FSP will place your mortgage with the lender we think will best cater for your needs or with your preference while looking for the best rates, products and/or service for you.
With over 40 residential lenders offering finance there is no shortage of choice.
We are happy to deal with whichever lender you prefer even if it is one that has stated it will not deal with brokers, and a few others like Kiwibank or TSB who will not pay us for the introduction of your business either. Note: We will likely look to you to reward our efforts though.
However in most cases the lender, lucky enough to win your business, will pay us a commission on draw down (settlement) of your loan. Some lenders will also pay us a retainer (trail) to ensure we are available for you at any time. Regardless of which lender you are with we are happy to provide ongoing advice around your lending, and to arrange to refix interest rates as required.
We have clients who have lending with Kiwibank and TSB for which the lenders did not pay us and we did not seek to charge our clients (but we do retain the right to discuss a fee for new borrowing.)
We provide residential mortgage broking free to you in most cases, whoever you wish to choose.
We usually charge a preparation fee of $500 and a maximum fee of 1.5% of the total finance/loans drawn down (which may include residential lending as part of the lending package arranged). FSP will credit the upfront $500 and any funds received by the lender from the fee payable should the loan be drawn down. Should your actions result in the lender's commission to FSP being clawed back, FSP reserves the right to charge for its time @$200 per hour.
We live by our slogan “Our aim, your gain”
We seek to add value to you."