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Switch Mortgages Limited, trading as Switch Home Loans, holds a licence issued by the Financial Markets Authority to provide financial advice.  We provide financial advice to our clients about mortgages, business and commercial loans.  Financial Service Provider (FSP) number is: FSP709113


Our qualified financial adviser, Paul Townsend, provides financial advice about products from certain providers:

  • We work with multiple banks including ANZ, ASB, Westpac, Co-operative, and SBS Bank and also various non-bank lenders including Avanti Finance, Liberty, First Mortgage Trust, Prospa, Resimac Home Loans, Mutual Credit Finance, Heartland Bank and NZCU Baywide. 


Switch Home Loans and financial adviser Paul Townsend receive commissions from the banks with whom we arrange mortgages for.  If you take out a mortgage with us the bank will pay a commission to your financial adviser.  The amount of the commission is based on the amount of the mortgage advanced. 

The commission paid will be 0.70% to 0.85% of loan amount. One bank will pay an upfront commission equal to 0.60% of the loan amount.  A renewal commission of 0.20% of the loan amount will then be paid annually until the loan is repaid. 

As part of the intended financing transaction, we recommend the importance in reviewing your personal risk insurance requirements. The adviser may receive a commission for referring any personal risk insurance to another adviser.


To ensure that our financial adviser prioritises the client’s interest above our own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances.

Our financial adviser undergoes training on how to manage conflicts of interest on a regular basis. Our adherence to compliance requirements and our compliance program is audited annually by a reputable compliance adviser.


On the majority of occasions Switch Home Loans and the adviser are paid a commission as detailed above. However a fee may be charged if a mortgage is repaid or cancelled within 27 months of inception. For example, if it is repaid within 12 months, 100% of the commission paid may be clawed back. If the loan is repaid between 12 months and 24 months 50% of the commission paid may be clawed back.

We realise that these rates are given by way of illustration only and the actual rates for any specific loan transaction will be set at the time of the transaction. Please note policies vary across all banks/lenders.


The fee will be based on the commission that the product provider requires the adviser to repay, and an assessment of the time involved in providing the financial advice to the client. The fee will be discussed fully with the client prior to an invoice being issued.

In the situation where commission is not paid by the lender to the adviser, an application fee of up to 1% is payable. This will be discussed with you prior to being implemented and will only be payable on a successful approved and settled finance application by the lender. 


If you have a problem, concern, or complaint about any part of my service, please contact us so we can try to fix the problem. When we receive a complaint, we will consider it following our internal complaints process and will let you know how we intend to resolve it. We aim to resolve complaints within 10 working days of receiving them.   

If we cannot agree on how to resolve the issue, you can contact the Financial Dispute Resolution service. This service will cost you nothing, and will help us resolve any disagreements.

You can contact Financial Dispute Resolution Service at:
Address:  Free post 231075, PO Box 2272, Wellington 6140
Telephone:  0508 337 377
Full details of how to access the Financial Dispute Resolution Service can be obtained on their website


Phone: 027 352 6262


Financial Service Provider (FSP) number is: FSP368926

Paul Townsend is your financial adviser and providing the advise on behalf of Switch Home Loans. 

I have been providing financial advice on a wide range of products and services since 1990. 


We are bound by the duties of the Financial Markets Conduct Act to:

  • Meet the standards of competence, knowledge and skill set out in the Code of Conduct.

  • Give priority to the clients' interests and exercise care, diligence and skill and meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct. 


The information I have discussed with you and advised above is available in writing. Please let me know if you wish to have a written copy of this. 

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