1. We agree to advance you the loan shown on the disclosure statement.
  2. You agree to make the required repayments to us.
  3. We will charge interest on the loan at the interest rate shown on the disclosure statement.
  4. The interest that you pay will not change during the term of the loan unless you are in default.
  5. You or the guarantor agree to give us security over specified property which belongs to you or the guarantor.
  6. At any time we may register a mortgage over any land which you have given as security.
  7. If you don’t make the required repayments as agreed (or comply with any of the other terms of the loan), we can:
    • request you pay the whole amount owing;
    • charge you penalty interest;
    • charge you fees; and
    • take possession of any vehicle or goods which you have given as security and sell it; and/or
    • conduct a mortgagee sale of any land which you have given as security for your debt
  8. You can repay all or some of the loan early but if you do we may charge you a fee and administration costs.
  9. You may be required to take credit related insurance.
  10. You have agreed to appoint us to be your attorney to take action to enforce your obligations.
  11. If there is more than one borrower, each of you can be required to repay all the loan, fees and interest owing to us.
  12. If you are a guarantor, you may be required to perform the obligations of the borrower.

Note: You should take time to consider the terms of the loan and you can get legal and budgeting advice before signing or speak to someone you trust.

Sample Loan agreement and Terms & Conditions