Disclosures
Luminate is the shared brand under which Luminate Financial Group Limited, The Mortgage Boutique Limited and Luminate Finance Limited operate. While the three companies work together and may refer clients between them, each is a separate legal entity with its own responsibilities, registrations and services. Different disclosures apply to each company, and these are set out below. The company responsible for the service you receive will also be identified in the relevant disclosure, agreement or offer document.
Luminate Financial Group Limited Disclosures
About us
Luminate Financial Group Limited, FSP765531, trading as Luminate, is a licensed Financial Advice Provider holding a Class 2 financial advice provider licence issued by the Financial Markets Authority.
This information is provided to help you decide whether you want to seek financial advice from us.
Nature and scope of our advice
We provide financial advice about:
- Consumer credit contracts including home loans and residential mortgages
- Commercial and business lending
- Property and specialist finance
The specific types of products and product providers an adviser can advise you on will be explained in the adviser’s Disclosure Guide or other disclosure information provided during the advice process.
We may also refer clients to related companies or third-party providers where appropriate. We will explain the nature of any referral and any relevant relationship or conflict of interest.
Fees and expenses
Generally, we do not charge you a fee for our advice or for arranging a loan. This is because we usually receive commission from the lender or product provider when your loan settles.
There are some circumstances where we may charge you a fee.
When a fee may be charged by us
Where no commission is received
We may charge a fee where you ask us to provide advice or services relating to a product or provider from which we will not receive commission.
This may include a product offered by a provider with whom we do not hold accreditation, or a product outside our usual lender arrangements.
Any fee will be discussed with you and agreed in writing before we complete the work. It will generally be based on the time required to provide the advice or service.
Repayment of commission or clawback
A lender may require us to repay some or all of the commission we received if your loan is repaid, refinanced, restructured or otherwise changed within 28 months of settlement.
Where this occurs, we may charge you a fee of up to $3,000 plus GST, if applicable. The fee will be calculated at $250 plus GST, if applicable, for each hour of adviser time spent providing services in connection with the loan.
The fee will not exceed the amount of commission we are required to repay to the lender.
Where a fee applies, we will issue you an invoice and payment will be due within 30 days.
Lender or adviser fees
Some lenders charge an adviser, brokerage, establishment or application fee. The fee may be added to your loan, deducted from the amount advanced or payable separately.
It may be calculated as a percentage of the loan or as a fixed amount.
Where a lender or adviser fee applies, we will explain the amount, how it is calculated and how it will be paid before you proceed.
Commissions and other incentives
When a home loan, business loan or other lending product settles, we will usually receive commission from the applicable lender or product provider. The amount of the commission is generally based on the amount of the lending.
This may include:
- An upfront commission
- An ongoing or trail commission
- A fixed-rate rollover or refix payment
- Other service-related payments
Commission helps pay the adviser who provides your advice and contributes towards the costs of operating our business, including staff, premises, technology, compliance and administration.
The amount and type of commission available from each product provider will be explained in your adviser’s Disclosure Guide or other disclosure information provided during the advice process.
Our advisers may occasionally receive non-cash benefits from lenders, product providers or referral partners, such as meals, gifts, training, conference attendance or event tickets.
Managing conflicts of interest for commissions or incentives
We take reasonable steps to ensure commissions, incentives and business relationships do not improperly influence the advice we give.
We manage conflicts of interest by:
- Requiring advisers to understand your circumstances, needs and goals before making a recommendation
- Requiring recommendations to be suitable for your needs and objectives
- Requiring advisers to give priority to your interests
- Providing training on identifying and managing conflicts of interest
- Disclosing commissions and relevant conflicts during the advice process
- Having advice files independently reviewed as part of our compliance programme
- Engaging an external compliance provider to undertake ongoing checks
Any material conflict of interest relevant to your advice will be disclosed to you.
Conflict of interest with Luminate Finance Limited
Luminate Finance Limited is a related entity of Luminate Finance Group Limited (with the same ownership and directorship). Luminate Finance Limited operates as a separate legal entity and provides short-term, bridging and specialist lending solutions.
