I have a Dividend Finance loan for my renovation, and I noticed an extra fee on my latest statement. What might be the reason?

If you've come across an additional charge on your most recent Dividend Finance loan statement, there could be a few possible explanations for it:

One possible reason for this is a late payment fee, which is charged when a payment deadline specified in your loan agreement is missed. The fee is usually mentioned in your loan documents and will be included in your statement if it applies to you.

Another option could be an origination fee, although it is not as frequently seen with renovation loans. Origination fees are typically charged upfront to cover the processing costs of the loan. It's important to carefully examine your loan documents to verify whether this fee was included in your loan terms.

Although Dividend Finance typically does not charge prepayment penalties for paying off your loan early, it is advisable to review your loan agreement to confirm this. In addition, in the event that your payment leads to insufficient funds, your bank may impose a non-sufficient funds (NSF) fee. This fee will be reflected on your statement, but it is important to note that it is not directly associated with Dividend Finance.

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