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Disclosure Statement

Important information about Indus Mortgages Limited, our advisers, the advice we provide, and how we are paid. This document is required under the Financial Markets Conduct Act 2013.

Note: You are entitled to receive this information before we provide you with financial advice. Please read it carefully. If you have any questions, ask us before we proceed.

About Indus Mortgages Limited

Indus Mortgages Limited is a Financial Advice Provider (FAP) licensed under the Financial Markets Conduct Act 2013. We are registered on the Financial Service Providers Register (FSPR).

  • Company name: Indus Mortgages Limited
  • FAP licence number: FSP773194 (verifiable on the FSPR at fspr.govt.nz)
  • NZBN: 9429030786202
  • Office address: Level 1, 8B Carr Road, Three Kings, Auckland 1042
  • Phone: 0800 744 844 / 022 300 5863
  • Email: hello@indusmortgages.co.nz

Our Financial Advisers

Financial advice is provided by the following advisers who operate under our FAP licence:

Biju Surendran

Financial Adviser
FSP1007292

Soumya Shine

Financial Adviser
FSP 4117046

The Nature and Scope of Our Advice

We provide financial advice in relation to residential mortgage lending, including:

  • Home purchase loans (including first home buyers)
  • Refinancing and loan restructuring
  • Investment property finance
  • Construction and land loans
  • Self-employed and non-standard lending
  • Debt consolidation

We do not provide advice on insurance (unless separately disclosed), KiwiSaver, investments, or managed funds. Where insurance advice is provided, this will be disclosed to you separately.

We work with a panel of lenders including major New Zealand banks, second-tier lenders, and non-bank lenders. We will always recommend the product that we consider most suitable for your individual circumstances from the lenders we have access to.

Our Duties

We, and each of our financial advisers, are bound by the duties set out in the Financial Markets Conduct Act 2013. This means we must:

  • Meet the standards of competence, knowledge, and skill required by the Code of Professional Conduct for Financial Advice Services
  • Give priority to your interests
  • Exercise care, diligence, and skill in providing advice
  • Not make false, misleading, or deceptive statements
  • Maintain appropriate records of our advice

Fees and Remuneration

In most cases, we do not charge you a fee for our mortgage advice services. We are paid a commission by the lender if your loan settles.

Commission structures vary by lender but typically include:

  • Upfront commission: A percentage of the loan amount, paid by the lender at settlement (typically 0.55%–0.85% of the loan amount)
  • Trail commission: An ongoing commission paid by some lenders for the life of the loan (typically 0.15%–0.20% per annum on the outstanding balance)

In some circumstances (such as complex or non-standard applications), we may charge a fee. If this applies to your situation, we will inform you and agree the fee with you in writing before proceeding.

If a loan is repaid or refinanced within 27 months of settlement, the lender may require us to repay ("clawback") all or part of the upfront commission we received. This creates no obligation for you.

Conflicts of Interest

The commission-based remuneration model means we receive different amounts depending on which lender and product you choose. To manage this conflict:

  • We always recommend the product we believe is most suitable for you, regardless of the commission rate
  • We compare options from multiple lenders before making a recommendation
  • We disclose our remuneration to you on request at any time

We do not have any ownership interests in, or arrangements with, any lender that would create a preference for one lender over another.

Your Obligations

To enable us to provide you with accurate advice, you must provide us with complete and accurate information about your financial situation, income, debts, and other relevant circumstances. Providing inaccurate or incomplete information may result in unsuitable advice or loan application failure.

Limitations on Our Advice

Our advice is based on the information you provide and the lending criteria of lenders at the time advice is given. Lending criteria, interest rates, and lender appetites can change without notice. A recommendation we make today may not be available in the future. Pre-approval and indicative assessments are not guarantees of lending.

Professional Indemnity Insurance

Indus Mortgages Limited holds professional indemnity insurance with DUAL New Zealand Limited. This cover is maintained for the protection of our clients in the unlikely event of a claim arising from our advice.

Complaints and Dispute Resolution

If you are not satisfied with our service or advice, we want to hear from you. Please contact us first so we can work to resolve your concern. Full details of our complaints process are on our Complaints page.

We are a member of Financial Services Complaints Limited (FSCL), an approved external dispute resolution scheme. FSCL's service is free of charge to consumers.