Refinance tab is visible in Broker Tools when the loan purpose set in funding sheet is Refinance or Equity Release.

The process is as follows:

To edit any locked fields turn the Edit switch (X1) to 'ON'.

Left-hand column

  • Ensure total outstanding balance (X2) is correct. This is amount being refinanced.

  • Add any additional funds required (X3) (Equity Release).

  • Add Estimated exit fees (A)

  • Add Estimated entry fees (B). (A + B) amount will be once off cost of refinancing.

Right-hand column

  • Check and adjust if needed current (X4) and proposed (X5) interest rates.

  • Set the Current loan term (X6). Note - actual remaining loan term for current loan will result in highest repayment rate.

  • Edit Cashback field (X7) if necessary and add any cashbacks/deposits applicable

  • Add Annual ongoing fees (G) to see annual refinance benefit.

Additional repayment benefit

  • If clients intend to repay additional figure (on top of their repayment), add Additional monthly repayment amount (X8) and present additional savings.

Printing Refinance analysis

To print refinance analysis and send to the client, go to Summary tab and click on 'Create Documents' button. If Refinance template is saved, document can be printed there.

In Quick Tools, print PDF straight from the refinance analysis tool:

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