Annual Interest Rates
Below are indicative annual interest rates for our loans. NOTE: these are indicative only and rates on offer may be higher or lower depending on the individual circumstances.
7.95% to 10.95% for 1st Mortgages
A range of rates are given as the rate at which we will lend to you will depend on our assessment of the risk of lending to you. If you apply for a loan and we agree to lend to you then we will at that time disclose the actual interest rate at which we are willing to lend to you.
Credit Fees and Charges
Loan application fee, renewal and top up fee – price on application
$25 loan administration fee per month
$120 per hour per person for any property visit/client visit/meeting plus $0.82 per kilometre travelled plus any out of pocket expenses
$125 per hour for sundry loan administration plus actual costs (minimum $10)
Up to $375 administration fee1 on security discharge and/or loan revision together with lender’s solicitors costs
Default Fees and charges
The annual default interest is 9.95% above the annual interest rate. This default interest is calculated on the amount of the payment that you have missed.
Default fees1: Up to $125 per hour per creditor employee or contractor on a time and attendance basis for the management of any loan in default, plus any associated costs, plus up to $250 for a dishonoured payment/late payment or missed payment.
Before applying to us for a loan, please consider the above costs of borrowing and take time to read the Code of Responsible Borrowing found at www.familybudgeting.org.nz.
If you follow this Code then it will help us fulfil our duties to you as a responsible lender.