Kiwibanka Home Loan and Business Banking App User Guide

HOME LOAN AND BUSINESS BANKING
Solicitor Instructions
General Information
Effective November 2023

Home Loan and Business Banking App

As part of our identity, Kiwibank worked with multi-disciplinary Māori artist Tristan Marler (Manawa Tapu) to design a set of tohu (cultural motifs or symbols) that represent attributes of our brand and of a thriving community.

 Introduction

1 .1 We’ve asked you to act as our solicitor in the transaction described in your personalised instructions.
1.2 These general instructions and your personalised instructions (together, the instructions) set out the requirements you must meet when acting for us in relation to the transaction.
1.3 In your solicitor’s certificate you’ll need to confirm that you have met the requirements in the instructions.
1.4 You’ll notice that some words in the instructions are in bold. These words have the meanings set out in the glossary in section 16 of these general instructions.

 Your engagement

2 .1 To act for us you must:
(a) have a current practising certificate issued under the Lawyers and Conveyancers Act 2006;
(b) have professional indemnity insurance:
i. with a reputable insurer;
ii. that covers the minimum indemnity limit as specified by the New Zealand Law Society; and
iii. with a claim limit of at least the total amount of our lending under, or relating to, this transaction;
(c) have a trust account;
(d) have obtained informed consent of each customer to act for us; and
(e) not have any conflict of interest in relation to this matter, or otherwise an interest in this transaction (apart from being the borrower and/or guarantor’s lawyer).

2.2 We require you to:
(a) comply, and where necessary, continue to comply with the instructions in all respects;
(b) protect our interests at all times;
(c) review the documents and satisfy yourself that each customer can lawfully enter into the documents that it is party to;
(d) check each customer’s details in the documents (including name and address) are correct;
(e) ensure that no changes are made to the documents without our written approval;
(f) tell us if security has been given by any person who isn’t also a customer (as the security may not be enforceable unless accompanied by a guarantee);
(g) make all prudent enquiries and obtain and keep copies of all public records required for you to make the statements set out in the solicitor’s certificate, this may include searches of:
i. Land Information New Zealand (LINZ);
ii. the companies register maintained by the New Zealand Registrar of Companies; and
iii. the Personal Property Security Register (PPSR).
(h) where possible, send documents to us electronically as set out in the personalised instructions promptly following execution (by scanning, uploading and submitting). Provided this occurs, you don’t need to send us hard copies of originals; and
(i) keep instructions as evidence of authority to act.
2.3 Your costs in acting for us are payable by the borrower.
By acting on this matter you agree that we’re not responsible for payment of those costs irrespective of whether the transaction proceeds.
2.4 If you’re unable or unwilling to act for us, you find the instructions unclear or incorrect, or otherwise don’t or cannot meet the requirements outlined above, please tell us immediately.

Providing advice to borrowers and guarantors (including under the CCCFA)

3 .1 This section sets out information about advice to be provided to borrowers and guarantors. We rely on you to complete these matters to help us meet our legal obligations, including under the CCCFA. Please ensure all advice contemplated by this section is provided.
Advising borrowers and guarantors
3.2 You must provide advice to each borrower in relation to the documents, and to each guarantor in relation to their guarantee and the other documents, in each case so that they understand their obligations. In providing that advice, where any loan agreement (including any loan agreement that the guarantee relates to) is a consumer credit contract (as defined in the CCCFA), we also rely on you to help us to meet our lender responsibilities under the CCCFA, including complying with the sections of the Responsible Lending Code relating to assisting borrowers and guarantors (as applicable) to make an informed decision.
3.3 In addition to any other legal advice that may be appropriate in the circumstances, please take reasonable steps to ensure that each borrower or guarantor has a good understanding of each document and is able to reach an informed decision about whether to sign the documents that it is a party to.
3.4 In relation to each borrower, this includes explaining (and ensuring the borrower understands):
(a) the key features of the loan agreement(s). This includes the loan amount, credit limit, interest rate (and whether the interest rate can change), repayments, term, default interest rate, fees (including, for example, when a fixed rate break cost may apply), cancellation rights, and any security;
(b) the nature, extent and practical implications of the borrower’s obligations under the documents, including that if there is more than one borrower, each borrower is jointly and severally liable for all amounts owing to us under the loan agreement; and
(c) the effect of making the acknowledgements set out in the loan agreement and giving any representations in the documents.

