Schedule of Standard Fees and Charges Applied to Consumer Contracts
These fees and charges (current as at 1st August 2018) apply to consumer contracts with Credit House Finance Limited
INTEREST RATE – Up 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 $1.15 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 $8.05 charged to the contract when drawn for registration of our security with the Personal Property Security Register.
PPSR Renewal $8.05 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 $1.78 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.