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The company offered services to prospective home buyers who found it difficult to save for a deposit or qualify for bank finance, the Commerce Commission said. “It claimed to operate a savings scheme which could assist customers to purchase a home with a deposit as low as 5 per cent. However, customers’ payments were not paid into or treated as being in any form of savings scheme,” said commission chair Anna Rawlings. The contracts that customers entered into were for a brokerage and financial coaching service. Between February 2015 and April 2017 HFG received $316,361 from 149 customers, who typically paid $50-$100 per week. “The claims made by HFG induced consumers to make regular payments to HFG in the belief they were putting money towards a house deposit. They were not,” Rawlings said.

New zealandNew zealand generalLuke steven atkinsImran mohammed kamalAnna rawlingsOlga atkinsFair trading act at auckland district courtHome funding groupCommerce commissionWelcome home foundationFunding groupFair trading actAuckland districtJudge bouchierWelcome homeபுதியது ஜீலாந்து