3.5 In relation to each guarantor, this includes explaining (and ensuring each guarantor understands):
(a) the nature, extent and practical implications of each borrower’s obligations under the documents. This includes the key features of the loan agreement(s) such as the loan amount, interest rate (and whether the interest rate can change), repayments, term, default interest rate, fees (including, for example, when a fixed rate break cost may apply) and any security;
(b) the risks that the guarantor would be accepting by giving the guarantee;
(c) that, once the guarantor has signed the guarantee, the guarantor will become personally liable for all amounts that the borrower owes us under the documents;
(d) that the amount that the borrower owes us may increase over time, including if we agree changes to the loan agreement with the borrower. The guarantor will be liable for the increased amount, even if the guarantor wasn’t told about the increase and didn’t consent to it. This is subject to any limitation of liability set out in the guarantee and any legal obligations we have to tell the guarantor about changes to the loan agreement;
(e) that we do not have any obligation to tell the guarantor if we know or become aware that the borrower has not complied with their loan agreement and/or otherwise has any difficulties meeting their obligations under the loan agreement;
(f) that the guarantor’s liability is joint and several with the borrower’s and any other guarantor;
(g) that we may also claim any interest owed and costs incurred in the recovery process;
(h) that the guarantor is free to ask us to agree that their liability under the guarantee be limited. However, we’re not required to agree to that; and
(i) that they have a choice of whether or not to sign the guarantee.

3.6 Please take particular care if any of the following scenarios arise in relation to any borrower or guarantor:
(a) English is not their first language. Consider whether someone is available who can translate the advice or whether they need advice from a solicitor who speaks the same language.
(b) The borrower or guarantor:
i. has any health or physical conditions that may make day-to-day life more difficult (including learning disabilities, mental health or addiction issues);
ii. has recently gone through any major life events (such as a bereavement or relationship breakdown); and/or
iii. is elderly, related to another party to the transaction, doesn’t appear to obtain any benefit from the transaction, or otherwise may be inappropriately influenced into entering into the transaction.
If any of these scenarios arise, please consider again whether you need to:
(c) speak to the borrower or guarantor separately to ensure that they understand the risks and implications of signing the documents or guarantee; and/or
(d) require the borrower or guarantor to obtain independent legal advice.

Additional requirements when advising guarantors

4 .1 Where a guarantee is being provided, each guarantor must either:
(a) obtain independent legal advice. That is, advice from someone who isn’t advising us, the borrower, or any other party related to the transaction; or
(b) sign a copy as per a Guarantor’s Waiver of Independent Legal Advice in the form provided and you must explain the purpose of that document to them.
4.2 You must recommend that all guarantors get independent legal advice and, in some cases, we may require this. For example, we may require a guarantor to get independent legal advice if we are concerned that there is no direct benefit to the guarantor in providing the guarantee.
One situation where this can arise is, if spouses provide a guarantee to support business lending, even where the guarantor is a shareholder, director or other officeholder of the borrower.
4.3 In other cases, a guarantor may choose to waive the need for independent advice. If a guarantor wishes to waive independent advice, you must:
(a) consider whether such a waiver is appropriate in the circumstances. For example, it isn’t appropriate if you think the guarantor may be under the undue influence of the borrower or that the borrower may have made a misrepresentation to the guarantor; and
(b) if there are no concerns about the appropriateness of the waiver, ensure that the guarantor signs a Guarantor’s Waiver of Independent Legal Advice in the form provided and explain the purpose of that document to them.
4.4 When providing legal advice to a guarantor, if possible, you must meet with the guarantor face to face and without the borrower present. This could be in person or on a digital conferencing platform.

