Loan/Variation Establishment and Documentation Fees


Loan Establishment Fee $465

A fee of up to $465 is charged for processing a loan application including taking the application, approval and acceptance. This fee is added to the contract when the loan is drawn down.

Refinance Establishment Fee $375

A fee of up to $375 is charged for processing an application to re-finance (including top up) the current loan contract including taking the application, approval and acceptance. This fee is added to the contract when the re-finance is effected.

Variation fee $135

A fee of up to $135 is charged when we process and document any changes you request to your current loan. This may include changing your repayment amounts and loan term.

Variation fee $200 – Security Swap 

A fee of up to $200 is charged if we agree to release our security interest in the goods secured as per your current loan and substitute it with a security interest over other goods.

Caveat Fee $399

When a caveat is registered over a property, caveat registration and release costs will be charged to the loan. This is a third party cost oncharged to the loan account when the loan is drawn down.

Valuation Fee

A fee of $35 will be charged to the loan to cover the cost of an independent valuation of the vehicle(s) to be used as security on the loan.

Third Party Fees

Some of these fees may be charged depending on your loan type. These are the cost of fees that are on charged for checks undertaken to provide you with a loan.

Third Party Fee Description Current Fee Supplier
PPSR Search B2B $1.15 MED
PPSR Debtor Search Manual Web Site $2.30 MED
PPSR Registration Plate Search Manual $2.30 MED
PPSR Registration B2B $8.05 MED
Credit Check Consumer B2B  $8.17 Equifax
Credit Check Consumer Manual $8.17 Equifax
Credit Check Commercial Manual $25.76 Equifax
Identity Check B2B  $2.65 Equifax
Identity Check Manual  $2.65 Equifax
Passport Check B2B $2.19 Equifax
Driver Check B2B $2.99 Motorweb
Driver Check Manual $1.55 NZTA
Car Registration Check  B2B  $0.29 Motorweb
Dealerzone Assett Check B2B $9.20 Dealerzone
Bank Statement Report 1.95 Illion
     
     

 

Loan Account Maintenance Fees


Monthly Facility Fee $7

A fee of $7 will be charged per month as long as the account balance is in debit to cover the administrative costs of keeping the loan account active.

Early Termination Fee $43

A fee of $43 will be charged to the loan account if the loan is settled in full before the final payment is due to cover the processing of the early settlement request, receipting the funds and closing the loan account.

Statement Fee $20

A fee of $20 will be charged to the loan account when an additional statement is requested and supplied (outside of the six monthly statements).

 

Default Fees


Dishonour Fee $8

A fee of $8 will be charged to the loan account if any scheduled payment is made late after the due date or is reversed or is not made.

Reminder Fee $21

A fee of $21 will be charged to the loan account whenever a notice is sent when the loan account has been in arrears five (5) days or more.

Repossession Warning Notice Fee $34

A fee of $34 will be charged to the loan account whenever a notice is sent advising of the intention to seize consumer goods that are security for the loan.

Repossession Fee (Day 31) $85

A fee of $85 will be charged to the loan account whenever the loan account enters the stage of Repossession.

Repossession Warrant Fee $247

A fee of $247 will be charged to the loan account when it is necessary to issue a Repossession Warrant.

Post Possession Notice Fee $99

A fee of $99 will be charged to the loan account whenever a notice is sent following the seizure of consumer goods that are used as security on the loan.

Post Possession Fee (Court Seized Vehicle) $96

A fee of up to $96 is charged if we are advised of your vehicle being seized by the Courts and we are advised by Courts to recover security.

Notice of Intent to Dispose Fee $101

A fee of $101 will be charged to the loan account whenever a notice is issued to advise intent to dispose of the goods that have been seized.

Statement of Account After Sale Fee $111

A fee of $111 will be charged to the loan account when a Statement of Account After Sale is issued following the sale of the consumer goods that have been sold.

Recovery Costs

Costs incurred by a third party (eg. Repossession Agent, Legal Provider, Repairer) will be charged to the loan account for the amount invoiced by the third party. Copies of such invoices are available upon request.


These fees and charges (current at 1st September 2019)  apply to consumer contracts with Future Finance Limited.

 

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