Maximum borrowing
To access Maximum borrowing quick tool, go to Quick Tools >> Home loan >> Add new and select Maximum borrowing from the dropdown list.
A. INPUTS
Add scenario name and add existing or a new client:
For new clients, please add the first name as a minimum. Other details can be added when creating a new deal from servicing scenario:
Add income for each applicant.
By expanding this section you can add more detailed income resulting in more accurate servicing calculation
Add household and expenses.
Expanding this category, more detailed expenses can be added resulting in more accurate servicing calculation and better mapping when saving scenario in a deal
Add the relevant security and required loan parameters details (including mupltiple loan splits if needed):
Add any other assets and liabilities as required:
B. RESULTS
Throughout the input process system will update the calculations, showing how many lenders on the panel are returning outputs.
View servicing information by clicking on 'Show results' button.
Results will show maximum borrowing amount (green if within required parameters); net surplus, DTI, NSR and policy summary for the inputs.
Add known discounts by clicking on "Edit rates" button:
Produce documents by clicking on "Quick actions" button.
To return to inputs, click on "Edit inputs" button.
To test possible future rate change, enter Edit rate figure (negative for reduced rate and positive for increased rate). Click 'Save" to save the scenario.
C. CREATE NEW DEAL
To create a new deal from Maximum borrowing quick tool, click on Quick actions >> Create new deal and select the destination workflow:
Complete any missing information and click "Save":
Scenario information transferred to the new deal will include personal information, income, expenses, assets & liabilities, security information and loan parameters.
D. EXPORTING EXCEL
*** NEW FUNCTIONALITY UNDER CONSTRUCTION ***
Product comparison
To access Product comparison quick tool, go to Quick Tools >> Home loan >> Add new and select Product comparison from the dropdown list.
Add scenario name, select all or individual lenders, enter loan amount and transaction type. Then click "Search" button.
Fields marked in red are mandatory to obtain result
The system will display products in a list. Click "+" to select the product for comparison or "arrow" to see product details.
Up to 4 products can be selected for comparison.
In the "Product Comparison" feature of Quick Tools, you cannot add the same product multiple times for comparison.
To return to inputs, click on "Edit inputs" button.
To download the product comparison document click "Recommend" and "Download document" button.
Finally, click "Save" to save the scenario.
Refinance analysis
To access Refinance analysis quick tool, go to Quick Tools >> Home loan >> Add new and select Refinance analysis from the dropdown list.
Add scenario name, click on "+" to add an existing liability and select the lender related to it from the drop down list or type the lender's name in the search field.
Also, add proposed loan details in the same way.
The system will then calculate the Refinance benefit:
To download the refinance analysis document click "Download document" button or click "Save" to save the scenario.
Funding worksheet
To access Funding worksheet quick tool, go to Quick Tools >> Home loan >> Add new and select Funding worksheet from the dropdown list.
A. FUNDS REQUIRED
Add scenario name, security state, post code, value, transaction type and other required fields (marked in red).
Click "Add security" button to add multiple securities if required.
B. FUNDS AVAILABLE
Add details such as proposed loan amount, deposit and/or savings.
The system will calculate base and total LVR %, Stamp duty, land transfer fees and mortgage registration fees.
Values can be edited by clicking edit checkbox
If First Home Buyer box is ticked, stamp duty will be $0
If LVR is between 80% and 95%, LMI will be calculated
Also, at the bottom of the page, in the Total Funds section, surplus will be marked in green and deficit in red.
To download the funding worksheet document click "Download document" button or click "Save" to save the scenario.