SOS Terms and Conditions of Service

SOS Holdings Limited trading as SOS Solutions Out Sourced Non-Bank (“SOS”) provides business-to-business support services for financial advisers (“advisers”). We do not deal directly with retail clients (“clients”) and do not provide financial advice as defined by the Financial Advisers Act 2008.

Our purpose is to obtain a loan offer for your client.

The adviser is required to make their own assessment of the suitability of any loan offer presented by SOS, including consideration of the client’s specific situation and needs.

The adviser is required to make sure that the client fully understands the terms and conditions of any proposed loan as well as their obligations under the terms and conditions of the loan, including their obligation to make the loan payments and complete the exit strategy.

SOS will not be held responsible in the event that any information relating to a loan application is not provided or the information provided turns out to be false or incorrect.

SOS collects, holds and uses client information in accordance with the Privacy Act 1993.

All client information will be collected via the adviser.  SOS will only collect information relevant to our business relationship with the client.

By agreeing to these terms and conditions, the adviser confirms that they have received satisfactory written authority from the client(s) to provide the client’s information to lenders, product and service providers and associated parties (including SOS), in respect of assessing eligibility for a home loan and/or other finance associated with the loan application.

We will limit the use of client information to:

  • The carrying out of our business which includes obtaining loan approvals from non-bank lending institutions;
  • Fulfilling our legal requirements (e.g. disclosure to law enforcement agencies or the courts);
  • Fulfilling Audit and Compliance requirements.

SOS will not share, sell or trade any client information to any other company or person.

SOS will make all reasonable endeavours to ensure that client information is kept secure and confidential.

A client can access the client information SOS holds about them subject to certain legal exceptions (e.g. information relating to existing or anticipated legal proceedings).  A client can request that SOS change or correct information held by us by telephoning  027 767 5626 or sending an email to

SOS is not a reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).

Upon receipt of a loan application, SOS will provide guidelines to the adviser regarding the type(s) of information and documentation that a lender will likely require to satisfy the AML/CFT requirements.

If there are requests for further information from the lender, SOS will communicate these to the adviser.

The adviser is responsible for the collection and verification of all client information such that the lender can meet their obligations under the AML/CFT Act.

Should any actual or potential conflicts of interest arise while processing a loan application, SOS will communicate this to the adviser upon presentation of the loan offer.

The adviser must determine whether the conflict(s) of interest should be communicated to the client as part of their disclosure obligations.

SOS will charge a fee for providing adviser support services.  This fee is payable by the client at loan settlement and is part of the loan monies being borrowed.

Unless otherwise agreed, SOS will charge the industry standard non-bank adviser fee of 1% of the loan amount. The fee will be split evenly between SOS and the adviser with the exact amount disclosed upon presentation of the offer.

The requirement for any external expertise (either stipulated by the lender or suggested by SOS) such as legal or accounting advice and/or valuation services will be at the client’s expense.  It is the adviser’s responsibility to explain this to the client and ensure that the engaged external provider will meet the lender’s expectations.

We aim to provide an efficient and high-quality service. To assist us meet your timeframes and expectations, we ask that you provide, in a timely manner, the following:

  • Client instructions (including any time constraints); and
  • Any other information requested by us.

The adviser must contact SOS as soon as practicable if any concerns or changes to the information provided arises.

SOS will hold client information for seven (7) years from the date that work has been completed. Thereafter, we will securely destroy the client information that we hold.

Information held by SOS will be made available to the adviser for compliance purposes when requested by the FMA or another authorised compliance person(s).

SOS does not provide financial advice and is therefore not required to maintain membership in a dispute resolution scheme.  The adviser is fully responsible for all financial advice given and is required to provide their dispute resolution information to the client.

The adviser may access our internal dispute resolution process by telephoning 027 767 5366 or  emailing with any concerns or complaints relating to SOS’s service.