Disclosure Statement
Licensing information
The Lending Room Limited holds a Class 2 Financial Advice Provider Licence issued by the Financial Markets Authority to provide financial advice services.
FSP Number: 486566
FSP Name: The Lending Room Limited
NZBN: 9429042181880
Registered office and business address:
Lending Room, Level 8, 57 Fort Street, Auckland CBD.
Dispute Resolution Scheme:
FDRS
DRS Membership Number: 5669
Sevices
The Lending Room Limited provides financial services for:
- Vehicle loans, personal loans and debt consolidation and
- Guaranteed asset protection insurance, payment protection insurance, motor vehicle insurance, and mechanical breakdown insurance.
We provide financial services about credit contracts from Finance Now, Oxford Finance, Avanti Finance, Geneva Finance, Pioneer, Financial Holdings Limited, Jade Finance, AKF Finance, Personal Loan Corporation and MTF (Penrose branch), Lifestyle Money.
We provide financial services about insurance products from Autosure Insurance and Janssen Insurance.
No Financial Advice
The Lending Room does not provide regulated financial advice. If we present a credit contract or credit contract insurance products to you, our role is limited to providing you with relevant information and assisting you with making the application. This information aims to assist you in making an informed decision.
Fees and remuneration
Loans:
The Lending Room will charge a broker / introducer fee of up to $1,500, while our lenders impose an establishment fee that can range from $195 to $450, depending on the specific lender. These fees are added to the loan amount you are borrowing and are GST inclusive.
We receive remuneration through commissions from lenders. The successful lender pays us a commission based on the loan value.
Insurance Products
If we assist you in obtaining insurance from Autosure Insurance or Janssen Insurance, in conjunction with a vehicle or personal loan, we may receive a commission from that insurance provider.
Conflicts of Interest
Beyond the commissions paid we receive, on occasion we may receive non-monetary rewards such as gifts or tickets to events from financial services entities. We may provide non-monetary rewards to third parties that refer you to us, where you enter into a completed contract.
To address conflicts of interest we provide our team with ongoing training in conflict interest management. We regularly carry out compliance audits and reviews of our compliance program to ensure our policies underscore independence, objectivity, and ethical behaviour. Our primary focus is always on our clients’ best interests.
Complaints and dispute resolution
If you are dissatisfied with our financial advice services, you can submit a complaint to The Lending Room by emailing info@lendingroom.co.nz or calling 09 928 6800.
After receiving your complaint, we will thoroughly review it and if needed we may contact you for more information. We will aim is to resolve complaints within 5-10 working days from receipt. You can expect to receive communication from us via phone or email regarding the outcome of your complaint and our proposed resolution.
If we are unable to resolve your complaint, or if you are not satisfied with our proposed resolution, you have the option to contact Financial Disputes Resolution Service (FDRS).
Financial Disputes Resolution Service (FDRS) is an organisation that provides a free and independent dispute resolution service for consumers in the financial services industry.
Contact
Post: FDRS, Freepost 231075, PO BOX 2272, Wellington, 6140
Email: enquiries@fdrs.org.nz
Phone: 0508 337 337
Website: www.fdrs.org.nz