Disclosure to borrowers and guarantors

5 .1 Where a loan agreement is a consumer credit contract (as defined in the CCCFA), we rely on you to make:
(a) initial disclosure to each borrower before the documents are entered into (as required by section 17 of the CCCFA); and
(b) guarantor disclosure to each guarantor before the guarantee is entered into (as required by section 25 of the CCCFA).
5.2 In addition, if not already disclosed in order to comply with the CCCFA, we require you to provide:
(a) each borrower and each guarantor (if any) with copies of all the documents that the borrower or guarantor (as the case may be) is a party to; and
(b) each guarantor with copies of each loan agreement and any other documents relating to the guaranteed indebtedness under the guarantee that we provide to you.

Capacity and execution

6 .1 We need you to take reasonable steps to confirm that each person signing the documents has the capacity and authority to enter into the documents to which it is a party and perform their obligations under them. For example, where the signatory is:
(a) An individual, you should consider whether:
i. the individual understands the documents and the transaction;
ii. in the course of advising them on the documents, did you identify any concerns such as difficulty reading the documents, language difficulties or any risk they are under duress?
iii. the individual has reduced mental capacity;
iv. you have any reason to believe that they may be under the influence of drugs and/or alcohol; and/or
v. the individual is legally old enough to enter into the transaction and have it enforced against them.
(b) A trust or partnership, you should check the trust or partnership deed to ensure that the trustees/partners have the power to:
i. enter into the transaction; and/or
ii. give any guarantee or grant the security (including under any mortgage) that forms part of the transaction.
(c) A company, you should check that:
i. the company’s constitution does not restrict it entering into the loan agreement, guarantee, or any security document; and
ii. all necessary corporate authorisations (including director certificates and shareholder resolutions, as applicable) have been provided.
6.2 If you’re in doubt about a signing party’s capacity to enter any of the documents, please tell us immediately.
6.3 We also need you to ensure the customer has properly executed the documents by:
(a) making sure that, prior to signing, the documents are unchanged and in the form provided by us (unless we have approved all changes in writing);
(b) getting each customer to double check their names, addresses and any other information specific to their loan once the documents are signed; and
(c) reviewing the signed documents yourself and ensuring that:
i. no unagreed changes have been made;
ii. if changes are required to any document, and we have approved those changes in writing, those approved changes must be initialled by all signatories;
iii. if any document is a deed, signatures are witnessed (but please note that our staff cannot act as witness); and
iv. the documents have been signed in accordance with the signing table below:

in accordance with the terms of the relevant trust or partnership deed or the rules of the association. If there are no rules, all members must sign.
A company| Documents must be signed in accordance with section 180 of the Companies Act 1993.  Check the company’s constitution. If it contains more stringent signing requirements, these must be complied with.
A company incorporated overseas| Documents must be signed in accordance with the laws of its country of incorporation.
A limited partnership| Ensure that the documents are executed in accordance with section 17 of the Limited Partnerships Act 2008 and the terms of the relevant partnership deed.
An incorporated society or charitable trust| All signatories listed in the constitution or rules of the society or trust (as applicable) must sign the documents (and if a document is a deed, an authorised person must stamp the society or trust’s seal).

