Personal Loan Interest Rates - Personal Loan Fees | Pioneer Finance

Credit Fees and Charges

Loan Establishment Fee

This covers the cost of processing and approving and documenting and securing a new or refinance loan.
Pioneer’s establishment fee is calculated based on the work involved and administration costs in processing your
loan. Complex Loan Applications include those for debt consolidation, and/or with a lower or impaired credit
rating requiring more scrutiny, and/or with a complex or non-standard security requirement.
• Standard Loan $195
• Complex Loan $375

Loan Administration Fee

$9.00 per month to cover the administration of a loan and processing payments

Caveat registration fee:

Currently $190*

Loan Restructure/ Variation Fee

$90.00 – Charged when an existing loan is restructured or varied for any reason including because of a successful
hardship application (we don’t charge for the application itself).

Broker Fee (as incurred):

$100 to $2,500
Charged by your broker, with a maximum fee of 5% of the Initial Unpaid Balance, capped at $2,500.
Payable to the Broker / Introducer under a separate agreement solely between you and the Broker. We
collect and remit the fee to the Broker on your behalf as your payment agent.

Release of caveat or mortgage over real property:

Currently $190* per caveat or mortgage
Charged when we register a withdrawal of the caveat or discharge of the mortgage.

Mortgage Registration Fee:

$750 or third party charge*
Charged when we register a mortgage against any secured Land, which may occur before or after the
loan is provided to you. If a caveat is registered, this will be released at the same time as the mortgage is
registered and the applicable fee for the caveat release will also be payable in addition to the mortgage
registration fee. The fee is subject to you signing any documents required for us to register the mortgage
promptly on request by us. If you fail to sign documents required for any registration promptly on request,
and/or we are required to rely on our power of attorney, this could result in the registration fee being

Other Credit Fees:

All other reasonable costs and expenses we incur relating to or in connection with this Agreement (or any security
interest or mortgage granted under this Agreement) that is currently unknown to us, including those listed in
clause 4 of the Terms and Conditions of the Agreement (but excluding default fees, which are set out separately
below). This may include our costs and expenses (including third party costs) in relation to the preparation,
signing, registration, administration, variation, release and discharge, and our consent relating to any change of
this agreement or any mortgage of land, or security interest in Personal Property that you grant us (to the extent
those costs and expenses are not covered by any of the above credit fees).

*Our registration fees set out above are subject to third party costs incurred by us for the registration or release
of registration, which may be varied by the third party from time to time. The relevant fee will be equal to the total
amount of the LINZ registration and title/instrument fees payable and the third-party fee incurred by us for the
engaged third party provider to register or release the caveat or mortgage (or any release of it) on our behalf.
Copies of invoices from third parties are available on request.

Full Prepayment
If you pay the unpaid balance in full before the final payment is due you must also pay any legal and other thirdparty
costs incurred, including break costs we incur from our funders and any costs we incur in providing a
discharge or release of any security held. We do not charge for our loss (except break costs we incur) on full

Default Fees

What could happen if you fail to meet your commitments (ie you Default):
If you do not pay all of the instalments as set out above (in the Payments section of this disclosure statement) on
the due date payable:
• The loan will not be repaid on the last payment date referred to above;
• You will be charged default fees and default interest; and
• We may exercise our rights in relation to any security you have granted us, as set out in the Grant of
Security Interests section above.
Default Interest
In the event of a default in payment or late payment of any payment due and while the default continues you must
pay the default interest charges. Default interest is 5% per annum more than the annual interest rate, charged on
the amount in default from the time that you fall into financial default until you are no longer in financial default,
and calculated by multiplying the amount in default at the end of each day by the daily default interest rate. The
daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is
charged to your account monthly. If we obtain a judgment against you, you must continue to pay default interest
on the judgment sum until that sum is paid in full.


Default Fees

Communication Fee

$6.00 per attempt – Charged each time we attempt to communicate with you by telephone, fax, email, text, or write to you about a missed payment, arrears, or defaults.

Dishonour Fee

$6.00 – Charged each time a payment is missed, dishonoured, or reversed.

Repossession Warning Notice:

$35 – Added to the unpaid balance when we issue a repossession warning notice.

Seizure Warrant:

$70 – Added to the unpaid balance for preparing repossession documents & instructing an agent

Issue of Property Law Act Notice:

$150 – Added to the unpaid balance after we issue a default notice in accordance with the Property Law
Act 2007

Other Third-Party Charges:

The costs to us of Court or Disputes Tribunal proceedings and, repossession and sale of Secured Property
(including any mortgaged land) and all other reasonable costs and expenses we incur relating to or in connection
with any act or attempted act to exercise or enforce or protect any right or remedy we have under this
Agreement. These include filing fees, actual solicitors’ fees and disbursements (assessed on a solicitor client
basis) and debt collection agency commissions, fees and disbursements. Additionally, you must pay us the costs
and disbursements of repossession agents, valuers, real estate agents, auctioneers, process servers, solicitors
and any of our agents or other third parties, used in enforcing (or attempting to enforce) the Agreement. You must
also pay the cost of any dealings (we have while you are in default) with other persons with respect to the debt or
any security you (may) provide. In addition, you must pay the cost of us (or anyone instructed by us) doing
anything you have agreed but failed to do, which we have then had to reasonably do. You must also pay for the
costs, expenses and other liabilities listed in clause 4 of the Terms and Conditions arising out of your default.