Financial Advice Provider Disclosure Statement
Cross Country Mortgages
This Disclosure Statement provides you with important information about the financial advice services provided by Cross Country Mortgages Limited ( ‘Cross County’, ‘we’ , ‘us’ and “our”). This Disclosure Statement was prepared on 17th April 2022
Cross Country Mortgages Limited is authorized to operate under the license held by New Zealand Financial Services Group
Financial Advice Provider: Cross Country Mortgages Limited
Trading As: Cross Country Mortgages FSPR Number: FSP773970
Address: 3 Barbary Avenue, Kelston
Phone: 021 906767
We are fully licensed issued by the Financial Markets Authority in the name of: NZ Financial Services Group to provide a financial advice service.
FSP Number: FSP773970
Nature and Scope of Advice
The information below will help you understand what type of advice will be provided.
Services we provide
Cross Country Mortgages will help you choose a loan that is suitable for your purpose from a panel of lenders (see below). Once we have chosen a lender and loan terms that are suitable for you, we will help you to obtain an approval.
Banks and lenders we use
We source loans from a panel of approved lenders. The current lenders we can use are:
ANZ, ASB, BNZ
ASAP Financial, Avanti Finance
Cressida, DBR, First Mortgage Trust
Heartland Bank, Liberty Financial
NZCU, Pepper Money, RESIMAC
SBS Bank, SELECT, Southern Cross
The Co-operative Bank
Basecorp Finance, Westpac
Products we Provide
The types of financial advice products we can give advice on are:
• Home Loans
• Investment Loans
• Construction Loans
Fees and Expenses
Generally Cross Country Mortgages won’t charge you any fees for the financial advice we provide to you. This is possible because, on settlement of a loan, we usually receive commission from the lender. Any exceptions to this general position are explained below
We may charge you a one-off fee if the following occurs:
When we don’t receive commission from the lender: If you request that we provide financial advice and we do not receive a commission from the lender, we may charge you a one-off fee. Any such fee would be agreed and authorized by you in writing before we complete the services, and would be based on an estimate of the time spent providing the advice
(This may arise in the rare event that you request that we provide services in relation to either a product that is offered by a lender that we do not hold an accreditation with, or a product that is outside our usual arrangements with our product providers).
You will be invoiced for any one-off fee and will be given 30 days to make payment
Conflict of interests and Commissions
On settlement of a mortgage, we usually receive commission from the applicable product provider. The commission is generally of an upfront nature but may also include a trail commission. We also receive a fixed rate roll over fee from some product providers if we assist in refixing your loan.
We manage these conflicts of interest by:
Always recommending the best product for your purpose regardless of the type and amount of commission we will receive.
Ensuring the amount of any loan is in accordance with your identified needs.
Providing you with the below table showing commission rates and types by product provider. The commission we receive on loans is calculated as a percentage of the loan.
Lender Upfront% Trail% Refix ($)
ANZ 0.85%, 0.00% 150
Westpac 0.60% 0.20% 0
BNZ 0.55% 0.15% 0
ASB 0.85% 0.00% 150
ASAP 0.00% 0.00% 0
Avanti 0.80% 0.00% 0
Cressida 1.00% 0.00% 0
DBR 1.00% 0.00% 0
First 0.00% 0.00% 0
Heartland 1.50% 0.00% 0
Liberty 0.60% 0.15% 0
NZCU 1.00% 0.00% 0
Pepper 0.60% 0.15% 0
RESIMAC 0.60% 0.15% 0
SBS Bank 0.80% 0.00% 150
SELECT 0.60% 0.15% 0
Southern 1.00% 0.00% 0
Sovereign 0.60% 0.20% 0
The 0.70% 0.00% 150
TSB 0.85% 0.00% 0
Basecorp 0.85% 0.00% 150
As soon as we know the type of loan and amount, we are putting in place, and that it has been accepted by the lender, we will let you know the amount and frequency of the commission received.
We can also receive a referral fee or commission if we refer you to our referral partners
If you have a complaint about our financial advice or service, you need to tell us about it:
You can contact our internal complaints service by
Phone on 02102571580
Email firstname.lastname@example.org using the heading Complaint – (Your Name)
Please set out the nature of your complaint, and the resolution you are seeking. We will acknowledge receipt of this within 24 hours.
We will then record your complaint in our Complaints Register and will work with you to resolve your complaint.
We may want to meet with you to better understand your issues. We will provide an answer to you within 7 working days of receiving your complaint.
If we cannot agree on a resolution, you can refer your complaint to our external dispute resolution service.
This service is independent and will cost you nothing and will assist us to resolve things with you. Details of this service are
0800 347 257
Availability of Information
This information can be provided in hardcopy upon your request by contacting us at email@example.com
Cross Country Mortgages limited as at - 02/10/2022