Summary

Key function of a Summary tab is to visually present all the important details of a deal, clients' information and their financial position, security details, recommended product and proposed loan amortisation.

Being the last of many steps before application lodgement - it offers a chance to the user to capture the overall impact of a deal on the clients and their financial situation.

On the top of the page, users are able to see different graphs and indicators based on the information previously entered in a deal:

First graph shows Net Asset Position. It consists of:

Total assets - all current assets values (not being sold) and assets being purchased;

Total liabilities - sum of balance or limit (whichever is higher) of current liabilities (not being refinanced and the ones not linked to properties being sold) and proposed loans;

Net asset position - difference between total assets and total liabilities values;

Second graph shows Monthly cash financial position:

Net monthly income - represents a value calculated under Proposed position for Net income - presented on Compliance comments and documents screen (previous tab);

Total outgoings - sum value of Total current repayment, Total proposed repayment and Total current expenses listed in the Compliance comments and documents screen;

Net cash position - difference between Net monthly income and Total outgoings field;

Next one is LVR graph - it represents a ratio between proposed loan amount (plus existing loan balance and other loans against security - if any) and a security value. Graph also shows proposed loan value and remaining equity;

On a right hand side, users can see:

Financial risk indicator - scale that shows different results (low, medium or high) based on the information collected through clients' responses in Needs and objectives section;

Financial stress indicator - this indicator shows different results (low, medium or high) based on the values calculated in the Proposed position (buffer) - a section in the Compliance comments and documents screen:

Low – more or equal to $1,000,

Medium – from $1 to $999,

High – from and below $0;

HEM variance - indicator calculates and shows the result by comparing Global HEM values and declared living expenses (within HEM) in the Expenses Section. Result is represented as a negative figure only as Global HEM values are higher than declared living expenses. In other instances, result will be shown as a $0;

Debt to income ratio (DTI) - represents a total balance or limit (whichever is higher) of all existing liabilities (not being refinanced and the ones that not linked to the properties being sold) and proposed loans/debts divided by total existing and proposed income on an annual basis. The only liability excluded from this equation is the Student loan debt;

Below the graphs there are Products compared counter and a Word Counter;

By scrolling further to the middle of a page, users are able to see all clients' contact details such as Name, Phone, Email and Address. This includes all client type contacts from a Deal: Client, Security guarantor, Servicing guarantor and Non-borrowing spouse:

Next is Monthly financial position - Data shown in this section reflects clients' Current position, Proposed position and Proposed position (buffer) - which is entered in a dedicated section in the Compliance comments and documents tab (previous step);

Users also can see Security details such as address, value, zoning and ownership type. All securities added in Security details tab can be seen in this section;

Loan recommended product details reflect proposed lender and product name, loan amount and term, interest rate and revert rate;

Finally, on a page bottom users can see Loan Amortisation - it is represented as a chart that shows exactly how the total loan amount decreases over the proposed loan term:

Users are also able to download the latest version a of lender's servicing calculator.

It is located on a right-hand side next to Loan recommended product: