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 by clicking on 'Add applicant' button:
For new clients, please add the first name as a minimum. Other details can be added when creating a new deal from servicing scenario:
Expand Income section and click 'Add income' button to add income for each applicant.
By clicking on the 'eye icon' additional fields are shown which could be used for 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 details (including multiple loan splits if needed) and the system will display the number and the list of lenders that meet servicing criteria
In security details section the minimum requirement is to enter security value while address is not a mandatory field
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.
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:
From the Quick Actions button you can:
Create a new deal from the inputs
Download the inputs and results as a PDF document
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
To save this scenario as a PDF file (download to device) click on Quick Actions button and choose Download Document.
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 and input your search criteria.
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.
Next, clicking the Show Compared Products button will take you to the detailed comparison page, where you can analyse the options, edit the rates and fees and pick the recommended option.
In case you wish to go back to product search page and pick different products for comparison, click the "Edit Inputs" button.
To download the product comparison document as a PDF file to your device, click the '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 as a PDF file to your device, 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.