Terms of Engagement

Who are we?

I am a Financial Adviser engaged by Kingdom Home Loans Limited (trading as Enable Finance).

Kingdom Home Loans Limited is authorised to provide financial advice under a licence issued by the Financial Markets Authority to Newpark 2020 Limited.

My Financial Service Providers number is FSP480226, Kingdom Home Loans Limited is FSP768134.

Newpark 2020 Limited’s (trading as Newpark) Financial Service Provider number is FSP768953.

We are currently based in Auckland, New Zealand and reviews about our services can be seen on our website and on Google Reviews.

We also provide general information to our customers through our newsletters, social media and other digital publications.

My Personal Licence Status
Name: Peng Onn Tan (Matthew)
FPSR number: FSP480226
Contact number: 022-1918866
Email Address: matt@enablefinance.co.nz

My duties and obligations to you

We are financial advisers that work under the Financial Markets Conduct Act 2013 and the Code of Professional Conduct for Financial Advisers guidelines to provide you with financial advice that:

Priorities your best interest by taking all reasonable steps to ensure that our advice is not influenced by our own self-interest.
Ensure you understand the nature and scope of service you ask me to provide
Provide an advice service that is relevant to this scope of service and suitable to your individual circumstances and needs.
Listen to your needs and treat you fairly and take reasonable steps to ensure you understand the financial advice we provide and protect any financial information we hold about you according to the Privacy Act 2020.
Exercise care, diligence and skills when providing you with advice.
Meet applicable standards of competence, knowledge and skill under the code.
Meet standards of ethical behaviour and provide you with financial advice with integrity that is suitable to your personal circumstances.

What financial advice can we provide to you?

We specialises in providing lending and mortgage advice to our clients. The types of financial products we can help you with includes but not limited to the following:

Home loans for first-home buyers and others such as loan refix and restructuring
Investment property loans
Refinancing
Construction and home improvement loans
Mortgage restructuring strategies
Debt Consolidation
Business and Commercial Loans
How to achieve your retirement goal, utilising current investments, your monthly surplus, and your lump sum.

Even though we specialises providing lending advice, we also work with other financial professionals for insurances and other professionals such as lawyers, accountants, real estate agents, property managers, building inspectors through referrals.

In order to provide our clients with the best outcome, we work with a selected number of product providers, banks and non bank lenders alike such as:

ANZ, ASB, BNZ, Kiwibank, Sovereign Home Loans, SBS, Heartland Bank, Resimac, Bluestone, Avanti Finance, Pepper Money, ASAP Finance, First Mortgage Trust, Prospa, DBR, Southern Cross Finance, Cressida Capital, General Finance, Vincent Capital. The list of lenders may change from time to time.

Reliability History

A reliability event is something that might materially influence you in deciding whether to seek advice from me or Newpark. As an example, it would include legal proceedings against me, or if I had been discharged from bankruptcy in the last four years.

There have been no reliability events for Newpark, Kingdom Homes Limited or me.

Services Framework

Phase One- Getting to Know You

This is really an opportunity for us to get to know you and understand how we could best help you to discover and achieve your financial goals and immediate needs.

Phase Two- Financial Check

You will be asked to fill in a series of questionnaires on our secured cloud-based mortgage advisory platform and you can also choose to upload your documents with ease in the platform. We will then move to review your current financial situation as it serves as the basis of our personalized finance advice for you.

Phase Three- Strategies

Once we have finished analyzing and understanding your current financial position and goals, we can start to provide personalized mortgage strategies/advice with a broad range of fit-for-purpose financial products/services that are aligned with your specific needs and goals. We will then prepare and submit a professional loan application on your behalf to the dedicated brokering channel within the lender’s organization.

Phase Four- Settlement

With a pre-approval offer letter and the right strategies, you can now go with confidence to look for your dream property. We will support you throughout this phase until you go unconditional and we can move on to facilitating the loan settlement. If needed we can refer you to lawyers, accountants, insurance advisers, and other professionals to support you. If you are withdrawing from your Kiwisaver, this is also when you will need to start the withdrawal application process.

Phase Five- Reviews & Support

We are committed to ensuring your financial success and we will always be here for you. We understand that throughout the duration of your home loans, there could be changes in your financial situation and financial goals. To support that, we provide ongoing loan maintenance services that cover free annual reviews, renegotiation of the expiry of your fixed-term loans, refinancing/restructuring, and up-to-date market insights.

How do we get paid?

We generally do not charge any fees, expenses, or other amounts for the financial advice that we provide to our clients as we receive a commission from the financial providers or referrals except in particular circumstances and agreed in advance with you. Any fees will be based on time spent and the complexity of the work that we need to undertake.

