Why I Specialise In Reverse Mortgages
A standard mortgage client can refinance if they get it wrong. A reverse mortgage client is usually in their seventies, is not going back to work, and is putting the family home on the line. The decision has to be right the first time.
I noticed early on that almost nobody was giving these clients specialist advice. People were ringing the lender, getting a clear explanation of that lender’s product, and signing. Nobody was asking whether the other lender would suit them better, whether they should borrow less, or whether a reverse mortgage was the right tool at all.
So that became the job. I still arrange ordinary home loans through Oliver Broomfield Mortgage & Insurances, but this site, and a growing share of my week, is about reverse mortgages.
Qualifications, Licensing And Who I Answer To
- I am a licensed financial adviser. I give advice through Future Matters Limited (FSP762214), which operates under the NZFSG financial advice provider licence (FSP286965). You can check both on the Financial Service Providers Register.
- I am a member of Financial Advice NZ, the professional body for financial advisers, and bound by its code of conduct.
- If something goes wrong and we cannot resolve it between us, you can take a complaint to Financial Services Complaints Limited (FSCL), an independent dispute resolution scheme. It costs you nothing to use.
How I Am Paid
When a reverse mortgage I have arranged settles, the lender pays me a fixed referral fee. You do not pay me a fee for advice, and the lender does not charge you more for coming through me.
The amount does not depend on how much you borrow, and I disclose it whichever lender we end up with, so the recommendation is about the loan rather than the fee. I tell you the figure in writing before we start, and the full detail is in my disclosure statement.
Where I Work And Who I Help
My office is at 1/2 Rangitira Avenue, Takapuna, with parking out front. Most of my reverse mortgage clients are on the North Shore, from Devonport up to Albany and Orewa, and I am happy to come to you if getting into Takapuna is a hassle. Plenty of families prefer that, because it means the children can sit in.
I also work with homeowners across the rest of Auckland and around New Zealand by phone and video call. Both lenders accept applications nationally, so where you live does not limit your options, although minimum property values do vary by region.
The people I help are usually one of three: the homeowner themselves, a couple deciding together, or an adult child who has been asked to sort it out for a parent. I am comfortable with all three, and I never mind being asked the same question twice.
Professional Memberships And Profiles
- Financial Advice NZ member, membership number FSP 32442
- Financial Service Providers Register: Future Matters Limited, FSP762214
- LinkedIn: linkedin.com/in/oliverbroomfield
- Oliver Broomfield Mortgage & Insurances: oliverbroomfield.co.nz
If you would like to talk through your situation, book a time or call 0272 751 555. The first conversation is free and there is no obligation at the end of it.
Talk To Oliver Before You Talk To A Lender
The first conversation is free and commits you to nothing. The lender pays me a referral fee only if a loan settles, and I disclose it before we start. It is all set out in my disclosure statement.