Enva Mortgages Limited Disclosure

About Enva Mortgages Limited

Enva Mortgages Limited, (FSP1006977) is a Financial Advice Provider that holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services. 

You can find us and our advisers listed on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

The conditions of our licence allow us to provide financial advice services related to our specialist area of residential home lending.

Home Lending

Enva Mortgages Limited refers our clients to Enva Mortgages Limited for home lending advice. For further details please refer to the Enva Mortgages Limited Disclosure.

Providers we work with

Enva Mortgages Limited have chosen to work with the following banks & lending institutions:

  • ASB
  • BNZ
  • AIA
  • Liberty Financial
  • ANZ
  • Westpac
  • SBS
  • Bank Resimac
  • Prospa
  • NZ FMT
  • Avanti Finance
  • Bluestone Mortgages
  • Pepper Money
  • NZCU
  • Southern Cross Partners

This means that Enva Mortgages Limited will only consider the providers listed above when recommending a product to meet your lending needs. 

How we are paid

In place of an upfront fee, Enva Mortgages Limited and/or directly related companies are paid a commission by the providers for arranging the lending on your behalf.

Our financial advisers are paid a fixed salary.  Our salaried advisers may also receive a discretionary bonus based on their contribution to the business.  This is based on their overall performance, including achieving client service levels, compliance obligations, new lending and meeting business objectives.

Personal Risk Insurances & KiwiSaver 

Enva Mortgages Limited refers our clients to Enva Financial Limited for advice about personal risk insurances and KiwiSaver. For further details please refer to the Enva Financial Limited Disclosure.

General Insurance (Home, contents & car)

To ensure that our clients receive the highest level of advice and service, we have a team of Fire and General Insurance Specialists, Blanket Advice Limited that we refer all our clients to. 

If you take out a policy with Blanket on the back of my referral, our advisers may receive a small referral commission depending on which insurance products you take out cover with, after taxes 

Other Conflicts of Interest

Some advisers have a financial interest in the business of Enva Mortgages Limited as a shareholder through a holding company. Any payment of dividends or other distributions to shareholders by Enva Mortgages Limited has no effect on the service provided.

How we manage conflicts of interest and put your interest first

All of the services Enva Mortgages offers are provided free of charge to our clients. This is because we are paid by the lending providers when one of their products is taken up on the back of our recommendation.

Although we are paid by the providers, we always put your interests first:

  • We let you know any limitations of the service we offer
  • We explain how and why the recommended lender meets your individual needs over other providers we work with
  • We identify and disclose the maximum level of commission we may get on the back of our recommendation
  • If our recommendation involves replacing any existing lending, we will explain the advantages, such as overall cost savings
  • We provide a written summary that explains the process we undertook to arrive at your final lending solution
  • Enva Mortgages completes internal and external reviews of our advice process to ensure we follow a thorough review process that puts client interest first

Our Duties

Under the Financial Markets Conduct Act 2013, it is the duty of Enva Mortgages Limited and our advisers to:

  • meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you with advice; and
  • give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected with the giving of advice; and
  • exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and
  • meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as we should and to provide you with suitable advice.

What if something goes wrong

We value the ability of our clients to provide feedback about the service they have received as well as the opportunity to put it right when they are unhappy with any aspect of our service.

If you would like to raise concerns about the service you have received, we have an internal complaint process that we will follow when we receive your formal complaint. 

Our internal process involves: 

  1. Requesting your complaint in writing
  2. Acknowledging the receipt of your complaint within 2 working days of receiving it.
  3. Investigating your concerns by speaking with all the involved parties and reviewing all the documentation we hold on file.
  4. Providing a formal written response within 28 days of acknowledging your concerns. 

If you would like to make a complaint, please email: feedback@enva.co.nz

If you are unsatisfied with the outcome of our internal complaints process, you can escalate it to our dispute resolution scheme:

Scheme: Financial Dispute Resolution Service

Address: Freepost 231075

PO Box 2272

Wellington 6140

Telephone number: 0508 337 337 

Email address: enquiries@fdrs.org.nz

They are an independent dispute resolution service provider that helps resolve complaints about financial service providers, free of charge.