Terms of Engagement

Who am I

I (Matthew Tan) am a Registered Financial Adviser (RFA) in New Zealand that specializes in providing personalized mortgage strategies and personal risk advice tailored specifically to your financial goals, whether if it is to be mortgage free faster or to grow your property portfolio to create financial freedom for yourself.

I provide advice on Category 2 Financial Products such as home loans, mortgages, consumer credit contracts, risk insurance, health insurance and other insurance products.

If you have been thinking about purchasing your own home or an investment property, restructuring or refinancing your current loans, or perhaps you simply need some advice on how to manage your debts; you have come to the right person.

I work on a holistic approach along with other professionals such as lawyers, accountants, property inspectors to ensure that you are well looked after in every aspect of the property transaction to help you achieve your financial goals.

Services Framework

Phase One- Getting to Know You

This is the most important part of our whole journey together as it is all about getting to know you and how we could best help you to achieve your goals and immediate needs.

Phase Two- Financial Check

After a coffee or two, we will need to review your current financial situation as it serves as the basis of our personalized advice and mortgage strategy for you. We have invested in our mortgage platform that will allow you to upload your documents with ease in a secure cloud platform.

Phase Three- Strategies

After analyzing and understanding your financial position, we will be able to provide mortgage strategies/advice with a broad range of financial products/services that will cater to your specific needs and goals. We will also recommend the most fit to purpose financial provider and prepare to submit professional loan applications on your behalf. We understand the financial provider's requirements and will deal directly to a dedicated brokering channel within the organization.

Phase Four- Settlement

After you have found the right property and have gone unconditional, we will start the negotiation process with the financial provider to facilitate settlement. As we are are working for you and not for the financial provider, we always aim to negotiate the most favorable terms, interest rates, fees and premiums for you. At this point, we may refer you to lawyers, accountants, insurance adviser and other professionals if required. If you are withdrawing your kiwi saver, you will need to start the application process for the withdrawal in time for settlement.

Phase Five- Reviews & Support

We understand that throughout the duration of your home loan, there could be changes in your financial situation or financial goals. Fear not as we are here for you and will keep a regular check-ups and help you with any on-going maintenance of your loans, whether is to renegotiate the expiry of your fixed rate or a refinancing/restructuring of your home loans.

How do we get paid

We receive commission by the financial providers

  • We may receive a single upfront commission from the lender/provider that we place the loan with
  • We may receive a small "trail" or renewal fee for providing an ongoing service to you on the financial service provider's behalf.
  • We may also receive a small fee from the financial service provider for reviewing your fixed rate loans.
  • We may also receive a referral fee indirectly for the placement of insurance products for you (Personal Risk) if a referral is made to a specialist insurance provider.

As you are probably aware, in New Zealand, our services are normally free as we are paid commission by the financial providers/lenders. However, there are situations where we may charge you a fee.

In a situation where a commission cannot be obtained from the lender/provider, we charge a service fee or application fee to cover our time spent to prepare the application and negotiate the terms on your behalf with the lender/provider. We will always notify you of any fee and obtain your approval before commencing any such work or before you accept a loan offer that may incur a fee.

Please refer to the fee schedule below for clarity and if unsure please contact me directly to discuss your situation.

SERVICES FEE SCHEDULE


Upfront commission not offered by lender

0.85% of loan


Loan repaid within 28 months of settlement date

Refer to claw-back


Financial advice/review without obtaining commission from lender

$350 p/hour


Any loan less than $200,000

$350 p/hour


Negotiating Security Discharge/Release

$350 p/hour


Arranging Bridging Finance

$350 p/hour


Loan application arranged but not followed through

$350 p/hour

Claw-back Recovery Fee

If you repay your loan within 28 months from settlement date, we may be required to pay back all or part of the commission back to the lender. To ensure that the adviser are fairly compensated for the services originally provided to you, we may seek to recover some or all of this cost from you via our "Claw-back Recovery Fee'.

If this happens, we reserves the right to charge you the commission claw-back of up to 0.85% of the value of the loan or the value of the commission claw-back.

Our invoice will be sent to you within 7 days and the invoice is payable within 7 days.

We will not charge you a claw-back recovery fee if we were given the opportunity to secure new lending or refinancing for you. We understand that circumstances may change therefore please communicate with us if there are any changes with your circumstances.

Are you ready to kick off?

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