Disclosure Information

The following information provides you with an important overview of Capstone Mortgage Services Limited, our duties to you, fees and how we manage complaints.

License Status and Conditions

Capstone Mortgage Services Limited, FSP771234, trading as Capstone Mortgage Services Limited, holds a financial advice providers license issued by the Financial Markets Authority.

Nature and scope of service

We provide financial service relating to your home loan, construction and development loan. We are accredited with a wide range of banks and non-bank lenders to offer you a range of home loan products, structures and interest rates.

Please refer to the section Who we work with in the document “Welcome Handbook” for a list of the lenders that have been approved by Astute Financial Management Limited. Our company completes due diligence on each provider and only recommends them if they meet our required standards.

Fees and costs

How we are paid for our advice (Our remuneration)

Both Capstone Mortgage Services Limited FSP771234 and Astute Financial Management Limited are paid in the form of a commission by the Product Providers if you take out a mortgage is put in place following our advice.

Home loan (or mortgage) Commissions

The initial commissions are between 0.55 % and 1.5 % of the loan amount drawn down (or borrowed). The exact amount of the commission will depend upon the lender (e.g., bank) and the type of home loan (or mortgage) that you choose. We may also receive, every year, a commission (known as trail commission) between 0.15 % and 0.2 % of the home loan amount that is outstanding (or owed to the lender). The exact amount of the commissions will be disclosed in the advice document containing my recommendations.

Fees or other charges payable by you

In a majority of cases we do not charge any fee, expense or other amount for the financial advice provided to you or for implementing that advice. Our remuneration is paid by the product providers by way of commission.

Whether a fee will be charged, the manner in which it will be charged and the date by which the fee will be payable will be advised when the financial advice service is provided to the client.

conflicts of interest

we have an obligation to put clients’ interests first when making a recommendation. Should any actual or potential conflicts of interest arise during the advice process, we undertake to bring any such conflict of interest to your attention so that you may assess my advice objectively. At present, we have identified the following conflicts of interest:

Product Provider Commission:

If you accept and act on my advice, I will receive a commission. Conversely, if you do not accept and act upon my advice, I will not receive a commission.

Performance Based Remuneration:

My remuneration is based on the total amount you end up borrowing (i.e., the more you borrow, the more remuneration received by me).

To ensure that I priorities your interests above my own, I follow an advice process that ensures my recommendations are made based on your individual goals and circumstances.

I complete annual training about how to appropriately manage conflicts of interest Astute Financial Management Limited and/or the lender periodically undertake a compliance review of my advice process.

Astute Financial Management Limited also engage an independent compliance consultancy firm to conduct ongoing independent compliance reviews. Product providers may also engage independent compliance consultancy firms to conduct ongoing independent compliance reviews.

Other Incentives

From time to time, various product providers (described previously) may also reward us and/or Astute Financial Management Limited for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives.

In the event of a complaint or a dispute

If you are unhappy with our financial advice service, and wish to make a complaint, please:

  • Call us on +64 21 338 880 +64 9 3790699  between the hours of 9:30 am – 5 pm week days
  • Email us at [email protected]
  • Write to us at Postal Address: PO Box 56304, Dominion Road, Auckland 1446