Power of attorney

7.1 The documents must ordinarily be signed by the customer, personally, in accordance with the protocols outlined above. However, the documents may be signed by an attorney on the customer’s behalf subject to the following conditions:
(a) you must obtain an original or certified copy of the relevant power of attorney and ensure that it’s in order, including that it grants the attorney the necessary power, capacity and authority to enter into and sign to enter into the documents on the customer’s behalf;
(b) you must provide us with a signed certificate of nonrevocation dated on or after the date the documents are signed;
(c) you must ensure you’ve fully explained and disclosed the documents to the attorney; and
(d) where the customer:
i. lacks capacity: you must satisfy yourself that the attorney is acting in the customer’s best interests under the Protection of Personal and Property Rights Act 1988;
ii. is a company: the relevant power of attorney must be granted by the company itself, not by a director in a personal capacity;
iii. is a trust: you must check that:

1. the power of attorney is given in accordance with the Trusts Act 2019;
2. the power of attorney contains a deed of delegation specifically authorising the attorney to act on behalf of the grantor as trustee; and
3. the delegation is not prohibited, or otherwise restricted, by the Trust Deed.

iv. has signed the relevant power of attorney overseas: you must check that the power of attorney has been witnessed by a Notary Public with the Notary Public’s seal attached, and is in English.

Mortgages

8.1 Where the transaction involves a mortgage, we require the mortgage to be first ranking unless we advise or agree in writing. Please make the enquiries and checks described below and tell us immediately if you identify any issues. We may require these matters be resolved before the loan can be drawn down.
8.2 Please obtain a guaranteed search of the record of title for the property. Please check for any instrument, charge, licence to occupy (registered or unregistered), easement or restriction affecting the relevant record of title of the property that may affect our rights under the mortgage (including the priority of our mortgage), the value of the property or our ability to sell the property. In addition, please tell us immediately if:
(a) the mortgage is over a leasehold interest, and that’s not specified on the description of the property set out in your personalised instructions. If we agree to taking a mortgage over the leasehold interest, we’ll require you to obtain written consent of the lessor to the mortgage on terms satisfactory to us;
(b) any property is, or may be, Māori land or Māori reserve; and/or
(c) any property comprises unit titles, and that’s not specified on the description of the property set out in your personalised instructions.

8.3 In relation to the property, please tell us:
(a) if, after checking with the relevant local authorities and with the mortgagor, you identify any unpaid rates on the property that won’t be paid on or before settlement;
(b) if a Land Information Memorandum or “LIM” has been obtained in relation to the property and the LIM shows any building or construction on the property that does not have the consents and certificates required under the Building Act 2004 or Resource Management Act 1991; and/or
(c) if you become aware of any breach, or noncompliance, of any relevant building or local authority consent or compliance certificate that is, or may be, required under the Building Act 2004 and/or the Resource Management Act 1991.

8.4 If the property is a stratum estate under the Unit Titles Act 2010, you must obtain the following information and/or documentation:
(a) the body corporate rules;
(b) the disclosure statements referred to under sections 146 to 148 of the Unit Titles Act 2010 (where applicable);
(c) details of any repair work performed, or due to be performed, in relation to which the mortgagor will likely incur costs; and
(d) the certificate of currency from the insurer of the building(s), confirming that the building(s) are insured under the body corporate’s principal insurance policy and that Kiwibank Limited’s interest has been noted with respect to the secured property (note that a broker’s certificate will not suffice unless it’s been endorsed by the insurer), and tell us if:
(e) any contributions required by the body corporate  in respect of the property are outstanding and won’t be paid on or before settlement; and/or
(f) you become aware of any matters that may affect any of the above information and which may affect  our rights under the mortgage or materially affect the value of the property.

Registration of mortgage
8.5 If you are required to register a mortgage for Kiwibank, please complete an approved Authority and Instruction form (which conforms with the certification requirements specified in the Land Transfer Regulations 2018 and has been approved by the New Zealand Law Society and the Registrar-General of Land). When completing the Authority and Instruction form:
(a) use the relevant mortgage details from your personalised instructions (but please first verify that the address(es), record of title number(s) and registered proprietor details supplied to you are correct and completely describe the property);
(b) the Memorandum of Mortgage to be used is our Memorandum of Mortgage number 2011/4295; and
(c) when inserting the priority amount, please be aware that, unless otherwise stated in your personalised instructions, our priority amounts will always be “plus interest”.
8.6 We require you to include our ‘Bank Client Ref’ in the LINZ e-dealing. Kiwibank’s ‘Bank Client Ref’ can be found in your personalised instructions.
8.7 On settlement, you must submit the mortgage for registration at LINZ. If there are any delays in registration, please tell us immediately and, if you consider it’s prudent to do so in the circumstances, register a caveat to protect our interests.

