| Name | Deal Busters Limited |
| Trading Name | REFIX® |
| Phone | 0212330244 |
| bhavin@refix.co.nz | |
| Physical Address | 327 Te Rapa Road Hamilton 3210 |
| Postal Address | 327 Te Rapa Road Hamilton 3210 |
| FSP Number | FSP777851 |
Deal Busters Limited (trading as REFIX®), FSP777851, holds a full Financial Advice Provider (FAP) licence issued by the Financial Markets Authority under the Financial Markets Conduct Act 2013. This is a full licence, not a transitional licence.
There are no conditions on our licence that limit or restrict the financial advice we are able to give.
Deal Busters Limited (trading as REFIX®) is a member of NZ Financial Services Group Limited.
Bhavin Desai
Financial Adviser
021 233 0244 | bhavin@refix.co.nz
327 Te Rapa Road, Beerescourt, Hamilton, 3200, New Zealand
FSPR Number: 276485
REFIX® advisers provide advice about:
Market Uncertainty Disclaimer: REFIX® provides financial advice based on current market conditions, lender policies, and publicly available information. However, in line with the Financial Markets Authority (FMA) guidelines, we do not and cannot predict future interest rates, economic trends, or lending policy changes. Any discussions about future market conditions are general in nature and should not be interpreted as financial forecasting or guarantees.
You will need to consult appropriate specialists if you would like advice on a, b, c, d, e or f above.
If you choose to, we may be able to help you with other services through my referral partners set out below:
Any financial advice provided on our behalf will only take account of the information you have given us about your needs, financial situation or goals
We also work with a number of smaller specialist providers in many of the above areas. Where they are relevant to a client's needs, we will advise the client at the time.
Our role is to provide you with an overview of the products available to you, as well as make information available to you so as to the loan structure(s) you may consider.
You, the client(s) will need to provide all facts, data and other information (written and verbal) relevant to the financial service you require the adviser to perform on your behalf, when requested by the adviser. You will ensure that all information provided is complete and accurate to the best of your knowledge.
We will complete the following work on behalf of the lending provider:
Disciplinary history you should be aware of: None. Nada. Zero. Zip. Zilch. There have been no professional indemnity insurance or negligence claims, disputes resolution actions, or disciplinary actions. Ever.
Should you proceed with a loan implementation after advice from your REFIX® adviser, and then repay or refinance your loan within 28 months of your loan being advanced, without giving your REFIX® adviser the opportunity to assist you with a refinance, REFIX® may charge you a fee of $250 per hour for the time spent to get the initial loan approved and implemented. The maximum fee will be $3,750 (15 hours) for each loan advanced. In some instances, advisers may charge a higher fee depending on the level of service provided. Your Adviser will agree with you any applicable fees.
For mortgages and lending, REFIX® and the financial adviser receive commissions from some of the lenders we can provide recommendations for. If you proceed to implement lending with the lender recommended to you, the lender will pay a commission to your financial adviser. The amount of the commission is based on the amount of the lending; specific remuneration will be advised to you when advice is provided.
| Commissions, Fees & Charges | ||||
| Banks | Upfront Commission | Trail Commission | Refix | Commission Clawbacks |
| ANZ | 0.85% | No | $150 | 28 Months |
| ASB | 0.85% | No | $150 | 28 Months |
| Bank of China | 0.88% | No | $150 | 24 Months |
| BNZ | 0.55% | 0.15% | No | 28 Months |
| Co-Operative Bank | 0.70% | No | $150 | 18 Months |
| SBS Bank | 0.80% | No | $150 | 18 Months |
| Westpac | 0.60% | 0.20% * | No | 26 Months |
| Fees: | Deferred Adviser Fee Applies: A deferred adviser fee can be charged should the loan be refinanced or repaid within 28-months. | |||
| Adviser Fee Applies: An adviser fee of 2% is charged with loans and loan top-ups of $200,000 or less. | ||||
| Non Bank | Upfront Commission | Trail Commission | Fees | Commission Clawbacks* |
| Avanti | 0.80% | No | $2,400 - $10,000 | 12 Months* |
| Basecorp Finance | No | No | $2,400 - $10,000 | No |
| Bluestone Mortgages | 0.60% | 0.15% | $2,400 - $10,000 | 24 Months* |
| First Credit Union | No | No | $2,400 - $10,000 | No |
| First Mortgage Trust | No | No | $2,400 - $10,000 | No |
| Liberty Financial | 0.60% | 0.15% | $2,400 - $10,000 | 24 Months* |
| 0.70% | 0.30% | $2,400 - $10,000 | ||
| UNITY | 0.40% | No | $2,400 - $10,000 | No Clawback |
| Pepper Money | 0.60% | 0.15% | $2,400 - $10,000 | 18 Months |
| 0.75% | 0.15% | $2,400 - $10,000 | 12 Months | |
| Resimac Home Loans | 0.60% | 0.15% | $2,400 - $10,000 | 12 Months |
| 0.80% | 0.20% | $2,400 - $10,000 | 18 Months | |
| Sovereign Home Loans | 0.60% | 0.20% | No | 25 Months |
| Fees: | Adviser Fee Applies: An adviser fee will be charged with all non-bank lending. We do not charge Clawbacks or deferred adviser fees on Non-bank Mortgages. | |||
| Personal Loans | Commission Rate | Trail Commission | Fees | |
| Co-Operative Bank | 3.00% | No | $300 - $1500 | |
| Unity | 3.50% | No | $300 - $2500 | |
| Fees: | Adviser Fee Applies: An adviser fee will be charged with all personal loans. | |||
| Business Finance | Commission Rate | Trail Commission | Fees | |
| Oxford Finance | 4% to 6% | 0 | $350 | |
| Prospa | 4% | 0 | 0 | |
| Fees | Adviser Fee Applies: An adviser fee of 4% will be charged with all business finance. | |||
From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.
