Schedule of Standard Fees and Charges applied to Consumer Contracts

Establishment / Approval / Account Maintenance

Establishment Fee $495 maximum
This is a fee for receiving and processing the loan application together with acceptance and establishment of the loan and is added to the loan contract when the loan is drawn.

Account Maintenance Fee $15
This fee is part of the loan instalment and is for the maintenance service provided per month.

The fee is charged at:
Loan instalment plus $15.00 per month

PPSR $8.05
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.

Caveat Fee $350 maximum fee
Where a loan is secured by a caveat / agreement to mortgage, we will register a caveat over the property, caveat registration and release costs will be charged to the loan to a maximum of $350.00 for each property.

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. NB: Upon settlement, costs may be incurred for the release of the mortgage.

Early Repayment Fee $50
Administration fee charged to the loan account when the account is settled early.

Modifications

Contract Variation (Security) $100
Fee is charged when the goods/security on the loan contract are to be changed or varied.

Collections

Default Letter fee $25

Dishonoured Payment Fee $5
Fee is charged to the loan account in the event of a payment tendered to the account is dishonoured by the Debtor’s bank.

Insurance Letter Fee $15
Fee is charged to the loan account in the event that the insurance company has notified East Bay Finance Ltd that the premium is pending.

SMS Charge $0.20c
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).

Phone Call $3
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 is in arrears.

Repossession Warning $50

Enforcement Notice $50
Fee is charged to a loan account when a Pre-repossession Notice or Enforcement Notice is issued. This is generally 9 days after a breach of terms (e.g. overdue instalments).

Repossession Warrant $80
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 repossessions.

Recovery Costs
Costs incurred by a third party (e.g. repossession agent, legal provider, repairer) will be charged to a loan account for the invoiced amount, copies of which are available upon request.

Formal Demand (Mortgage) $50
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.

Property Law Notice (Mortgage) $30
Fee is charged to the loan account when a serious breach of agreement has occurred (e.g. overdue instalments).

Insurance

The cost of insurance/waiver 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 proposal.

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