Post-registration
8.8 As Kiwibank’s ‘Bank Client Ref’ must be included in the LINZ e-dealing, immediately after registration of each mortgage Kiwibank will automatically receive a search copy of the relevant record(s) of title and a View Instrument showing that the mortgage is completed and has been registered. We also require you to check the relevant record(s) of title to confirm that the mortgage is completed and has been registered in accordance with the instructions.
Please send us copies of any unregistered encumbrancee/ caveator consent (if relevant).
If the registration has not been completed, or any unregistered consents haven’t been sent to us, within two business days from the date of your solicitor’s certificate, you must tell us immediately and explain why there has been a delay.

Insurance

9.1 We require all secured property (including inventory) capable of being insured to be insured at its full value against loss or damage by fire, explosion, flood, theft, environmental impairment and all other risks that are customary to insure against for that secured property. If the loan is used to fund construction, the loan agreement may also require the borrower to take out builders’ risk insurance.
9.2 The insurance policy needs to be acceptable to us.
In particular:
(a) the insurer must have a credit rating that is at least equal to a Standard & Poor’s rating of A-;
(b) the level of insurance must be acceptable to us.
In relation to insurance for secured property, our preference is that the policy is for the full replacement value of the secured property by reference to the details of the secured property (for example, the square meterage of the building). However, if the policy is a sum insured policy, please explain to the customer that the sum insured needs to be sufficient to repair or replace the secured property in a situation of total loss. The sum insured may need to change over time as building costs change. The insurance policy’s annual renewal is a good time to review this.
We may ask for the sum insured to be increased if we don’t believe it will be enough to replace or repair the secured property; and
(c) Kiwibank Limited’s interest must be noted on the policy.
9.3 Please also confirm with the relevant customer:
(a) that all insurance premiums due have been paid as at the date of your solicitor’s certificate; and
(b) whether they know of any potential or current insurance claim on the secured property that may affect their ability to make a claim under the policy now or in the future if there was a future disaster as this can impact on whether the policy is acceptable to us.
9.4 Please ensure that the customer understands that they must decide whether the policy is sufficient for their purposes. We only consider whether the insurance is sufficient to cover the amount owed to us – we aren’t responsible or liable if the sum insured isn’t sufficient to repair or replace the secured property.
9. 5 You must give us a copy of the Insurance Certificate of Currency (or equivalent documentation satisfactory to us) confirming the sum insured (if applicable) and showing that our interest is noted before we advance any part of a loan to the borrower. A certificate issued by an insurance broker won’t be satisfactory to us.

Variation of mortgage

10.1 For a variation of mortgage, please follow the same process set out in sections 8.5 and 8.7 above in relation to the completion of an Authority and Instruction form and the registration of the variation of mortgage as though references to a “mortgage” were references to a “variation of mortgage”.
10.2 We authorise you on or before settlement to submit the variation of mortgage for registration at LINZ.

Post-registration
10.3 Immediately after registration of the variation of mortgage is completed, you must send us (via propel-lc):
(a) a search copy of the relevant record(s) of title confirming that the variation of mortgage has been registered in accordance with the instructions, and a copy of the View Instrument confirming the information; and
(b) copies of any unregistered encumbrancee/caveator consent (if relevant).
If these documents haven’t been sent to us within two business days from the date of your solicitor’s certificate, you must tell us immediately and explain why there has been a delay.

