COST OF BORROWING
There have been a number of changes to the Credit Contracts and Consumer Finance Act 2003, which comes into effect beginning 1st May 2020.
This is called the Credit Contracts Legislation Amendment Act 2019 (CCLAA).
Therefore you will need to select the relevant tab of the cost of borrowing version/s you are looking to view below (either pre-amendment act or post-amendment act):
This section is for loans already entered into, BEFORE the 1st May 2020 (1/5/2020).
If you are looking to view the cost of borrowing prior to applying and today’s date is after 1/5/2020, please select the other section to find our current versions.
The fees, interest & costs applying to your loan and the rules applicable to them will be set out in detail in your loan agreement. They are also summarised on this page.
This section is for loans entered into, AFTER the 1st May 2020 (1/5/2020).
If you are looking to view the cost of borrowing before 1/5/2020, please select the other section to find our previous versions.
The fees, interest & costs applying to your loan and the rules applicable to them will be set out in detail in your loan agreement. They are also summarised on this page.