Schedule of Standard Fees and Charges applied to Commercial Contracts

Application / Approval / Account Maintenance | Collections
 

Application / Approval / Account Maintenance

 

Application Fee

This is a fee for receiving and processing the loan applications together with acceptance and establishment of the loan and is added to the loan contract when the loan is drawn.
 

Light commercial and vehicles up to $25,000:

Fee range $250-$400
All other commercial loans:
Up to $50,000                 $750
$50,000 - $100,000        $1,000
$100,000 +                         1%
 

Account Maintenance Fee

This fee is part of the loan installment and is for the maintenance service provided.
 

The fee is charged at:

Monthly Loan Installment $4.00 per month
 

PPSR $8.05 (effective 01/07/17) per item of security with the exception of mortgages or caveats

This fee is charged to the loan contract when drawn for the cost of lodging security and releasing security when the contract has been completed.
 

Assignment Fee $500.00

This fee is charged when assigning a contract from one Debtor(s) and/or Guarantor(s) name to another Debtor(s) and/or Guarantor(s) name.
 

Caveat Fee

Where a loan is secured by a caveat / agreement to mortgage we will register a caveat over the property, caveat registration costs will be charged to the loan to a maximum of $322.00 for each property.
 
NB: Upon settlement, costs may be incurred for the release of the mortgage.
 

Mortgage Fee

For any loan where we register a mortgage over a property, mortgage registration costs will be charged to the loan to a maximum of $386.00 for each property.
 
Early Repayment Fee $30
Administration fee charged to the loan account when the account is settled early.
 
NB: A charge of 3 months Interest can also be charged on the event of settlement prior to the maturity date of the loan.
 

Modifications

Contract Variation (Security) $75.00
Fee is charged when the goods/security on the loan contract are changed.
 
Contract Variation (Term or Amount) $75.00
Fee is charged when the term or amount on the loan contract are changed.
 

Collections

 

Dishonoured Payment Fee $10.00

Fee is charged to the loan account in the event of a payment tendered to the account is dishonoured by the Debtor’s bank.
 

Pre-Possession Letter $50.00

Fee is charged to a loan account when a Prepossession Notice is issued. This is generally 12-15 days after a breach of terms (e.g. overdue installments).
 

SMS/Email Charge $2.00

Fee is charged to the loan account where we are attempting to contact the client by SMS message service after a breach of agreement has occurred (e.g. overdue installments).
 

Phone Call $3.00

Fee is charged to the loan account where a Credit Controller is attempting to contact the Debtor regarding overdue amounts on the loan account where the loan account has been in arrears more than 10 days.
 

Repossession Order $100.00

Fee charged to the loan account when it is necessary to issue a Repossession Warrant as a result of a serious default (e.g. overdue installments). This amount along with the arrears and any agent costs are due and payable immediately to avoid repossession.
 

Recovery Costs

Costs incurred by a third party (e.g. repossession agent, legal provider, repairer) will be charged to a loan account for the invoiced amount, copies of which are available upon request.
 

Formal Demand (Mortgage) $30.00

Fee is charged to a loan account for a Demand issued when the loan account has a serious breach of agreement. Formal demand is issued prior to a Property Law Notice.
 

Property Law Notice (Mortgage) $200.00

Fee is charged to the loan account when a serious breach of agreement has occurred (e.g. overdue installments).
 

Post-Possession Notice $50.00

A Post possession Notice is issued within 21 days of the taking of goods by the Creditor. Fee for the issue of Post possession Notice will be charged to the loan account.
 

Statement of Account After Sale $85.00

Fee is charged to the loan account following production and service of this notice after sale of goods within 10 days of the sale being affected
 

Interest Rates

Oxford Finance offers loans to customers at a range of interest rates between 12.95% to 25.95%. The interest rate that is applicable to the particular client is assessed by taking into account the clients credit history, stability in employment and residence, asset backing, affordability and security value offered.
 
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