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