Terms and Conditions Summary
- We agree to advance you the loan shown on the disclosure statement.
- You agree to make the required repayments to us.
- We will charge interest on the loan at the interest rate shown on the disclosure statement.
- The interest that you pay will not change during the term of the loan unless you are in default.
- You or the guarantor agree to give us security over specified property which belongs to you or the guarantor.
- At any time we may register a mortgage over any land which you have given as security.
- 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
- You can repay all or some of the loan early but if you do we may charge you a fee and administration costs.
- You may be required to take credit related insurance.
- You have agreed to appoint us to be your attorney to take action to enforce your obligations.
- If there is more than one borrower, each of you can be required to repay all the loan, fees and interest owing to us.
- 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.