Disclosure Information

Fees or expenses

CrediFlex may charge fees directly to clients.  In this situation, the fees are advised to, and agreed with, the client before  proceeding.  The fees may be in addition to any commission received from a lender.

If you decide to act on our advice, you will need to pay any fees and costs that the lender may charge you for their services. Once we know more about your needs, we will provide you with information about any amounts you would have to pay the lender.

If you act on our advice and obtain finance through our recommended lender, you may need to pay the lender additional fees, such as an establishment fee or documentation fee. The lender will disclose these fees to you if they apply.

Some lenders also charge a ‘broker fee’ which will be added onto your loan if you act on our advice. The lender will pay this broker fee to CrediFlex to cover costs associated with the loan documentation preparation and settlement of your loan. When we provide you advice, we will tell you if a broker fee will be charged.

Conflicts of interest and commissions

Commission

For all non-commercial and commercial loan contracts, we receive commissions from the lenders through which we place business

If you decide to borrow money from a lender for a non-commercial loan product, the following applies.  We provide more details about the commissions that each party receives when we have talked to you about the non-commercial loan product and understood your needs.  A percentage of the commission is paid to the adviser (authorised body) you are dealing with. The amount of commission that each party receives depends on various factors, such as the lender that you use and the amount that you borrow.  

To ensure our authorised bodies and their advisers prioritise clients’ interests:

• Our advisers follow an advice process that ensures their recommendations are made appropriately, based on the clients’ goals and circumstances.
• All advisers undergo annual training about how to manage conflicts of interest.
• We maintain registers of conflicts of interests and the gifts and incentives received. These registers are monitored regularly, and additional training is provided as required.
• CrediFlex undertakes an annual independent Compliance Assurance Review by a reputable provider.

Commercial Loans   

In the event a Commercial Loan is repaid or partially repaid early, a lender or funder may charge the borrower an early termination cost. This will be dependent on the remaining term of the loan, interest rate structure, and other factors determined by the lender or funder. In addition, the lender or funder may require CrediFlex to refund some, or all, of the commission paid to CrediFlex for arranging the loan or other financial products.  

To fairly remunerate CrediFlex for services provided in arranging a loan or financial product, CrediFlex will seek reimbursement from the borrower (CrediFlex client) for any commission refund due to the lender. This amount is payable when the loan is terminated. It is generally included in the loan settlement and repayment process or following the client receipt of an invoice from CrediFlex. 

Non-Commercial Loans 

Where a loan for Non-Commercial Borrowers is repaid or partially repaid early, the lender may charge CrediFlex a fee to cover the cost of the commission paid to us. If this occurs, we may need to recharge this to you. We will advise at the time of accepting a loan if this would apply to your situation. 

Complaints handling and dispute resolution

If you are not satisfied with our service or financial advice provided by our advisers, please tell us as soon as possible.

Call: 0800 273 343 539 or (09) 445 0003

Email:  Accounts@crediflex.co.nz

Write to: PO Box 99094, Newmarket 1149, Auckland

When we receive a complaint:

• We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately.
• If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 business days. We may contact you to get further information about your complaint.
• We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint
• We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so.

If we cannot agree on how to fix the issue, you can contact our external disputes resolution scheme, Financial Services Complaints Limited (FSCL).  FSCL provides a free and independent dispute resolution service that may help to resolve your complaint. To contact FSCL

Call: 0800 347 257 or 04 472 3725

Email: info@fscl.org.nz

Write to: PO Box 5967, Wellington 6140

Duties information

CrediFlex and our advisers have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

• give priority to your interests;
• exercise care, diligence, and skill;
• meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services
• meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.

Contact details

CrediFlex New Zealand Limited is the Financial Advice Provider.

Call: 0800 273 343 539 or (09) 445 0003

Email: Accounts@crediflex.co.nz

Write to: PO Box 99094, Newmarket 1149, Auckland

Submit a form: www.crediflex.co.nz/about/