Terms of Business

Commercial Loans

Fees

Please note a documentation broker fee may be included in your application and will be reflected within the total loan value on your loan document.

Other Charges , Penalties and Fees

Please note the lender may impose additional charges, fees and penalties to your loan. The lender will disclose this information to you prior to drawdown of the loan. It is important you read any and all documentation provided by the lender and ensure you understand the terms and conditions as set by the lender when you sign your loan documentation.

Privacy

Please refer to our Terms of Business for a detailed breakdown on our privacy terms and conditions.

Please read our O’Connor Warren Finance Limited Terms of Business

Consumer Loans

Definition

A consumer loan is a loan whereby the asset is not principally used for business or investment purposes. Whether this is for a car, boat or motorbike, it is specifically intended for private use. You must inform us if you intend to use the asset for a business purpose as a consumer loan is not applicable for you. Instead, we must apply for a business loan on your behalf.

Interest Rates

Depending on the strength of the application, the interest rate will usually range from 7.5% to 14.0%. Each loan is determined on a case-by-case basis, dependent on the amount of lending, term of the loan, client credit history, risk profile and the deposit amount. Please note the rate reflected on the loan document is the retail rate but not the base rate. Included within your interest rate is a spread, which is the difference between the interest rate offered to O’Connor Warren Finance Limited (OWF) by the lender (the base rate) and the rate offered by OWF to you (the retail rate). This spread is considered a commission and the commission charged is determined based on the time and cost of handling your application. OWF is required to disclose this commission upon request.

Fees

Please note a broker documentation fee of $500 is included in your application and will be reflected within the total loan value on your loan document.