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LOANSMART LIMITED DISCLOSURE STATEMENT

At Loansmart we strive to find the best Personal Loan for your situation, understanding your goals and objectives will enable us to recommend a suitable Personal Loan for you. All our advisers are trained in considering all the options available for you and your circumstances. We have been operating since 2008 and are continually striving to find the best options in the NZ lending market

LICENSE INFORMATION

Loansmart Limited (FSP #7461, trading as Loansmart) holds a Full Class 2 Financial Advice Provider Licence issued by the Financial Markets Authority to provide financial advice.

We do not provide financial advice services related to:

a. Investment products (e.g., shares, bonds, managed funds, etc.) and Kiwi Saver products.
b. Estate planning (such as Wills, Enduring Powers of Attorney, and trusts of any description).
c. Personal risk insurance (e.g.; life insurance, mortgage protection insurance, serious illness or trauma insurance, medical insurance, disability insurance, etc.,)

Our contact details are:

Loansmart Limited
33 Broadway, Newmarket, Auckland 1023
Email: enquires@loansmart.co.nz
Phone: 0800 255 155

NATURE AND SCOPE OF ENGAGEMENT

Personal Loan Broker – Loansmart provides advice to our clients about Personal Loans & Credit-related insurance. We only provide financial advice about products from certain providers.

For Personal and Vehicle loans, we work with the following lenders:

Avanti Finance Limited – 30 Daldy Street, Auckland 1010
Finance Now Limited – 51 Don Street, Invercargill 9810
Pioneer Finance Limited – 106/100 Parnell Road, Parnell, Auckland 1052
Nectar Trustee Limited – Level 1, 22 Fanshawe Street, Auckland 1010
Personal Loan Corporation Limited – 10 The Esplanade, Eastern Beach, Auckland 2012
Community Financial Services Limited – 2-4 Sultan Street, Ellerslie, Auckland 1051
Financial Holdings Limited – 17 Kalmia Street, Ellerslie, Auckland 1051
Branded Financial Services (NZ) Limited – Level 3, 30 Daldy Street, Auckland 1010
Lifestyle Money Limited – Building 6 15 Accent Drive, East Tamaki, Auckland 2013
Geneva Finance Limited – Level 3, 3 Te Kehu Way, Mt. Wellington, Auckland 1060
Oxford Finance Limited – Level 5, 70 Shortland Street, Auckland 1010

The referral partners we use when suitable are:

Rhino Solutions Limited – Level 3, 17 Albert Street, Auckland 1010
Aotea Finance – 27 East Tamaki Road, Papatoetoe, Auckland 2025
Prospa NZ – 74 Taharoto Road, Takapuna, Auckland 0622
Broadlands Finance – Level 3, 445 Karangahape Road, Auckland 1010
Loan Market NZ – 22 Kings Crescent, Lower Hutt 5010

For credit-related insurance, we work with the following companies:

Provident Insurance Corporation Limited – Floor 1, 61 Hurstmere Road, Takapuna, Auckland 0622
Financial Holdings Limited CCI – 17 Kalmia Street, Ellerslie, Auckland 1051

HOW WE OPERATE

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an internationally recognised professional advice process to ensure our recommendations are made based on the client’s goals and circumstances.

The Six-Step Process:

Getting to know you, your situation, financial goals and objectives
Gathering relevant data on your current situation
Analysing data and assessing viable solutions
Providing recommendations
Implementing recommendations
Ongoing review (where relevant staying on track)

ADVICE CONDUCT

Loansmart, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

give priority to your interests by taking all reasonable steps to make sure our advice is not materially influenced by our own interests
exercise care, diligence, and skill in providing you with advice
meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)
meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at www.fma.govt.nz.

REMUNERATION – HOW LOANSMART GETS PAID

Loansmart Fee – Loansmart may charge a fee based on the size and complexity of the loan. This fee is up to 5% of the loan amount plus $245, to a maximum of $995 for unsecured loans (GST exclusive). For secured loans, the calculation is the same, but the maximum fee is $1995 (GST exclusive).

