Fees and Charges

Schedule of Standard Fees and Charges

Vehicle and Personal Finance


Interest Rates

Our interest rates range between 7.95%pa to 17.95%pa. The interest rate that is applicable to you is is assessed by taking into account your credit history, stability in employment & residence, asset backing, affordability and security valued offered.

Loan Establishment Fee $165

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

Direct Costs

These are costs that have been incurred for services that relate directly to the approval of the loan advance:

  • PPSR lodgement $8.05
  • PPSR search $1.15 per search
  • Credit check $3.10 per search
  • Ministry of Justice $0.40 per search
  • Verification of ID $2.30 per search
  • Motor check $0.18 per search
  • Driver check $0.16 per search

Account Maintenance Fee $4

This fee is part of the loan installment and is for the maintenance service provided. This fee charge is $4 per loan per month.

Assignment Fee $165

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 your loan is secured by a caveat/agreement to mortgage, we will register a caveat over the property. Caveat registration costs will be charged to your loan to a maximum of $322 for each property. NB. Upon settlement, costs may be incurred for the release of the caveat.

Mortgage Fee

For 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 Costs

If 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 $15

An administration fee charged to your loan account when the account is settled early.

Settlement Loss Fee

A variable fee to cover any loss derived from breaking the funding associated with your loan.

Modifications Fee $65

Applied for variations or modifications to your loan contract. This fee is charged when a loan is varied due to amount, term, payment structure or security.

Direct Debit Modifications Fee $10

Fee charges for amending an existing direct debit payment.

COLLECTIONS

Default Interest Charge

Also known as penalty interest, is calculated at the rate of the annual interest rate, plus 5 percent in respect of the amount of the default while the default continues.

Dishonoured Payment Fee $10

Charged to your loan in the event of a payment tendered to the account is dishonoured by the debtor’s bank.

Insurance Letter Fee $10

Fee is charged to the loan account in the event that the insurance company has notified Oxford Finance the the premium is pending.

Reminder Letter $10

Fee is charged to the loan account where you have been advised that a payment has been missed or is overdue.

Repossession Warning Notice $15

Charged to your loan account when a repossession warning notice is issued. This is generally 9 days after a breach of terms (E.g. Overdue instalments).

Phone Call $3

Charged to your loan account when a Credit Controller is attempting to contact you regarding overdue amounts on your loan account where your loan account has been in arrears for more than 10 days.

SMS (text message) Charge $0.25

Charged to your loan account when we are attempting to contact you by SMS message service after a breach of agreement has occurred (E.g. Overdue instalments).

Repossession Authority $50

Charged to your loan account when it is necessary to issue repossession authority as a result of a serious default (E.g. Overdue instalments). This amount along with the arrears and any agent costs due and payable immediately to avoid repossession.

Recovery Costs

Incurred by a third party, (E.g. Repossession agent, legal provider, repairer) will be charged to your loan account for the invoiced amount, copies of which are available upon request.

Formal Demand (mortgage) $90

Charged to your loan account for a demand issued when your loan account has a serious breach of agreement. A formal demand is issued prior to a Property Law Notice.

Property Law Notice (mortgage) $130

Charged to your loan account when a serious breach of agreement has occurred (E.g. Overdue instalments).

Post-repossession Notice $25

Issued within 14 days of the takin of good by the creditor. This fee is for the issue of the post-repossession notice and will be charged to your loan account.

Statement of Account After Sale $40

Charged to your loan account following production and service of this notice after the sale of goods within 7 days of the sale being affected.

Insurance

The cost of insurance cover for Mechanical Breakdown Insurance, Payment Protection Insurance, Guaranteed Asset Protection and Car Insurance may be included on your loan. The premium financed will be paid to the relevant insurance company and provide insurance cover for the period stated in each insurance policy.

Business Finance


Application Fee

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

Light and commercial vehicles up to $25,000:

  • Fee range $250 - $400

All other business loans:

  • Up to $50,000 $750
  • $50,000 - $100,000 $1,000
  • $100,000+ 1%

Interest Rates

Our interest rates range between 7.95%pa to 17.95%pa. The interest rate that is applicable to you is is assessed by taking into account your credit history, stability in employment & residence, asset backing, affordability and security valued offered.

Account Maintenance fee $4

This fee is part of the loan instalment and is for the maintenance service provided. This fee charge is $4 per loan per month.

PPSR $8.05 (per item of security with the exception of mortgage caveats)

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

Assignment Fee $200

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 your loan to a maximum of $322 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 your loan to a maximum of $386 for each property.

Early Repayment Fee

Charged to your loan account when the account is settled early. NB. A charge of three months interest can also be charged in the event of settlement prior to the maturity date of your loan.

Modifications:

Contract Variation (security) $75

Charged when the goods/security on your loan contract are changed.

Contract Variation (term or amount) $75

Charged when the term or amount on your loan contract are changed.

COLLECTIONS

Dishonoured Payment fee $10

Charged to your loan account in the event of a payment tendered to your account is dishonoured by the debtors bank.

Pre-possession Letter $50

Charged to your loan account when a pre-possession notice is issued. This is generally 12-15 days after a breach of terms (E.g. Overdue instalments).

SMS (text message) or Email Charge $2

Charged to your loan account where we are attempting to contact by SMS message service or email after a breach of agreement has occurred (E.g. Overdue instalments).

Phone Call $3

Charged to your loan account where we are trying to contact you regarding overdue amounts on your loan account where a loan account has been in arrears more than 10 days.

Repossession Order $100

Charged to your loan account when it is necessary to issue a repossession warrant as a result of a serious default (E.g. Overdue instalments). This amount along with the arrears and any agent costs are due and payable immediately to avoid repossession.

Recovery Costs

Incurred by a third party (E.g. Repossession agent, legal provider, repairer) will be charged to your loan account for the invoiced amount. Copies of which are available upon request.

Formal Demand (mortgage) $30

Charged to your loan account for a demand issued when your loan account has a serious breach of agreement. A formal demand is issued prior to a property law notice.

Property Law Notice (mortgage) $200

Charged to your loan account when a serious breach of agreement has occurred (E.g. Overdue instalments).

Post-repossession Notice $50

Issued within 14 days of the takin of good by the creditor. This fee is for the issue of the post-repossession notice and will be charged to your loan account.

Statement of Account After Sale $85

Charged to your loan account following production and service of tis notice after the sale of goods within 10 days of the sale being affected.

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