Important information about Lendy Ltd (FSP1004944)

License Information

Lendy Ltd (FSP1004944), holds a Class 2 Financial Advice Provider Licence issued by the Financial Markets Authority to provide financial advice.

Contact Details

Lendy Ltd (FSP1004944) is the Financial Advice Provider. You can contact us at:
Email: hello@lendy.co.nz
Phone: 0800 22 22 19
Address: 7/2 Bishop Browne Place, Botany Downs, Auckland 2013

Nature and Scope of Engagement

Vehicle Loans, Personal Loans and Debt Consolidation
New lending and refinance
Lendy Limited provides financial advice services for vehicle loans, personal loans and debt consolidation loans from a number of lenders across NZ. 

Credit and Asset Insurance Products
Lendy Limited provides advice on Mechanical Breakdown Insurance, Guaranteed Asset Protection, and Consumer Credit Insurance. We provide advice on these products from Go Cover, Autosure and Janssen Insurance.

Our advice services: How we operate

To ensure that our financial advisers prioritise the client’s interests above their own, we follow a robust advice process to ensure our recommendations are made on the basis of the client’s goals and circumstances.

We Put Your Needs First.

1. Getting started. We get to know you: your circumstances and what you want to achieve.
2. Next, it's time to gather information and relevant data for your needs and objectives.
3. Then we get to work, assessing the information provided and gathered, and working through the options and solutions relevant to your needs.
4. And after that gathering and analysing, we provide our recommendations.
5. Then we implement those recommendations.
6. And lastly, every year, we invite you to review your needs and circumstances.

Conduct

Lendy Limited, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

  • Give priority to your 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 you with 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)
  • 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 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.

Fees and Remuneration

Loans
Lendy Limited may charge an Introducer Fee of up to $2500 and our lenders charge an Establishment Fee which can vary up to $350 depending on the Lender. These fees are added on to the loan amount you are borrowing.

Lendy may also be remunerated in either of these ways depending on the lender:

  1. Commission: We may receive a commission from the lender when a loan is completed. The commission amount is either: (a) a percentage of the loan amount and will vary depending on the lender, or
  2. Interest Income: A portion of the interest payable by you to the lender based on the amount financed and the term of the loan, paid to us at settlement, or
  3. A flat fee of up to $250

Loan Terms

Repayment frequencies available are: Weekly, Fortnightly & Monthly. The repayment terms range between 60 months and 72 months.

Loan Approvals

All approvals are subject to the lender’s credit and affordability criteria. Our lender will independently assess your application and provide a decision. We have no say on whether the lender will approve your loan application. 

Insurance Products
If you take out Credit or Asset Insurance with Go Cover, Autosure or Janssen Insurance on our advice, we receive a commission from the insurer.

Conflicts of Interest; Commissions and Incentives

Lendy Limited receives income from lenders and insurance providers. This income varies depending on the lender or insurance provider.

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. We maintain registers of conflicts of interests, and the gifts and incentives we receive.

We take any perceived or real conflicts of interest very seriously and have a dedicated policy for dealing with such issues whereby we avoid, disclose and/or manage any conflicts so that our client’s interests are placed first and foremost.

All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually.

Complaints handling and dispute resolution

If you are not satisfied with our financial advice service you can make a complaint by emailing hello@lendy.co.nz or by calling 0800 22 22 19. You can also write to us at: 7/2 Bishop Browne Place, Botany Downs, Auckland 2013

When we receive a complaint, we will consider it following our internal complaints process:

We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.

We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.

We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited (FSCL).

Financial Services Complaints Limited (FSCL) provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can contact Financial Services Complaints Limited (FSCL) by:

  • emailing complaints@fscl.org.nz or
  • calling: 0800 347 257
  • can also write to them at: FSCL, PO Box 5967, Wellington 6140
  • or fill in the online complaints form: https://fscl.org.nz/about-us/complaints/complaint-form

How to get a printed copy

You can print a copy of this disclosure statement here.

Ask us - we are here to help...

We welcome any questions or queries you have in relation to this information. Just get in touch on 0800 22 22 19 or hello@lendy.co.nz