Insurance-related products – Loansmart may receive a commission on any insurance product that is taken with the loan. The commission amount is a percentage of the insurance premium and will vary depending on the provider.

All fees & insurance premiums can be financed as part of the loan (added to the loan).

Commission – We may receive a commission from the lender when a loan is completed. The commission amount is a percentage of the loan amount and will vary depending on the lender.

Referral Commission – If we are unable to arrange a loan approval for you with one of our lenders and we believe one of our referral partners could assist you, we will refer your application to them. This will be communicated at the time. We may receive a referral commission of up to 10% of the loan amount if this referral leads to you taking a loan with them.

CANCELLATIONS

This section outlines the process for cancelling and refunding a loan.

If you wish to cancel your loan before the funds have been advanced there is no fee payable.

If you choose to cancel your loan application after the funds have been disbursed, you may do so within the cancellation period stipulated in the Loan Agreement, however, the Loansmart Fee is non-refundable. This means that if you wish to cancel after receiving the funds, you will be required to repay both the full loan advance and the Loansmart fee.

The Loansmart Fee is non-refundable because it covers the completion of all necessary steps in the loan process, including the time and resources dedicated to securing and processing your loan.

To proceed with cancellation, please contact your Loan Consultant, who will provide you with the appropriate details to facilitate repayment and cancellation.

CONFLICTS OF INTEREST

We take any perceived or real conflicts of interest very seriously and have a dedicated policy for dealing with such issues whereby we avoid, disclose and/or manage any conflicts so that our client’s interests are placed first.

All our financial advisers undergo annual training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives we receive. Loansmart monitors these registers and provides additional training where necessary. Loansmart performs an annual review of our compliance programme.

COMPLAINTS HANDLING AND DISPUTE RESOLUTION

We are always looking at ways to improve our service to our customers, if something has gone wrong, we want to know. Please send us an email at enquires@loansmart.co.nz, or call us on 0800 255 155 so we can discuss with you.

You can also write to us at:
PO Box 28231,
Remuera,
Auckland 1546

When we receive a complaint, we will:

Acknowledge your complaint within 1-2 working days.
Initiate our complaints process according to our Complaints Management Policy.
Gather and evaluate information about your complaint.
If your complaint cannot be resolved immediately, we will provide you with a copy of our Complaints Disclosure document.
Respond to you within 20 working days.

If we cannot agree on how to resolve the complaint, you can contact Financial Services Complaints Limited (FSCL). FSCL are an independent, not-for-profit, external dispute resolution scheme approved by the Minister of Consumer Affairs.

FSCL’s service does not cost you anything and they will help resolve the complaint. You can contact FSCL:

1. by calling 0800 347 257
2. by emailing complaints@fscl.org.nz
3. through FSCL’s website: www.fscl.org.nz
4. by writing to: FSCL, PO Box 5967 WELLINGTON 6011

ASK US – WE ARE HERE TO HELP

We welcome any questions or queries you have in relation to this important information but more importantly, we look forward to working with you.

A copy of this Disclosure Statement can be emailed to you upon request.

PRIVACY AUTHORISATION: FINANCE APPLICATIONS

Privacy Act 2020 – Loansmart Ltd is committed to protecting your privacy and maintaining security of the information you provide to us. We abide by the laws relating to privacy and safeguarding of information.

Privacy Act 2020 – Personal Information Notice and Declaration

I/we declare that:

I/We understand that there is no obligation to provide personal information but failure to do so may prejudice my chance of obtaining finance. I declare that the information contained in this application is true and correct.
I/We have also disclosed any other names I am known under.
I/We are aware that if we have deliberately provided false information in this application, I/we could face fraud or dishonesty charges in the courts.

