Oxford Finance

These fees are effective from 8 May 2018.

Application / Approval / Account Maintenance   

 Fee  Description Amount 
Application Fee

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

Light commercial and vehicles up to $25,000, fee ranges from $250 - 400. All other commerical loans: Up to $50,000 is $750. $50,000-$100,000 is $1,000. $100,000 or more, 1%.

Varies
Account Maintenance Fee

This fee is part of the loan instalment and is for the maintenance service provided. The fee is charged at Monthly Loan Installment.

 $4.00
PPSR This fee is charged to the loan contract when drawn for the cost of lodging security and releasing security when the contract has been completed. (Charge per item of security with the exception of mortgages or caveats)  $8.05 per item
Assignment Fee

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.

 $500.00
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 the loan to a maximum of $322.00 for each property.
NB: Upon settlement, costs may be incurred for the release of the caveat.
 $322.00
Mortgage Fees

For any loan where we register a mortgage over a property, mortgage registration costs will be charged to the loan to a maximum of $386.00 for each property.

Early Repayment Fee  Administration fee charged to the loan account when the account is settled early.
NB: A charge of 3 months Interest can also be charged on the event of settlement prior to the maturity date of the loan.
 $30.00
 Modifications  
Contract Variation (Security)  Fee is charged when the goods/security on the loan contract are to be changed.  $75.00
Contract Variation (Term or Amount) Fee is charged when the term or amount on the loan contract are changed. $75.00
 Collections  
Dishonoured Payment Fee  Fee is charged to the loan account in the event of a payment tendered to the account is dishonoured by the Debtor’s bank.  $10.00
Pre-Possession Letter  Fee is charged to a loan account when a Prepossession Notice is issued. This is generally 12-15 days after a breach of terms (e.g. overdue instalments).  $50.00
SMS/Email Charge  Fee 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 instalments).  $2.00
Phone Call  Fee is charged to the loan account where a Credit Controller is attempting to contact the Debtor regarding overdue amounts on the loan account where the loan account has been in arrears more than 10 days.  $3.00
Repossession Order  Fee is charged to the 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.  $100.00
Recovery Costs  Costs incurred by a third party (e.g. repossession agent, legal provider on a solicitor-client basis, repairer) will be charged to a loan account for the invoiced amount, copies of which are available upon request.  
Formal Demand (Mortgage)  Fee 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.  $30.00
Property Law Notice (Mortgage)  Fee is charged to the loan account when a serious breach of agreement has occurred (e.g. overdue instalments).  $200.00
Post-Possession Notice  A Post possession Notice is issued within 21 days of the taking of goods by the Creditor. Fee for the issue of Post possession Notice will be charged to the loan account.  $50.00 
Statement of Account After Sale  Fee is charged to the loan account following production and service of this notice after sale of goods within 10 days of the sale being effected.  $85.00
 Insurance  The cost of insurance cover for Loan Repayment Insurance, Motor Vehicle Insurance, Mechanical Breakdown Insurance and Accidental Death Insurance may be included in the loan. The premium financed will be paid to the relevant insurance company and provide insurance cover for the period stated in each insurance policy.  

Interest Rates

Oxford Finance offers loans to customers at a range of interest rates between 12.95% to 25.95%. The interest rate that is applicable to the particular client is assessed by taking into account the clients credit history, stability in employment and residence, asset backing, affordability and security value offered.