Security agreements

Check details
11.1 Each security agreement and financing statement is pre-populated with:
(a) customer details; and
(b) a description of the secured property.
11.2 Where the secured property includes any motor vehicles or aircraft, the financing statement must include the following information:
(a) for each motor vehicle: the year of manufacture; the make and model; the registration number if it has one; and the vehicle identification number if it has one or, if it has no vehicle identification number, the chassis number if it has one; and
(b) for each aircraft: the year of manufacture; the make and model; the class; the registration mark and nationality mark if it has them; and the serial number if it has one, each as they appear in the certificate of registration of that aircraft.
11.3 Please confirm that the pre-populated details are complete and meet the requirements set out in sections 36(1)(b) and 142 of the PPSA and Part 1 of Schedule 1 to the Personal Property Securities Regulations 2001 or provide us with any corrections or missing information.
11.4 We rely on you to ensure these details are correct and comply with the statutory requirements. Please tell us immediately if any details in a security agreement or financing statement need to be corrected.
Priority
11.5 In relation to any security agreement, please carry out searches on the PPSR of each customer and any collateral covered by the security agreement including any serialnumbered motor vehicle or aircraft referred to in the personalised instructions.
Please tell us immediately if you identify any financing statements that refer to the same collateral covered by our security interest and this isn’t expressly permitted by the documents or in your personalised instructions. We may ask you to arrange a financing change statement (as defined in the PPSA) to be registered to ensure we have priority over any other security interest in relation to secured property, as required by the instructions.
11.6 You must also ask the customer whether there are any:
(a) existing security interests which haven’t been expressly permitted in your personalised instructions (for example, a purchase money security interest (PMSI) that has become overdue);
(b) security interests, limitations, encumbrances, restrictions or easements which may affect the secured property; or
(c) other matters that may prejudice our ability to enforce rights under our security or expose us to increased obligations.
If your enquiries identify any such matters, you must tell us immediately. We may need you to advise us how these matters affect our security agreement.
11.7 Subject to your enquiry above, we permit the following security interests:
(a) In relation to any security agreement:
i. any lien or any other similar charge which arises by law; or
ii. a security interest in purchased property which the seller takes to secure the purchase price of that property; or
iii. a security interest under a true lease of goods, that secures obligations that result from a transaction in the ordinary course and for the purpose of its ordinary business and which are not overdue.
(b) Any security interest expressly stated as a permitted encumbrance in your personalised instructions.
Specific security agreements over shares
11.8 If the customer is granting security over shares, in addition to the above, you must ensure that:
(a) if the shares are listed, the Faster Identification Number is cancelled; or
(b) if the shares are unlisted, all share certificate(s) (or similar documentation denoting title) for the shares are provided to us. If there is no share certificate issued, please arrange for one to be issued and provided to us.

Solicitor’s certificate

12.1 You must complete the solicitor’s certificate, sign it and return it to us before we can advance any part of a loan to the borrower.
12.2 We understand that our ability to enforce any loan agreement, guarantee or security document is subject to New Zealand’s consumer protection, insolvency and other laws affecting creditor’s rights (whether under statute or otherwise). We agree that the confirmations given in your solicitor’s certificate are subject to those laws and general limits on our ability to enforce, so there’s no need to refer to this in your solicitor’s certificate. However, it you are aware of any specific circumstances that may affect our ability to enforce, please tell us immediately.
12.3 Please remember you cannot act for us or complete the solicitor’s certificate if you’re personally connected with the customer (this includes, but isn’t limited to, being a director, shareholder or non-independent trustee of the customer). In this case, please get a partner independent from the transaction to complete the solicitor’s certificate, whether from your firm or otherwise.
12.4 When completing the solicitor’s certificate you may assume (unless you know, or ought to know otherwise) that:
(a) documents you examine are authentic and complete;
(b) copies of documents you examine conform to the originals;
(c) signatures on documents are genuine;
(d) where the customer is a company:
i. its directors have acted for a proper purpose;
ii. entry into the transaction is in its best interest (or the best interests of its holding company if allowed by its constitution); and
iii. that no receiver, administrator, liquidator or statutory manager has been appointed.
12.5 Your solicitor’s certificate doesn’t certify as to the preprinted contents of the documents, except for the names and other details of the customers (including, in relation to any trust, the correct name of the trust and the names and other details of the trustees), details of any property and any details you insert in accordance with the instructions, each of which you must certify as true and correct.

