Loan Enquiries

Standby Servicers Limited

P O Box 248

Level 2

104 Victoria Street

Christchurch

Phone 03 963 6535

Freephone 0800 00 16 16

Fax 0800 379 425

If you have previously received advice of the transfer of your propertyfinance loan to Propertyfinance Funding Nominees Limited (PFNL), your loan is now being serviced by Standby Servicers Limited.

Please refer to the following links for further information regarding your loan.

Lifestyle Security Customers

Residential and Commercial Motrgage Customers

Lifestyle Security Customers

Below are the answers to some of our most frequently asked questions. If you have any questions not covered below please contact us on 0800 99 33 66.

Am I able to draw down on my Lifestyle Line of Credit facility?
Yes. You may continue to draw on your Line of Credit facility to the maximum amount of funds available (as advised in your statements) by us on 0800 99 33 66. Please have your PIN card handy.

Can I increase my Line of Credit?
No. We are not able to offer you the ability to increase your Line of Credit. However, there is an automatic 1.25% per quarter increase on undrawn Line of Credit. This is calculated on the difference between the facility amount and the outstanding principal amount and is applied to your account on the last day of each quarter.

Can I substitute my security property?
Any substitution of the security property is at the discretion of New Zealand Guardian Trust and must be dealt with on an individual basis. If you think that you may wish to substitute your security property (for example, you are selling your home and buying a new one and wish to retain your Lifestyle loan) please contact us as soon as possible on 0800 99 33 66 so that we can discuss your specific circumstances.

When can I make Lifestyle loan repayments?
You can repay your Lifestyle loan partially or fully at any time. Please contact us on 0800 99 33 66 so that we can advise you of the correct account and reference numbers to be used when making repayments.

How often is the interest rate on my Lifestyle loan reviewed?
The interest rate on your Lifestyle loan will continue to be reviewed in line with the Terms and Conditions of your loan contract. This is undertaken quarterly on the first business day of January, April, July and October.

How often will I receive a statement?
Statements are issued as at the last business day of every second month in January, March, May, July, September and November.

Residential and Commercial Mortgage Customers

Below are the answers to some of our frequently asked questions. If you have any questions not covered below please contact us on 0800 00 16 16.

Am I able to vary the conditions of my current mortgage?
All requests to vary your current mortgage are at the discretion of the Trustee, New Zealand Guardian Trust. Please contact us on 0800 00 16 16 to see if your request will be possible. We will be able to advise you on what information is required as part of the request process.

Please note that at this time we are not able to offer new fixed interest rates or provide any additional advances (“top-ups”).

I wish to discharge or refinance my mortgage. What should I do?
It can take some time to organise a discharge or refinance. Therefore, we would appreciate it if you could provide us with a minimum of 14 days notice of your intention to discharge or refinance. All requests for discharge or refinance must be made through your lawyer. Please direct all discharge or refinancing enquiries to:

Gary Townsend
Freephone 0800 00 16 16
Fax 0800 379 425
Email gary@standbyservicers.co.nz

Are interest rates likely to go up or down?
We cannot provide advice on whether interest rates are likely to rise or fall in the future. However, we continually monitor the market to determine appropriate interest rates, and adjust interest rates as and when market conditions dictate.

Do I need to have home insurance?
Yes. Your loan contract specifies that you must have current home insurance at all times. Failure to do so is a serious breach of your loan contract. If you change insurers, please contact us on 0800 00 16 16 and advise us of your new policy details.

Am I required to keep my property rates up to date at all times?
Yes. Your loan contract specifies that you must keep your rates current at all times. Failure to do so is a serious breach of your loan contract. Please note that if you are in arrears on your rates your local council will inform us of this breach.

I’m having difficulty meeting my loan repayments. What should I do?
You must contact us as soon as you are aware that you are having difficulty meeting your mortgage repayments.

I have missed one or more loan repayments and my mortgage is in arrears. What happens now?
As soon as you miss a regular scheduled mortgage repayment you will be contacted by us immediately, and your loan account will start accruing penalty interest. Please note that penalty interest is charged at 5% of the entire outstanding balance of your loan, as per your loan contract.

If your arrears are not remedied within 30 days we will issue a Property Law Act (PLA) notice. A PLA notice requires you to pay your arrears within 20 working days from the date of the PLA notice. If this does not occur, it gives us the right to sell your property.

If you do find yourself in this situation, you may wish to initiate the marketing and sale of your property yourself. However, if you choose to do so, we will need to give our consent to any sale. Please contact us on 0800 00 16 16 to discuss what other requirements you will need to meet.

Please note that any failure to meet your loan repayment obligations will impact negatively on your credit history.