To ensure that our financial advisers prioritise the client's interests above their own We manage the conflicts of interest arising from these commission payments by:
Interest rates discussed or provided by REFIX® may be indicative, conditional, time-limited and subject to final confirmation by the lender.
Where you borrow more than 80% of the value of the property or properties securing your lending, the lender may apply a Low Equity Margin, low equity premium or another pricing adjustment.
A Low Equity Margin is an additional interest margin that is added to the lender's base or advertised interest rate. The amount of the margin may vary depending on:
The loan-to-value ratio, commonly referred to as the LVR, is generally calculated by dividing the total lending secured by the relevant property or properties by the value accepted by the lender.
The LVR calculation may include all existing and proposed lending secured by the property and not only the individual loan, top-up, refix or restructure being considered.
Unless REFIX® or the lender expressly confirms in writing that a quoted interest rate includes any applicable Low Equity Margin, the quoted rate may be subject to an additional margin.
When providing interest-rate information, REFIX® will seek to record the rate using one of the following descriptions:
The final interest rate, including any Low Equity Margin, fees, premiums or pricing adjustments, is determined by the lender and should be confirmed in the lender's formal documents or written implementation confirmation.
REFIX® provides financial advice and assists clients to apply for, refix, restructure, top up or vary their lending. REFIX® is not the lender and does not control the lender's:
An application, pricing request, adviser declaration, recommendation or instruction submitted to a lender does not, by itself, mean that the requested lending change has been completed.
A lender status such as submitted, accepted, approved, documents generated or documents printed may indicate progress only. It does not necessarily confirm that the interest rate, refix, restructure or variation has been implemented.
A lending change will generally become effective only when:
REFIX® will seek written confirmation from the lender that the transaction has been implemented. However, clients should also check their loan accounts, statements and lender correspondence to confirm that the expected changes have taken effect.
Clients should promptly review all lender documents, rate confirmations and loan statements. Before signing or accepting lender documents, clients should check that the following details match their instructions and understanding:
Clients must promptly notify REFIX® where a lender document, confirmation or loan statement differs from the advice provided, the agreed instructions or the client's understanding.
REFIX® will also undertake a reasonable review of lender documents against the recorded client instructions. The client's responsibility to review documents does not remove or limit the duties REFIX® and its financial advisers have under New Zealand law.
Lender pricing offers, fixed rates, loan documents, approvals and concessions may be available for a limited period and may expire or change without notice.
Clients are responsible for:
Where a matter is time sensitive and REFIX® has not received an acknowledgement, REFIX® may attempt to contact the client using another available communication method. REFIX® cannot guarantee that email, text messages or documents sent by a lender or another third party will be received, delivered or identified by the intended recipient.
Nothing in these disclosures excludes, restricts or limits any duty or obligation that cannot lawfully be excluded under the Financial Markets Conduct Act 2013, the Code of Professional Conduct for Financial Advice Services or any other applicable New Zealand law.
We intend for all our clients to have an enjoyable and productive experience with us.
If there is something you are not satisfied about when dealing with your Financial Advisor and REFIX®
In the 1st instance, please communicate this to your Financial Advisor so that they can help resolve
this if possible.
If you are not satisfied with that outcome, you can make a complaint by emailing
bhavin@refix.co.nz, or by calling us on 0212330244.
You can also write to us at:
REFIX®, Attn: Bhavin Desai, 327 Te Rapa Road Hamilton 3210
When we receive a complaint, we will follow our internal complaints process:
If we cannot resolve your complaint, or you are not satisfied with the way we propose to do so, you
can contact our external dispute resolutions scheme Financial Services Complaints Limited (FSCL).
FSCL provides a free, independent dispute resolutions service that may help investigate or resolve
your complaint if we have not been able to resolve your complaint to your satisfaction.
You can view their website, contact them via email, phone, or write to them at:
REFIX, and anyone who gives financial advice on our behalf, has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
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
This information can be provided in hardcopy upon your request.