Payment to your trust account

Please ensure that any loan advances paid to you for a specific purpose (as set out in the loan agreement) are, on or following settlement, applied for that purpose.

Overseas Investment Act 2005

14 .1 Our lending is conditional on the customer having any required consent under the Overseas Investment Act 2005.
14.2 Please check whether the lending or transaction to which the lending relates:
(a) requires any consents or approvals from the Overseas Investments Office; and
(b) if so, the customer has all required consents and/or approvals, or an exemption to these has been obtained.
14.3 In signing your solicitor’s certificate, you confirm to us that you’ve complied with sections 51A and 51C of the Overseas Investment Act before lodging the transfer instrument. You also agree that we’re relying on the solicitor’s certificate as confirmation that:
(a) if the statement given under section 51A indicated that consent was required, the borrower has confirmed that consent has been granted; and
(b) for these purposes, you’re not acting as our agent and won’t hold yourself out as our agent.

General legal information

New Zealand law applies to the instructions. Any references to laws are to New Zealand laws and include any replacements or amendments to those laws.

Glossary

borrower| each person identified as a borrower in the personalised instructions.
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CCCFA| Credit Contracts and Consumer Finance Act 2003.
customer| each person identified as a borrower or a guarantor in the personalised instructions.
document| each document listed under the subtitle “Documents” in the personalised instructions (including the loan agreement and any security documents), and our document entitled “Personal & Business Banking General Terms & Conditions”.
financing statement| a financing statement (as defined in the PPSA) required to be registered on the PPSR by the instructions, in relation to any security agreement.
general instructions| this document entitled “Solicitor Instructions –General Information”.
guarantee| any guarantee described in the personalised instructions.
guarantor| each person identified as a guarantor in the personalised instructions.
instructions| both these general instructions, your personalised instructions and any other written instructions from us to you in respect of the transaction.
loan| any loans that we’ve agreed to make available to the borrower, the details of which are set out in the borrower’s loan agreement(s) as set out in the personalised instructions.
loan agreement| In relation to:
(a)  home loan: the borrower’s Home Loan Summary, our Home Loan Terms & Conditions and our Personal Banking Fees & Limits brochure; or
(b)  business loan: the borrower’s Business Loan Agreement, our Business Banking Lending Terms & Conditions and our Business Banking Fees & Limits brochure.
mortgage| any mortgage described in the personalised instructions required by the  personalised instructions to be executed as part of the transaction.
personalised instructions| our personalised instruction letter to you detailing the specifics relating to the transaction for which you’re instructed.
personal property| “personal property” as defined in the PPSA.
PPSA| Personal Property Securities Act 1999.
property| the property subject to a mortgage as detailed in the personalised instructions.
secured property| any property or personal property subject to a security interest (including a mortgage) as detailed in a security document.
security agreement| any security agreement required by the personalised instructions to be executed as part of the transaction.
security document| any mortgage, security agreement or other document under which a security interest is granted, required by the personalised instructions to be executed as part of the transaction.
solicitor’s certificate| the solicitor’s certificate we require you to provide as part of the instructions.
transaction| the lending by us to the borrower(s) including the granting or amending of any guarantee or security in connection with that lending, as set out in the personalised instructions.
variation of mortgage| a variation of mortgage detailed in the personalised instructions.

Kiwibank Limited
Private Bag 39888
Wellington 5045
Kiwibank.co.nz
BR5308

References

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