Our responsible lending commitment

We’ve been helping business and personal clients for over 40 years and we’re committed to being a responsible lender. We want to be up front with you and let you know what you can expect when you borrow money from us.

Aztec Finance is a registered financial services provider. Our registration number is FSP42683.

What to expect when you apply for a loan with us

When you apply for a loan, Aztec Finance has certain responsibilities to you. We’ll make sure we understand your situation and your needs, and especially that you’re not applying for a loan you can’t repay. We want to ensure you make a good decision.

We’ll ask first so we understand where you’re at

We may need to ask you about your financial circumstances, including:

  • your income or benefits and whether your job is full time, part time or casual;
  • your fixed expenses such as rent, repayment of other debts, child support, and monthly or yearly expenses such as insurance;
  • other expenses that occur from time to time and any special or unusual circumstances that might change your ability to repay a loan;
  • your existing loans and whether your new loan with us will be used to repay these;
  • your credit history;
  • your personal circumstances, including your age and the number of people who are financially dependent on you;
  • your assets and their value (such as a house or car).

We may need to ask you for proof about your financial circumstances, including:

  • obtaining a copy of your credit report;
  • asking for copies of your payslips, tax returns and bank statements;
  • asking to see your identity documents (e.g. a passport);
  • with your permission, talking to your employer or accountant;
  • asking to see your original documents rather than photocopies;
  • checking in other ways (e.g. with other lenders, especially if any information or documents you provide don’t tally).

Rest assured, we’ll keep all your information confidential.

Deciding what’s right for you

We’ll ask you about the amount you’d like to borrow, when you need the money and how long you need it for, what you need the money for and the type of loan that would suit you best.

We may decide not to give you a loan if we don’t believe you’ll be able to repay it, or if we believe you’ll find it extremely difficult to repay, or if the type of loan won’t meet your needs or goals.

We’ll make sure you understand

We’ll do our utmost to make sure you understand everything about the loan, including your rights and responsibilities, before you sign a contract.

We’ll give you fair terms and conditions, including clearly explaining interest rates and fees.

We’ll make fair decisions about any property being used as security against your loan and ensure that this property is clearly described in your loan documents and that you understand what this means.

We’ll ensure you understand the risks that come with having a loan, and the consequences of not repaying it, which unfortunately might include repossession or the sale of any property you provide as security.

We’ll discuss all this with you when you apply for your loan.

Helping you if things go pear shaped

If you’re having trouble repaying your loan, please contact us straight away.

We’ll treat you reasonably if you miss payments. This may include renegotiating the terms of your loan wherever possible.

We’ll work with you to find solutions if you’re having money problems, or if you suddenly face hardship. This may include referring you to someone who can give you advice about how best to manage your money.

We’ll refer you to a budget advisor and work with the budget advisor if you request this. If you experience financial difficulty and seek the advice of a budget advisor, you need to understand the difference between a secured creditor (Aztec Finance) and any unsecured debt you have. Entering No Asset Procedure (NAP) or full bankruptcy won’t remove your obligations for secured debts.

We’ll help you to deal with any social service provider (such as Work and Income New Zealand) if you request this.

While we have a right to be repaid, we’ll make sure that you are treated fairly if your property has to be repossessed. Being treated fairly includes:

  • making reasonable efforts to tell you about other payment options before your property is repossessed;
  • repossessing only the property named as security in your loan contract;
  • treating you and your property with dignity and making sure the repossession agents also treat you fairly.

What to do if you have a complaint about your loan

We have processes in place for you if you have a complaint.

There are websites you can visit that provide useful information about borrowing money:

  • www.sorted.org.nz
  • www.consumeraffairs.govt.nz
  • www.comcom.govt.nz
  • www.fsf.org.nz
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