Publicly Available Disclosure

Licensing Information

Link Financial Group Ltd trading as Mortgage Link and Insurance Link FSP 696731 holds a licence issued by the Financial Markets Authority to provide financial advice. Backbone NZ 2018 LTD T/A Mortgage & Insurance Link Manawatu-Rangitikei FSP 648469 is authorised by that licence to provide financial advice.

Contact Detail

Link Financial Group Ltd trading as Mortgage Link and Insurance Link is the Financial Advice Provider.

You can contact us at:
Phone: 0800 466 784
Email: admin@mortgagelink.co.nz or admin@insurancelink.co.nz
Address: 1/1 Antares Place, Rosedale, Auckland

Nature and Scope of Advice

Mortgage & Insurance Link Manawatu-Rangitikei advisers provide advice about:

Personal insurance (risk), including health insurance.
Business Risk Insurance (Key Person, Shareholder Protection benefits, Business Overheads/Expenses)
ACC advice
Mortgages and personal lending
Determining how much you can afford to borrow to purchase a property (within lenders affordability guidelines).
Selecting an appropriate lender and mortgage structure.
How to structure your repayments to pay off your mortgage sooner
Structuring and refixing your current lending.

We provide advice in relation to the following lending products:

We provide advice in relation to the following insurance products:

Life insurance
Trauma insurance
Total and permanent disability insurance
Income Protection insurance
Mortgage and household expenses cover
Health/medical insurance

We provide advice in relation to products provided by the following companies:

Fees and Expenses

Mortgage and lending planning fee

Mortgage & Insurance Link Manawatu-Rangitikei advisers are usually remunerated by way of commission, by the providers of the loan products we recommend. On occasion, some providers may not pay a commission. In this situation, we will charge a fee for our advice. The fee payable will reflect the time required to obtain a loan approval for you. Where a fee will be payable for the advice, your Mortgage & Insurance Link Manawatu-Rangitikei adviser will agree the amount of the fee with you prior to obtaining a lending approval. This fee can be added to your loan amount if appropriate and will be paid to Mortgage & Insurance Link Manawatu-Rangitikei at the time your loan is advanced.

Where a Mortgage & Insurance Link Manawatu-Rangitikei adviser has obtained an approval for a specific property from a lender who does pay commission, but you decide not to proceed with the loan, a fee of up to $2,000 (excluding GST) will be payable as remuneration for the time spent on getting an approval. This fee has been calculated on an average of 10 hours of advice, negotiation, and administration to complete and submit your loan application to the provider, at an hourly rate of $200.00 (exclusive GST). This fee is payable within 7 days of you deciding not to proceed with an approval.

Mortgage and lending service fee

If a mortgage is repaid within 28 months of your mortgage settlement, Mortgage Link Manawatu/Rangitikei will have to pay back some of the ‘upfront’ commission received. This must be repaid to the Lender. This is known as ‘commission clawback’. If Mortgage Link Manawatu/Rangitikei is charged with a commission clawback due to the early restructure or refinance of your Mortgage, then Mortgage Link Manawatu/Rangitikei will ask you to repay to Mortgage Link Manawatu/Rangitikei the commission that it has to repay to the lender. This fee is to a maximum of $3,000 (excluding GST), as a cost recovery for the service provided. This has been calculated on an average of 15 hours of advice, negotiation, and administration to complete and submit your loan application to the provider, and work with you and the lender to finalise your settlement, at an hourly rate of $200.00 (exclusive GST).

The above cost recovery only applies if Mortgage Link Manawatu/Rangitikei is not given the opportunity to arrange the restructure or reﬁnance. There will be no fee payable if:

An upfront fee was agreed and paid by the Client when the mortgage was originally drawn, and no commission was received. This would be the case with most short-term loan contracts.
Mortgage Link Manawatu/Rangitikei was given the opportunity but was unable to get a subsequent finance approval.
In Mortgage Link Manawatu/Rangitikei’s opinion, the early repayment of the mortgage was caused by an exception change of circumstances for you.

Commission clawbacks are in no way associated with any Broker fee Mortgage Link Manawatu/Rangitikei may have charged for arranging non-Bank lending.

Insurance Service Fee

No fees are payable by you for insurance advice. However, Mortgage & Insurance Link Manawatu-Rangitikei may charge a fee for financial advice provided to a client if the client cancels a life or health insurance policy within two years of inception. Specific fee information will be advised when the advice is provided. This fee will be payable by the client by the 20th of the month after the policy is cancelled.

Conflicts of Interest

For life insurance and health insurance, Mortgage & Insurance Link Manawatu-Rangitikei and the financial adviser receive commissions from the insurance companies whose policies we can recommend. If you decide to take out insurance that we recommend, the insurer will pay a commission to Mortgage & Insurance Link Manawatu-Rangitikei and/or the adviser who provides your advice. The amount of the commission is based on the amount of premium associated with your cover; specific commissions will be advised to you when advice is provided.

For mortgages and lending, Mortgage & Insurance Link Manawatu-Rangitikei and the financial adviser receive commissions from some of the lenders we can provide recommendations for. If you proceed to implement lending with the lender recommended to you, the lender will pay a commission to your financial adviser. The amount of the commission is based on the amount of the lending; specific remuneration will be advised to you when advice is provided.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us 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 personalised recommendations are made on the basis of the client’s goals and circumstances, as advised to us. Mortgage & Insurance Link Manawatu-Rangitikei financial advisers complete regular training, including how to manage conflicts of interest. Each adviser has a regular compliance review of their advice process and our compliance programme is reviewed annually by our external compliance adviser.

Disputes and Complaints

If you are not satisfied with our financial advice service you can make a complaint by emailing admin@backbonenz.co.nz, or by calling 06 323 0519. You can also write to us at: 51 Fergusson Street, Feilding 4702. When we receive a complaint, we will consider it using our internal complaints process:

We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
We aim to resolve complaints within 10 working days of receiving them. If we cannot, we will contact you within that time to let you know we need more time to consider your complaint.
We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

If we cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you can contact Financial Disputes Resolution Scheme (FDRS). FDRS provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. You can contact FDRS by phone 0508 337 337 or email enquiries@fdrs.org.nz.