FAQs

FAQs

Here are some of the questions we’re asked most often. If your question isn’t there, you can ask us directly through LiveChat at the bottom of your screen.

About Tella

Can I speak to a human adviser? (or actual person?)

Of course! Our Home Loan Specialists are all qualified advisers and are happy to talk to you by phone, email, live chat or in person.

It's quick and easy to connect with our friendly Home Loan Specialists by clicking on the Live chat in the bottom right hand corner of the screen.

What qualifications do you have to advise me?

We provide robotic or digital advice through the use of guidance tools. These tools are designed to be informative in helping you make the right decisions around your home loan. While we focus on providing a digital way of doing things, we always offer you the ability to talk to a registered adviser.

Registered advisers must carry the industry standard "Level 5" qualification to provide advice. Our registered advisers are known as "Home Loan Specialists". You can talk to our Home Loan Specialists via live chat, email, phone, or in person.

Which parties use the information I share with you?

The information you provide Tella stays with employees of Tella and the lender(s) we apply to on your behalf.

You can check our privacy, disclosure and information statement here.

Why use Tella over going direct to a bank?

With Tella you have the ability to view home loan options across a range of lenders. Going directly to a bank means you can only see their loan options. Working with multiple banks and non-bank lenders, Tella has access to a range of interest rates and borrower terms, making us a one-stop-shop for your home loan needs.

Tella's Service

Do I have to pay Tella for any of the services?

Almost all our general services are free of charge. However, there may be few services (including some non-bank lender or bridging options) where Tella is not compensated by the lender, and a service fee for time involved would be invoiced as part of your approval. In this instance you would be informed well in advance and you may choose to use these services or not. Payment of the invoice is often on settlement of the new loan and added to your loan amount by the lender.

If you get paid by the lenders, how can you be independent?

Lenders offer commissions to advisers for the referral of new customers. As we are paid by the lender, it is important that we disclose to our customers the amount that we are paid. We disclose this detail in all customer disclosures and the details of commission rates can be found in our Public Disclosure.

Can Tella advisers provide advice regarding the KiwiSaver investments?

At this time the Tella Team will point you in the right direction for the information you need regarding KiwiSaver. We have a guide and note all KiwiSaver providers for withdrawal requests. For specialised advice we can suggest an investment adviser who specialises in providing advice regarding all investment instruments such as KiwiSaver.

Is there a cost to use Tella?

99% of the time the answer is no. In the rare instance that Tella thinks it can service its client’s needs better by using a provider or lender that doesn't pay Tella for their service, we would advise the client of this cost in advance of providing the service.

Will Tella charge me anything if, after getting a pre-approval through Tella, I change my mind and decide to go directly through bank or say another broker?

Tella won’t charge you. If Tella hasn’t met your expectations and you have gone elsewhere we would appreciate any feedback as to what went wrong and what we can do to improve.

Banks & Cashback

How do banks differ from one another?

It's better to say they are all different in small ways. At Tella we like to look at it this way; products across the banks are similar, but some of the little things aren't. These include the way a product functions, fees, terms and conditions, their online platforms, their ease of customer onboarding, and their overall corporate cultures. We take all these differences into account when considering the best fit for you as a client.

Do lenders offer cashback offers?

Some banks offer incentives for taking up a home loan with them, but the offer may come with a clawback clause. This means you may be required to bank with them and agree not to refinance your home loan for a certain number of years or you'll have to return the cash incentive.

How much cashback can I expect when I take a home loan?

Cashback is certainly helpful and something to look for when you apply for a loan. It can be helpful to have some extra cash in your pocket when you buy a new home.

The amount of cashback depends on the loan amount and your lending bank’s policies around the cashback. You will get to know the exact amount of your cashback after you receive approval on your loan.

The cash contribution is paid when you settle, or up to 5 business days after settling with some providers.
This is more of a reimbursement or contribution towards costs so should not be required to be able to settle on your property.

Will I be eligible for cashback if I refinance my loan?

Yes. This is one of the upsides for refinancing.

Have more questions?

We’re here to support you at every stage of your home loan journey. So, use our LiveChat, flick us an email or pick up the phone and let us help.