Our complaints procedure may be initiated by telephone, email, via our website or in writing. Our Contact details are as follows: Loan Direct Limited PO Box 28231 Remuera Auckland 1050 Phone (09) 950 7420 or 0800 323 130 Email email@example.com Website loandirect.co.nz If we can’t resolve your issue immediately here is how it will be dealt with:
- If you have made your complaint verbally or via our website, we will acknowledge your complaint immediately. If you have made your complaint in writing we will acknowledge it within 5 working days of receiving it.
- We aim to have your complaint resolved within 5 days and will email or write to you outlining the resolution. If we are unable to resolve your complaint within 5 working days we aim to resolve it within 20 working days.
- In the event that we can’t resolve your complaint within 20 working days, we will write to you advising you why we require more time to resolve your complaint.
We are a member of an approved dispute resolution scheme. If you are not satisfied by the Lender’s response, you may refer the matter to – Financial Services Complaints Limited (‘FSCL’) Contact details for FSCL are: FSCL PO Box 5967 Wellington 6145 Phone (04) 472 3725 or 0800 347 257 Email firstname.lastname@example.org
- Schedule of Standard Fees and Charges Applied to Consumer Contracts Establishment / Approval / Account Maintenance Establishment Fee 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. Establishment Fees applied to new loans are as follows: $1000 – $2499 No more than $295 $2500 – $4999 No more than $395 $5000 – $7499 No more than $495 $7500 – $9999 No more than $595 $10,000 or more No more than $695
- 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 is no more than $3.50 per week.
- PPSR $10 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 $300 maximum fee Where a loan is secured by a caveat/agreement to the mortgage we will register a caveat over the property, caveat registration and release costs will be charged to the loan to a maximum of $300.00 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 an 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.
- Loss Compensation Due To Early Repayment You may be required to pay a fee or charge to compensate the lender for any loss resulting from the full prepayment. Please refer to the FULL PREPAYMENT clause on page 4.
- Modifications Contract Variation (Security) $100 Fee is charged when the goods/security on the loan contract are to be changed or varied. Default Fee’s If your loan falls into arrears you will be charged the following Default Fees: Arrears less than $500 $5 P/Week Arrears more than $500 but less than $1000 $10 P/Week Arrears greater than $1000 $15 P/Week
- 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.
- Repossession Warning Notice $25 Fee is charged to a loan account when a Repossession Warning Notice is issued.
- Repossession Warrant $25 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 CostsCosts 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) $100 Fee is charged to a loan account for a Demand issued when the loan account has a serious breach of the agreement. Formal demand is issued prior to a Property Law Notice.
- Property Law Notice (Mortgage) Fee is charged to the loan account when a serious breach of the agreement has occurred (e.g. overdue instalments). This amount will be the amount of the invoice from our solicitor.
- 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.
We do not offer Short Term loans, all Loan Direct loans are for terms of six to sixty months.
Our current interest rates range from 8.95% APR (Annual Percentage Rate) to a maximum APR (Annual Percentage Rate) of 29.95%. The rate offered will depend upon your credit history, security offered and your overall credit profile, all rates are fixed for the term of the agreement.