Clients have a variety of repayment options set when the loan starts or on rollover -
R1 Repay the whole loan on 30 days notice and 1 month additional interest for each remaining year
RR Repay the whole loan on 30 days notice
RPR Right to make a full repayment (RR) and/or partial repayments (by multiple amounts of the minimum amount set in the loan documentation) on an interest payment date after giving written notice not less than one month before each repayment.
RPD Repay part or whole of the loan on 30 days notice when seeking a discharge of part of the security
If you have a current loan with ASL you can apply at any time to increase your credit or finance facility for the standard increase fee.
Whether a short or long term client at ASL you can switch securities, online through the Client Centre.
Credit and finance facilities are automatically extended on the same terms, or terms revised at your request at prevailing interest rates at a nominal rollover fee.
Clients with performing loans are eligible to reduced compliance fees when rolling over their finance or credit facility.