If a client of Luminate Finance Group Limited is recommend to, referred to, or provided funding by, Luminate Finance Limited there may be a potential, perceived or actual conflict of interest,
We manage this specific type of conflict of interest by:
- Prioritising client’s interests first at all times;
- Identifying conflicts early and ensuring the matter is managed under the LFG Conflicts of Interest Policy;
- Providing clear disclosure to clients; and
- Presenting alternative options (if reasonably available).
Any material conflict of interest relevant to your advice will be disclosed to you.
Complaints
If you have a complaint about our financial advice or the service we have provided, please contact us:
Phone: 09 281 5542
Email: hello@luminate.co.nz
Email subject: Complaint – [Your name]
Please explain the nature of your complaint and the outcome you are seeking.
We aim to acknowledge your complaint within 24 hours. We will record it in our Complaints Register and may contact you to obtain further information or arrange a meeting.
We aim to provide you with a response within seven working days. Where additional time is required, we will let you know.
External dispute resolution
If we cannot resolve your complaint, you can contact our independent external dispute resolution service. This service is free for you to use.
Financial Services Complaints Limited
PO Box 5967
Wellington 6140
Freephone: 0800 347 257
Phone: 04 472 3725
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Our duties
When providing regulated financial advice, we and our financial advisers are required to:
- Meet the standards of competence, knowledge and skill set out in the Code of Professional Conduct for Financial Advice Services (the Code)
- Meet the standards of ethical behaviour, conduct and client care set out in the Code
- Give priority to your interests
- Exercise care, diligence and skill
- Meet the conduct obligations applying under the Financial Markets Conduct Act 2013.
The Mortgage Boutique Limited Disclosures
About us
The Mortgage Boutique Limited, FSP1010313, trading as Luminate, is authorised to provide a financial advice service under the financial advice provider licence held by Luminate Financial Group Limited, FSP765531, issued by the Financial Markets Authority.
The Mortgage Boutique Limited is an authorised body under that licence. It does not hold a separate financial advice provider licence in its own name.
This information is provided to help you decide whether you want to seek financial advice from us.
Nature and scope of our advice
Our financial advisers provide advice on behalf of The Mortgage Boutique Limited under the financial advice provider licence held by Luminate Financial Group Limited.
We provide financial advice about:
- Consumer credit contracts including home loans and residential mortgages
- Commercial and business lending
- Property and specialist finance
The specific types of products and product providers an adviser can advise you on will be explained in the adviser’s Disclosure Guide or other disclosure information provided during the advice process.
We may also refer clients to Luminate Financial Group Limited, Luminate Finance Limited or third-party providers where appropriate. We will disclose any relevant relationship or conflict of interest.
Fees and expenses
Generally, we do not charge you a fee for our advice or for arranging a loan. This is because we or Luminate Financial Group Limited usually receive commission from the lender or product provider when your loan settles.
There are some circumstances where we may charge you a fee.
When a fee may be charged by us
Where no commission is received
We may charge a fee where you ask us to provide advice or services relating to a product or provider from which no commission will be received.
This may include a product offered by a provider with whom we do not hold accreditation, or a product outside our usual lender arrangements.
Any fee will be discussed with you and agreed in writing before we complete the work. It will generally be based on the time required to provide the advice or service.
Repayment of commission or clawback
A lender may require commission to be repaid if your loan is repaid, refinanced, restructured or otherwise changed within 28 months of settlement.
Where this occurs, we may charge you a fee of up to $3,000 plus GST, if applicable. The fee will be calculated at $250 plus GST, if applicable, for each hour of adviser time spent providing services in connection with the loan.
The fee will not exceed the amount of commission required to be repaid to the lender.
Where a fee applies, we will issue you an invoice and payment will be due within 30 days.
Lender or adviser fees
Some lenders charge an adviser, brokerage, establishment or application fee. The fee may be added to your loan, deducted from the amount advanced or payable separately.
It may be calculated as a percentage of the loan or as a fixed amount.
Where a lender or adviser fee applies, we will explain the amount, how it is calculated and how it will be paid before you proceed.
Commissions and other incentives
When a home loan, business loan or other lending product settles, The Mortgage Boutique Limited, Luminate Financial Group Limited or the adviser may receive commission from the applicable lender or product provider. The amount of the commission is generally based on the amount of the lending.