Privacy Act Acknowledgement, Authorisation and How the Information Will Be Used by Loansmart Ltd

I/We authorise Loansmart Ltd and all related companies (as defined in the Companies Act 1993) to use and disclose the personal information I have provided to undertake all necessary enquiries and request, collect, check and exchange information (both now and in the future), including but not limited to personal, commercial and financial information about me and references, from:
- - Any Credit Reporting Agency credit provider
  - The NZTA (NZ Transport Agency),
  - Ministry of Justice,
  - My employer(s),
  - Accountant,
  - Or any other source
I/We understand and authorise Loansmart Ltd to assess my creditworthiness, providing credit to me, administering and enforcing this Agreement, offering me insurance, maintaining credit records with Loansmart, a related company and external agencies, marketing goods and services provided by Loansmart, a related company or any other supplier nominated by us.
I/We also authorise Loansmart to disclose information about any loan arising out of this application to any potential assignee of this loan, guarantor or to any person providing services in connection with refinancing this loan, or to any person or organisation I have authorised to obtain information, at any time in the future.
I/We acknowledge and agree that in order to facilitate a Credit Reporting Agency’s credit reporting services Loansmart will disclose to such agency information about me for that purpose, including any updates of such information. The Credit Reporting Agency will hold that information on their systems for that purpose. Loansmart will also collect and disclose my positive credit information including repayment history to credit reporters. If I default in my payment obligations to Loansmart, I understand that the information about that default may be given to any Credit Reporting Agency and they may give that information about my default to other Credit Reporting Agency customers.
I/We understand that Loansmart will meet its obligations to me under the Privacy Act 2020
I/We understand that such information will be held by Loansmart at their business address and by other parties for the purposes described above.
I/We understand that I have the right to access and correct personal information held about me in accordance with the Privacy Act 2020
I/We I confirm that I do not have any outstanding traffic, parking or other fines, do not have a criminal record and am not a undischarged bankrupt

If you apply for finance through us, we will share the personal information you give to us with one or more potential lenders. If we do so, those lenders, in accordance with their privacy policy, may use your information in order to:

process your application for finance;
assess your creditworthiness;
verify your identity in accordance with anti-money laundering legislation;
comply with any other legal obligations; and
if your application is successful, provide you with an offer of finance.

In order to do those things, those lenders may disclose your personal information to, and collect personal information about you from, certain third parties, including:

credit reporting agencies (credit reporters), from whom you authorise the lenders to collect information about your identity, current credit obligations and credit history;
identity verification agencies;
the New Zealand Transport Agency’s ‘Driver Check’ service;
the Ministry of Justice, in order to obtain fines information;
government agencies and regulators, or anyone else with whom a lender is required to share that information for the purposes of complying with all applicable laws; and
any third-party service provider, including professional advisors and public registers.

If a lender discloses the fact that you have applied for finance to a credit reporter, you agree that the credit reporter may keep that information and disclose it to its customers (which may include disclosing it to other lenders from whom you apply for finance in the future). You can ask credit reporters for a copy of any credit information they hold about you and to update it, if necessary. More information is available at https://www.privacy.org.nz/privacy-act-2020/codes-of-practice/crpc2020/.

Further I authorize Loansmart Ltd to use my personal information for merchandising, market research and offering additional services including newsletters from Loansmart Ltd or the offer of additional credit facilities.

Personal Property Securities Act 1999

I/We waive my right to receive Verification Statements or Financing Change Statements under the PPSA. I acknowledge that I am able to request such statements by contacting Loansmart in writing.

Electronic Communication:

I/We agree that Loansmart may use electronic communication (including email and SMS/text message) for the purpose of making disclosure to me pursuant to the Credit Contracts and Consumer Finance Act 2003, providing me with notices and/or changes to Loansmart Terms and Conditions and/or any other reason such as marketing of services and products.

Website Privacy Statement and Terms of Use

The internet is used on a day to day basis and it’s important to us to assist our customers to retain their privacy when using our website. We are committed to protecting your privacy by complying with the Privacy Act 2020.

Sharing Your Information

Generally, we will only disclose your personal information with your consent or if required or as permitted by New Zealand law.

Links to other Websites

Our site may contain a number of links to third party websites and online resources that are not owned or controlled by Loansmart. If we have provided links to any third party site for your assistance, this does not imply that we share or endorse the opinions expressed or material appearing on such websites. We therefore do not assume responsibility for the content or practices of any of these third parties. We strongly advise that you read the privacy statements of the sites you visit as a result of following a link posted on our site.

I/We acknowledge that I/We have read/accepted the above Privacy Declaration & Authorisation

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