Home > Personal Finance > Fees Schedule and Interest
Account Maintenance Fee $5This fee is part of the loan instalment and is for the maintenance service provided. The fee charged is $5 per month. |
Account Fee $250This 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 FeeWhere 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 caveat. |
Mortgage FeeFor any loan where we register a mortgage over a property, mortgage registration costs will be charged to the loan on invoice from the solicitor for each property. NB: Upon settlement, costs may be incurred for the release of the mortgage. |
Legal CostsIf the structure of your loan or financing is such that we require solicitors to prepare any documentation or advice, you will be responsible for the reasonable legal costs of the legal work undertaken. |
Early Repayment Fee $19$19.00 administration fee charged to the loan account when the account is settled early. |
Settlement Loss FeeA variable fee to cover any loss derived from breaking the funding associated with your loan. (As described in the disclosure statement and credit contract) |
Modifications $70$70 fee is applied for Variations or Modifications to the loan contract. Fee is charged when a loan is varied due to amount, term, payment structure or security. |
Default Interest ChargeDefault interest (also known as Penalty Interest) is calculated at the rate of the Annual Interest rate plus 10% in respect of the amount of the default while the default continues |
Dishonoured Payment Fee $10Fee is charged to the loan account in the event of a payment tendered to the account is dishonored by the Debtor’s bank |
Repossession Warning Notice $20Fee is charged to a loan account when a Repossession Warning Notice is issued. This is generally 9 days after a breach of terms (e.g. overdue installments). |
SMS Charge $0.25cFee 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). |
Repossession Authority $50Fee is charged to the loan account when it is necessary to issue a Repossession Authority 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 CostsCosts 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) $45Fee 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) $130Fee is charged to the loan account when a serious breach of agreement has occurred (e.g. overdue installments). |
Post-Repossession Notice $30A Post Repossession Notice is issued within 14 days of the taking of goods by the Creditor. Fee for the issue of Post Repossession Notice will be charged to the loan account. |
Statement of Account After Sale $44Fee is charged to the loan account following production and service of this notice after sale of goods within 7 days of the sale being affected. |
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