This may include:
- An upfront commission
- An ongoing or trail commission
- A fixed-rate rollover or refix payment
- Other service-related payments
Commission helps pay the adviser who provides your advice and contributes towards the costs of operating the advice service.
The amount and type of commission available from each product provider will be explained in your adviser’s Disclosure Guide or other disclosure information provided during the advice process.
Our advisers may occasionally receive non-cash benefits from lenders, product providers or referral partners, such as meals, gifts, training, conference attendance or event tickets.
Managing conflicts of interest for commissions and incentives
The Mortgage Boutique Limited and Luminate Financial Group Limited take reasonable steps to ensure commissions, incentives and business relationships do not improperly influence the advice provided to you.
Conflicts are managed by:
- Requiring advisers to understand your circumstances, needs and goals
- Requiring recommendations to be suitable for your needs and objectives
- Requiring advisers to give priority to your interests
- Providing training on identifying and managing conflicts
- Disclosing commissions and relevant conflicts during the advice process
- Having advice files reviewed as part of the compliance programme applying under the FAP licence
- Using external compliance support and monitoring
Any material conflict of interest relevant to your advice will be disclosed to you.
Conflict of interest with Luminate Finance Limited
Luminate Finance Limited is a related entity of Luminate Finance Group Limited (with the same ownership and directorship). Luminate Finance Limited operates as a separate legal entity and provides short-term, bridging and specialist lending solutions.
If a client of Luminate Finance Group Limited is recommend to, referred to, or provided funding by, Luminate Finance Limited there may be a potential, perceived or actual conflict of interest,
We manage this specific type of conflict of interest by:
- Prioritising client’s interests first at all times;
- Identifying conflicts early and ensuring the matter is managed under the LFG Conflicts of Interest Policy;
- Providing clear disclosure to clients; and
- Presenting alternative options (if reasonably available).
Any material conflict of interest relevant to your advice will be disclosed to you.
Complaints
If you have a complaint about financial advice provided by The Mortgage Boutique Limited or one of its advisers, please contact us:
Phone: 09 281 5542
Email: hello@luminate.co.nz
Email subject: Complaint – [Your name]
Please explain the nature of your complaint and the outcome you are seeking.
We aim to acknowledge your complaint within 24 hours. We will record it in our Complaints Register and may contact you for more information or arrange a meeting.
We aim to provide a response within seven working days. Where additional time is required, we will let you know.
External dispute resolution
If we cannot resolve your complaint using our internal complaints process to your satisfaction, you can contact our independent external dispute resolution service. This service may help investigate or resolve the complaint and is free for you to use.
Financial Services Complaints Limited
PO Box 5967
Wellington 6140
Freephone: 0800 347 257
Phone: 04 472 3725
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Our duties
When providing regulated financial advice, The Mortgage Boutique Limited and its advisers must comply with the obligations applying under the financial advice provider licence held by Luminate Financial Group Limited.
These duties include:
- Meeting the standards of competence, knowledge and skill set out in the Code of Professional Conduct for Financial Advice Services (the Code)
- Meeting the standards of ethical behaviour, conduct and client care set out in the Code
- Giving priority to your interests
- Exercising care, diligence and skill
- Complying with the relevant conduct obligations under the Financial Markets Conduct Act 2013
Luminate Finance Limited Disclosures
About us
Luminate Finance Limited, FSP449126, trading as Luminate, is registered on the Financial Service Providers Register to provide consumer credit contracts and non-consumer credit contracts.
Luminate Finance Limited is a lender and may also offer property-backed investment opportunities to eligible wholesale investors.
Luminate Finance Limited is not a licensed Financial Advice Provider and does not provide regulated financial advice.
Lending services
Luminate Finance Limited may provide:
- Business and commercial loans
- Property and development finance
- Bridging finance
- Second mortgages
- Working capital
- Tax funding
- Project completion finance
- Other consumer or non-consumer credit products
All lending is subject to credit assessment, lending criteria, acceptable security, terms, conditions, fees and approval.
Where the Credit Contracts and Consumer Finance Act 2003 applies, we will comply with the applicable lender responsibility principles and other legal obligations.
Approval is not guaranteed and the amount you may be able to borrow will depend on your circumstances and the applicable lending criteria.
