Schedule of Standard Fees and Charges Applied to Consumer Contracts
INTEREST RATE – 12.9% to 19.9%
Application / Approval / Account Maintenance
Establishment Fee A fee of up to $350.00 is charged for processing a new loan application, including approval and acceptance and added to the contract when the loan is actually drawn.
PPSR Search $1.73 per search charged to the contract when drawn for searching the Personal Property Security Register to ensure the goods used for security are not secured to another company.
PPSR Registration $11.50 charged to the contract when drawn for registration of our security with the Personal Property Security Register.
PPSR Renewal $11.50 debited to a loan account when renewing Personal Property Security Registration. (Security is valid for 5 years from date of registration)
Motochek $0.18 per check charged to the contract when drawn to ensure all vehicles being secured are warranted and registered.
Driver Licence Verification $3.91 per verification charged to the contract when drawn for ensuring the driver licence is current.
Administration Fee $9.00 per month charged to the contract on the last day of each month.
Settlement A fee of up to $50.00 may be debited to the account when a loan is settled in full before its final payment date.
Contract Variation – Substitution of Security $10.00 charged when the goods on the contract are to be changed.
Dishonoured Payment $20.00 may be debited to a loan account in the event of a payment tendered to an account is dishonoured by the client’s bank.
Reminder Letter $5.00 debited to a loan account when a Reminder Letter is issued. This is 4 days after a breach of terms (eg. Overdue instalments).
Repossession Warning Notice $10.00 debited to loan account when a Repossession Warning Notice is issued. This is 12-15 days after a breach of terms (eg. Overdue instalments).
Courier Letter $10.00 + $5.00 Letter Fee debited to a loan account when a Repossession Warrant is issued and sent by Courier to the client giving them one day to make contact with Credit House Finance Ltd.
Repossession Warrant $25.00 debited to a loan account when it is necessary to issue a Repossession Warrant as a result of serious default (eg. Overdue instalments). This amount along with the arrears and any agent’s 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 debited to a loan account for the invoiced amount, copies of which are available upon request.