Financial Advice Provider Disclosure Statement For Mortgage Products

VC Finance Limited Licence status and conditions

NZBN: 9429050039432

VC Finance Limited is a Licensed Financial Advice Provider, issued by the FMA to provide financial advice services. Financial Services Provider Number is: FSP1002547 (Class 2).

Financial Advisers: Deepak Sharma (FSP1002826)

Please follow this link to search the FSP register: https://fsp-register.companiesoffice.govt.nz/

Our contact details are:

Address: 51 Bellbird Street, Papakura, Auckland, New Zealand 2110
Telephone: +64 09-610-5810
Email: admin@vcfinance.co.nz

We provide financial advice on Mortgage Products and Consumer Credit Contracts. We encourage you to read the important information below, which may help you decide whether our services meet your financial needs.

Nature and scope of financial advice service

We offer financial advice on residential mortgage products. Our guidance covers loan options exclusively from the following approved lenders:

ASB Bank, ANZ Bank, BNZ Bank, Westpac Bank, Kiwibank, Avanti Finance, ASAP Finance, Bank of China, Basecorp Finance, DBR, First Mortgage Trust, General Finance, Industrial and NZ Credit Union Baywide, Cressida Capital, Funding Partners, Heartland Bank, Liberty Finance, Lock Finance, Plus Finance, Prospa, SBS Bank, Southern Cross Partners, Zip Finance, Pepper Money, and Simplify.

We do not provide advice in respect of the following products:

• Investment products (e.g., shares, bonds, managed funds, etc.) and KiwiSaver products; and
• Estate planning (such as Wills, Enduring Powers of Attorney, and trusts of any description); and
• General Insurance products; and

You will need to consult appropriate specialists if you would like advice on any of above mentioned four products.

Fees, expenses, or other amounts payable

For most mortgage transactions, there is no direct cost to you. VC Finance Ltd receives commission or fees through one of the following methods:

• Commission: Some banks/lenders pay Upfront range from 0.55% TO 0.88% depend on the bank.
• Service fee: Some banks/lenders pay from 0.15% to 0.25% per annum until the loan paid in full.
• Referral fee: Anywhere from 5% to 30% from net commission.

There are, however, a minority of the product providers that may charge a brokerage fee to you, the client, and may pass some or all this fee to VC Finance Ltd. Our financial advisers may also negotiate and charge you, the client, for a nominal fee for our services depending on the circumstances. Any fee required to be paid will also be disclosed to you in the Statement of Advice and Final Disclosure provided to you by our financial advisers.

Conflicts of interest and commissions or other incentives

VC Finance receives commission from lenders who provide residential loan products and from insurance providers for the policies they offer. If you decide to take out a residential loan or insurance policy, the lender or insurer will pay commission based on the amount settled. Our advisers are remunerated through company drawings. From time to time, various product providers may also reward us with incentives such as tickets to events, hampers, or other gifts. To ensure our advisers prioritize your interests, we follow a strict advice process based on your personal goals and circumstances. All advisers complete annual professional development on managing conflicts of interest, and we maintain registers of any conflicts, gifts, and incentives received.

Our Duties and Obligations to you

VC Finance Ltd and its advisers have duties under the Financial Markets Conduct Act to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code), which is available on the Financial Markets Authority’s website (fma.govt.nz).
• Give priority to the clients’ interest.
• Exercise care, diligence, and skill.
• Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct

Internal complaints process

If you have a problem, concern, or complaint about any part of our advice or service, you can reach us via clicking here, email: admin@vcfinance.co.nz or call: +64 09-610-5810. We will reply to you within 5 working days. We will review the complaint and discuss with you how we can resolve this. We aim to resolve our complaints in a timely manner and will indicate to you the time this compliant for take to resolve. We will communicate with you in the method you prefer – phone, email or written. If we cannot resolve this complaint in a manner which is acceptable then you can contact our free independent dispute resolution service.

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 – Financial Services Complaints Limited. This service will cost you nothing and will help us resolve any disagreements. You must bring your complaint to FSCL within 3 months of receiving our decision letter. If you do not raise the complaint with FSCL within this time frame, FSCL will not be able to investigate your complaint.

Membership Number – 8846

You can contact FSCL:
In writing – PO Box 5967, Wellington 6145
By email – complaints @fscl.org.nz
By telephone – 0800 347 257

You also have the right to address your complaint to the Financial Markets Authority (FMA). Details of the FMA complaints process are available on the FMA website.

Financial Markets Authority (FMA)
Website: https://www.fma.govt.nz
Address: Level 2, 1 Grey Street, PO Box 1179, Wellington 6140
Phone: 04 472 9830