What Financial Advice Means in NZ

In New Zealand, “financial advice” refers to guidance you receive when making decisions about financial products such as mortgages, insurance, or investments. Advisers must be licensed and follow the Financial Markets Authority (FMA) rules to ensure advice is fair, clear, and in your best interests.

Mortgage brokers provide a form of financial advice focused on home loans. They compare options across banks, explain loan structures, and help you choose the right approach for your situation. At Taranaki Home Loans, our advice is free to clients, we’re paid by the lender once your loan is in place.

Why Mortgage Advice Matters

Mortgages are complex. Rates change, bank policies differ, and loan structures can save or cost thousands over time. Good advice makes a difference in areas such as:

  • Loan type
    Fixed, floating, or split? Each has pros and cons.
  • Repayment strategy
    Weekly vs monthly, lump-sum payments, and restructuring options.
  • Bank comparison
    ANZ, BNZ, ASB, Westpac, and TSB all set their own terms. A broker reviews them side by side.
  • Long-term planning
    Advice doesn’t stop at settlement. Taranaki Home Loans monitors your mortgage and recommends changes when better options arise.

Without advice, many buyers stick with a single bank or miss out on savings.

Free vs Paid Advice

In NZ, most mortgage brokers provide free advice to clients. This is because banks pay them directly for arranging the loan. Importantly, this does not mean advice is biased. Licensed brokers must act in your best interests and explain why a particular lender or structure is recommended.

Some financial advisers charge fees for complex cases. but in most situations, especially for first-home buyers or refinancing using a broker won’t cost you anything. Taranaki Home Loans will never cost you a cent.

 

Ongoing Value of Advice

Financial advice is not just a one-off service at the start. Mortgages last decades, and market conditions change. At Taranaki Home Loans, we provide ongoing support:

Monitoring bank rate changes.

Checking whether refinancing or restructuring could save you money.

Advising when your fixed term is about to expire.

Helping you adapt your loan as life changes — such as starting a family, moving house, or investing.

This active loan management ensures you don’t miss opportunities that could improve your financial position.

Conclusion & Next Steps

Financial advice gives you clarity, confidence, and often better outcomes when buying or refinancing a home. In New Zealand, mortgage advice from a broker is free for clients and ensures you get a fair comparison across banks.

At Taranaki Home Loans, we provide reliable advice upfront and ongoing loan management after settlement. If you’d like personalised mortgage advice, contact us today.

 

FAQ's

It’s guidance from a licensed adviser about financial products such as mortgages, insurance, or investments.

Yes, most mortgage brokers like Taranaki Home Loans provide free advice, as banks pay their fees.

Yes. Advice helps you understand your options, compare banks, and avoid costly mistakes.

Yes. Brokers are licensed to provide mortgage-related financial advice and must act in your best interests.

A broker compares multiple banks, negotiates on your behalf, and supports you throughout the process.

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