuss their products. We manage conflicts of interest by prioritising your interests and recommending suitable products regardless of any information received at such events.
Complaints and Dispute Resolution
If you have a complaint, contact our internal complaints service by calling +64 9 415 8896 or emailing info@tbbmortgage.com with the subject line “Complaint – (Your Name).”
We will acknowledge receipt within 24 hours, record your complaint, and notify our Licence Holder. We will aim to resolve your complaint within 7 working days. If we need more time, we will let you know.
If unresolved, you can refer your complaint to our external dispute resolution service, Financial Services Complaints Ltd (FSCL), which is free and independent.
Contact Details:
Financial Services Complaints Ltd (FSCL)
Level 4, 101 Lambton Quay, Wellington 6011
Phone: 0800 347 257
Website: www.fscl.org.nz