Information, not financial advice
- Information provided by Luminate Finance Limited about its own lending or investment products is general product information and is not regulated financial advice.
- Luminate Finance Limited does not compare its products with the wider market or advise you whether its products are suitable compared with products available from other providers.
- Luminate Finance Limited does not make recommendations or give opinions about acquiring or disposing of (or not acquiring or disposing of) financial advice products, including debt securities.
- You should consider obtaining independent financial, legal, accounting and tax advice before entering into a loan or making an investment.
- Where you require regulated financial advice, you may be referred to Luminate Financial Group Limited, The Mortgage Boutique Limited or another licensed Financial Advice Provider.
- Any referral relationship or relevant conflict of interest will be disclosed where required.
Standard form consumer contract terms
Our standard form consumer credit contract terms are available on this website in accordance with the Credit Contracts and Consumer Finance Act 2013. Please review these terms here:
If we update our standard terms, the current version on our website will apply to new contracts entered into after the effective date shown in the document.
Lending fees and costs
Fees may apply to lending provided by Luminate Finance Limited. These may include:
- Establishment or application fees
- Legal fees
- Valuation fees
- Brokerage or adviser fees
- Administration fees
- Variation fees
- Default fees
- Early repayment fees
- Other third-party or transaction costs
Fees may be payable upfront, deducted from the loan advance or added to the loan balance.
The applicable interest rate, fees, costs and repayment requirements will be set out in the relevant loan documents before you enter into the loan.
Information about the costs of borrowing (including interest rates and fees) are published on this website in accordance with the Credit Contracts and Consumer Finance Act 2013 and can be found below:
Fees and interest rates are variable and the actual fees and interest rates will depend upon your circumstances and will be stated in the relevant loan documents.
Referrals and commissions
Luminate Finance Limited may receive loan applications or referrals from Luminate Financial Group Limited, The Mortgage Boutique Limited, financial advisers, mortgage advisers, brokers or other referral partners.
Luminate Finance Limited may pay fees, commissions or other remuneration to a person or business that refers a borrower or assists with arranging a loan.
Where required, information about relevant commissions, fees, relationships or conflicts of interest will be disclosed to you by the person providing the advice or referral.
Luminate Finance Limited may also refer clients to related companies or external providers.
Wholesale investment opportunities
Investment opportunities offered by Luminate Finance Limited are available only to people who qualify as wholesale investors under the Financial Markets Conduct Act 2013 and who meet any additional eligibility criteria applying to the particular offer.
These investment opportunities are not regulated retail offers and are not available to retail investors. All offers are made in reliance on the wholesale investor exclusion set out in schedule 1 of the Financial Markets Conduct Act 2013 and no product disclosure statement is available for retail investors.
Before accepting an investment, we may require evidence or a certificate confirming that you meet the applicable wholesale investor criteria.
Investment returns are not guaranteed. Past performance is not a reliable indicator of future performance.
Each investment is subject to its own risks, terms, conditions, fees, security arrangements and repayment structure. Investors should carefully review the applicable offer documents and obtain independent financial, legal, accounting and tax advice before investing.
Complaints
If you have a complaint about a loan, investment or service provided by Luminate Finance Limited, please contact us:
Phone: 09 281 5542
Email: hello@luminate.co.nz
Email subject: Complaint – [Your name]
Please explain the nature of your complaint and the outcome you are seeking.
We aim to acknowledge your complaint within 24 hours. We will record it in our Complaints Register and may contact you for further information or arrange a meeting.
We aim to provide a response within seven working days. Where additional time is required, we will let you know.
External dispute resolution
If we cannot resolve your complaint, you may be able to contact our independent external dispute resolution service. This service is free for eligible complainants.
Financial Services Complaints Limited
PO Box 5967
Wellington 6140
Freephone: 0800 347 257
Phone: 04 472 3725
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
The dispute resolution service will confirm whether your complaint falls within its jurisdiction.
General information
Rates, terms, fees, lending criteria and investment opportunities may change without notice.
Website content, calculators and examples are provided for general information only. They do not constitute an offer, advice, approval, opinion, recommendation, forecast or guarantee of any particular outcome.
Any images used on our website or in promotional material is indicative only.