“Income” section show only the current position, i.e. any new/proposed income would not be captured under this section.

Note that it would still be accounted for the maximum borrowing calculation and it would also be used and visible on the “Summary” section, “Monthly financial position” table under the “Proposed position” and “Proposed position (buffer)” columns.

“Expenses” section show only the current position, i.e. any new/proposed expenses would not be captured under this section.

Note that they would still be accounted for the maximum borrowing calculation and they would also be used and visible on the “Summary” section, “Monthly financial position” table under the “Proposed position” and “Proposed position (buffer)” columns.

On the “Product search” tab, under the “Advanced products search”, user either needs to leave this selection empty/unselected or to select the “property type” with one of the following options:

• House and land

• Licensed builder construction

• Owner builed construction

Search scenario will further be filtered based on lenders' acceptance policy mainly related to Base and Total LVR, Tasnsaction type and Loan features.

• Under the “Expenses” section, user needs to add the applicants under the “Contacts” field so that every applicant is included in the household so that they system can use the attributed income for the maximum borrowing calculation.

• Under the “Liabilities” section, user needs to check “Loan term expiry date” and frequency for the “Repayment” fields, whether the entry has been completed correctly.

• Under the “Income” section, user needs to check the frequency for all entered income types as it can’t be left as “Select one”.

• Under the “Applicant” section, user needs to check whether the “post settlement address” has been added in order for the system to correctly calculate the HEM figure.

• Under the “Applicant” section, user needs to check the “Marital status” and “No. of dependants” in order to make sure that the applicants have been “linked” accordingly and that no. of dependants hasn’t been doubled accounted for.

Each home loan product has a strictly pre-defined base and total LVR value and the user needs to check whether the base and total LVR have been inputted correctly.

Either both parameters need to be the same, e.g. 60% or total LVR can be left blank.

Initially, LMI figure is being calculated and attributed only to the first split, however, user can easily click the “edit” checkbox and edit the LMI figure on the first split and add it accordingly to any other subsequent loan splits.

Lenders are using pre-defined parameters, e.g. $150,000 loan amount over the 25 years with P&I repayments in order to calculate the comparison rate.

In Salestrekker, comparison rate is being calculated based on the scenario parameters within the deal.

Under the “Compare products” section, “Total fees (C)” field calculates all the fees from the applicable product plus the LMI figure if it’s not being capitalised.

Purpose for this analysis is not to compare existing and proposed loans on $ for $ basis but to give perspective how would existing liability marked to be refinanced stack up against recommended scenario with current lenders' offers.

Given that any variances in loan parameters effect the calculated result the system counterbalance in the background two most important components, such as loan term and loan amount.

The reason behind this logic is that it is highly expected for existing loan to have shorter remaining term than proposed loan and comparing the costs or savings on loan repayments e.g. over 25 years for existing loan and 30 years for proposed loan would throw off the table any analysis.

For that purpose, loan term of any existing home loan liability marked to be refinanced is equalised to the proposed loan split #1 value. Depending on the scenario that value can be extended or cut shot for matching purposes. Adjustment is methodically applied to loan term component of the last repayment in the sequence until both, proposed and existing, have the exact same value. It could potentially totally shut down the Repayment #2 and/or Repayment #3 for calculating purposes based on the scenario.

It is similar problem with loan amount since proposed loan can, more often than not, contain some cashout and/or equity release component on top of the refinance amount, so again, comparing costs or savings of different loan values, e.g. $900,000 for existing refinancing loans and $1,000,000 for proposed loan, would not give required perspective.

The system levels up total proposed loan amount, with all splits included, with total outstanding balances of refinancing home loans. Adjustment is methodically applied to loan amount component of the last repayment in the sequence until both, proposed and existing, have the exact same value. Based on the scenario for the calculating purposes the system could potentially shut down any split outside of SPLIT #1.

Under the “Applicant” section, user needs to add the “post settlement address” in order for the system to correctly calculate the HEM value and then compare it with the declared living expenses.

Higher figure would then be used on the “Monthly financial position” table under the “Proposed postion (buffer)” column.

These repayments are being calculated by using the pre-defined buffer parameters which are shown on the “Compliance comments and documents” section under the “Monthly financial position” table (noted in blue).

These buffers are being set on the main organisation/broker tools/financial position buffers.