Circumstances when we may need to charge:

We provided a service where we are not able to obtain any commission from the providers/lenders.
We provided a service where broker commission is paid by the client.
You decide not to take the loan arranged by us.
You refinance or pay off a loan within 36 months of taking it out.

We will always notify you of any fee and obtain your approval before commencing any such work or before you accept a loan offer that may incur a fee.

Our remuneration:

We may receive a single upfront commission from the lender/provider with whom we place the loan with
We may receive a small “trail” or renewal fee for providing an ongoing service to you on the financial service provider’s behalf.
We may also receive a referral fee indirectly for the placement of insurance products for you (Personal Risk) if a referral is made to a specialist insurance provider.
We may also receive a referral fee indirectly when referring you to the real estate agent or property manager.
I am remunerated as a shareholder and director of Kingdom Homes Limited primarily by drawings and shareholder salary. Newpark and my company receive all commissions and client fees that are generated by me. Depending on the Company/ies and product/s you choose, Newpark and Kingdom Homes Limited will be paid a commission.
From time to time product providers may also reward me for the overall business we provided to them. They may give us tickets to sports events, hampers or other incentives.
Mortgage commissions may be between 0.5% and 0.85% as a percentage of the loan granted.
Kingdom Homes Limited also receive a commission of between 0.00% and 0.30% as a percentage of the loan granted for each year the mortgage remains in place

Our Fees

We do not charge you a fee if you decide to take a loan. The lender may pay us a commission if you decide to take up our advice and when your loan settles. However, we may charge you for the financial advice that we provide if you cancel or refinance your mortgage within the first two years after it settles. This will be based on the time it has taken to prepare my advice. The average charge for this service is $2800 which is calculated at 8 hours x $350 per hour.

We will invoice you for this fee and it will be payable on the 1st or 16th of the month following the cancellation of your policies. Details of how to make payment will be included on the invoice.

We will always notify you of any fee and obtain your approval before commencing any such work or before you accept a loan offer that may incur a fee.

Conflict of interests and commissions

We are committed to providing financial advice that is impartial and delivering good outcomes for all our clients.

To ensure that we and our advisers prioritise your interests above our own, we follow an advice process that ensures our recommendations are appropriate for our client’s individual goals and circumstances. All our advisers and nominated representatives complete annual and ongoing training about how to manage conflicts of interest. We monitor these compliance programs annually and provide additional training where necessary.

Kingdom Home Loans may receive upfront as well as ongoing “trail” commissions from the providers whose products we advise on and some providers will also give us a small administration fee when servicing our clients.

You should be aware there are potential conflicts of interest that you the Client may need to take into consideration when you decide to seek and accept financial advice from us or our advisers. We will make you aware of any conflicts when giving advice.

Complaints and how to make them?

If you are dissatisfied with our services, you can make a complaint by emailing us at complaints@enablefinance.co.nz, or by calling us at 09 39 000 39.

When we receive a complaint, we will consider your complaint and follow our internal complaints resolutions process and let you know how we intend to resolve it:

Where possible, we will endeavor to resolve your complaint immediately.
If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 working 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 resolve your complaint using our internal complaints resolutions process, or if you are not satisfied with the way we have attempted to resolve your complaint, you can contact our external disputes resolution scheme providers. Financial Services Complaints Limited (FSCL). FSCL is an external Government approved dispute resolution scheme provider. FSCL provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction.

You can contact FSCL:

Call: 0800 347 257

Email: complaints@fscl.org.nz

Write to: PO Box 5967, Wellington 6140

Website: http://www.fscl.org.nz

Privacy Act 2020

Anything that you discuss with us, and any information you give us, stays secure and confidential. The Privacy Act 2020 gives you the right to request access to and correct your personal information.

Any information provided by you and/or any authorized agent will be use by Kingdom Home Loans for the purpose of providing advice to you and may also be used by any:

product or service provider when implementing any of my/our recommendations or variations thereof;
compliance advisers, assessors or by any claims investigators who may need to access such information;
professional service providers such as solicitors, accountants, finance brokers, financial planners when such services are required to complement our advice and as requested by you;
by Kingdom Home Loans Advisers or our dispute resolution scheme for quality control and for the management of complaints and disputes.
from time to time, staff or subcontractors at Kingdom Home Loans may also assess your data as part of the service provided.

The information will be held by me/us at the office of Kingdom Home Loans, Auckland. During times when the advisors are overseas, your data may also be assessed via cloud software.