Privacy Policy

 

Who we are

Lending Choice Limited (we, us, our) complies with the New Zealand Privacy Act 1993 (the Act) when dealing with personal information.

This policy sets out how we will collect, use, disclose and protect your personal information.

This policy does not limit or exclude any of your rights under the Act.  If you wish to seek further information on the Act, see: www.privacy.org.nz

Changes to this policy

We may change this policy by uploading a revised policy onto the website.  The change will apply from the date that we upload the revised policy.

Who do we collect your personal information from

We collect personal information about you from:

  • you, when you provide that personal information to us, including via the website and any related service, through any registration or subscription process, through any contact with us (e.g. telephone call or email), or when you buy or use our services and products
  • third parties where you have authorised this or the information is publicly available.

If possible, we will collect personal information from you directly.

How we use your personal information

We will use your personal information:  to improve the services and products that we provide to you

  • to review your personal circumstances for the purpose of giving financial advice
  • to respond to communications from you, including a complaint
  • to conduct research and statistical analysis (on an anonymised basis)
  • to protect and/or enforce our legal rights and interests, including defending any claim
  • for any other purpose authorised by you or the Act.

Disclosing your personal information

We may disclose your personal information to:

  • another company within our group
  • any business that supports our services and products, including any person that hosts or maintains any underlying IT system or data centre that we use to provide the website or other services and products
  • a credit reference agency for the purpose of credit checking you, if you give us permission
  • a person who can require us to supply your personal information (e.g. a regulatory authority)
  • any other person authorised by the Act or another law (e.g. a law enforcement agency)
  • any other person authorised by you.

A business that supports our services and products may be located outside New Zealand.  This may mean your personal information is held and processed outside New Zealand.

Protecting your personal information

We will take reasonable steps to keep your personal information safe from loss, unauthorised activity, or other misuse.

Accessing and correcting your personal information

Subject to certain grounds for refusal set out in the Act, you have the right to access your readily retrievable personal information that we hold and to request a correction to your personal information.  Before you exercise this right, we will need evidence to confirm that you are the individual to whom the personal information relates.

In respect of a request for correction, if we think the correction is reasonable and we are reasonably able to change the personal information, we will make the correction.  If we do not make the correction, we will take reasonable steps to note on the personal information that you requested the correction.

If you want to exercise either of the above rights, email us at [insert email address].  Your email should provide evidence of who you are and set out the details of your request (e.g. the personal information, or the correction, that you are requesting).

We may charge you our reasonable costs of providing to you copies of your personal information or correcting that information.

Internet use

While we take reasonable steps to maintain secure internet connections, if you provide us with personal information over the internet, the provision of that information is at your own risk.

If you post your personal information on the website’s, you acknowledge and agree that the information you post is publicly available.

If you follow a link on our website to another site, the owner of that site will have its own privacy policy relating to your personal information.  We suggest you review that site’s privacy policy before you provide personal information.

We use cookies (an alphanumeric identifier that we transfer to your computer’s hard drive so that we can recognise your browser) to monitor your use of the website.  You may disable cookies by changing the settings on your browser, although this may mean that you cannot use all of the features of the website.

What rights you have over your data

If you have an account on this site, or have left comments, you can request to receive an exported file of the personal data we hold about you, including any data you have provided to us. You can also request that we erase any personal data we hold about you. This does not include any data we are obliged to keep for administrative, legal, or security purposes.

 

Making a complaint

 

If your Adviser is unable to resolve your complaint or you do not want to contact them directly, please contact our director by email at adam@lendingchoice.co.nz with details of your complaint.

We will investigate your complaint and make every effort to resolve it as soon as possible.

If we cannot agree on how to resolve the issue – you can contact Financial Services Complaints Limited, (FSCL):

 

You can contact Financial Services Complaints Ltd

Email: info@fscl.org.nz
Phone: 0800 347257
Fax: 04 472 3728
Postal Address: PO Box 5967, Lambton Quay, Wellington 6011

 

This service will cost you nothing and will help us resolve any disagreements:

Fair Trading & FMC Act Duties

 

 

Lending Choice and anyone who gives financial advice on our behalf, have legal duties relating to the way that we give advice.

We must:

  • give priority to our clients’ interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
  • exercise care, diligence, and skill in providing the 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); and
  • 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 that 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 https://www.fma.govt.nz/.
  • Conflicts of Interest, Commissions and Incentives

    Our financial advisers are remunerated by way of receiving a commission from the sale of a financial product.

    Lending Choice Limited may receive commissions from the lenders with whom we arrange mortgages. These commissions are based on the amount of the mortgage.

    It’s important to understand a commission payment represents a top-line revenue payment to the business. Like any business, Lending Choice has significant costs and these numbers do not reflect the actual amount an adviser may earn.

    To ensure that Lending Choice’s financial advisers prioritise each client’s interests above their own, they follow an advice process that is designed to ensure their recommendations are made on the basis of the client’s circumstances and financial goals and are suitable for the client. Lending Choice also:

    has a quality assurance programme in place to monitor the advice our financial advisers provide;

    actively monitors compliance with our conflicts policies and procedures; and

    ensures training is provided to all Lending Choice’s financial advisers about how to manage conflicts of interest.