FAQ
About Mortgage Advisers in New Zealand
Mortgage advice is a completely free service for you. Advisers are paid a commission by the lender once your mortgage is settled — not by you. However, your adviser will be transparent about any potential “clawback” periods, which may apply if the loan is repaid or refinanced too early.
A mortgage adviser helps you find the most suitable home loan based on your financial situation. They guide you through the application process and work with lenders on your behalf.
Yes, mortgage advisers must be licensed and registered under the Financial Markets Authority (FMA). They must follow a strict Code of Conduct and put your interests first.
Not always. Some advisers work with a limited panel of lenders. It’s a good idea to ask which lenders they deal with to ensure you get a wide range of options.
Yes. Many advisers have experience working with clients who have poor credit and can connect you with lenders that are more flexible.
Borrowers are protected under the Credit Contracts and Consumer Finance Act (CCCFA). Lenders must ensure loans are suitable and not cause undue hardship.
The Reserve Bank of New Zealand sets lending restrictions—like Loan-to-Value Ratios (LVRs)—to help manage risk in the housing market. These rules may affect how much you can borrow.
You’ll need to supply documents like proof of income, ID, bank statements, expenses, and details of any existing loans or debts.
You can search the Financial Service Providers Register (FSPR) online to confirm an adviser’s registration and license.
First, raise it directly with the adviser. If it’s not resolved, you can escalate it to their independent dispute resolution scheme or contact the FMA for guidance.