Disclosure Statement

This page sets out the legal stuff you need to know when dealing with Squirrel and our team.

NZMBA

All Squirrel Advisors are full members of the NZMBA and our business complies with the Association’s Membership Rules and Code of Ethics and Standards. A copy of the Rules is available from www.nzmba.co.nz. The NZMBA is a self-regulatory body dedicated to ensuring high ethical standards and professionalism within its members for the protection of lenders and clients.

The NZMBA has a formal complaints process for the protection of clients. Complaints must be made in writing to; NZMBA, Private Bag 303-353, North Harbour, Auckland www.nzmba.co.nz

professional indemnity insurance

We have $2 million of PI cover (maximum cover of $1 million per claim). In proven cases, this protects my clients from financial loss due to fraud, gross negligence, gross misrepresentation, etc, (if perpetrated by me). This policy is held with Vero.

how we’re paid

Squirrel is paid a single upfront commission (percentage of the loan facility or insurance premium), an ongoing (trail) commission (percentage of the loan facility or insurance premium), or a mix of both. Squirrel may charge a one off fee for work completed for clients which does not attract a broker payment from the lender. This charge, if applied, will be agreed in advance with you before any work is started.

privacy

All discussions and information shared with Squirrel are subject to the Privacy Act 1993. You are entitled to access any information from your file upon request. A detailed description of the authorised use of the information you supply is covered in the Authority & Declaration you sign with each application you make with us.

legal and accounting issues

Any discussions on legal and accounting issues does not replace advice from professionally qualified specialist advisers (solicitors and accountants). We recommend that you obtain such independent and specialist advice.

disclosure

In the preceding five (5) years, nobody employed by Squirrel has been:

  1. The subject of a successful claim (for dishonesty, negligence or misrepresentation) under any Professional Indemnity Insurance Policy held by more or on behalf of me.
  2. Convicted of an offence of dishonesty or any relevant offence under any Act or law applicable in New Zealand, nor been a director of a company so convicted.
  3. Adjudicated bankrupt, nor are an undischarged bankrupt, nor have had a bankruptcy discharged.
  4. Prohibited by law from taking part in the management of a company.

Nor are there any proceedings currently being taken against me, (or any company of which I am a director) under any of the above (a – d) or with respect to my accredited membership of the New Zealand Mortgage Brokers’ Association.