Some applications have Company/Trust structure where security ownership and borrower entity is a Company/Trust and where guarantors are Company directors/Trust beneficiaries.
This structure is somewhat similar to SMSF structure which you can read about here.
Add new deal with
Directors/Beneficiaries as the Servicing Guarantors and
Company as the Client.
Deal View should look like this:
Set up Company Trust in Broker Tools
In Broker Tools, under Company client, select that Company is acting on behalf of a trust (1) and add trust details. Here, search for Trust ABN if required.
Add Trust name (2) and type of trust (3). Optionally add Trust settlor and other company information (registration and GST details).
Add Entity individuals (4) - simply type their first names and select other deal contacts (Guarantors).
Enter all Contact/Guarantor details as per any other application.
Security and Loan Ownership
Set Security ownership as 100% Company/Trust Client and Loan ownership to Serviceability Guarantors:
Produce Compliance Documents
Once all compliance commentary is added, produce relevant compliance documents. Note that there is an option from 14/03/2020 to produce a separate set of documents for Borrowers and Guarantors:
Push the deal to the relevant lender Gateway and ensure everything is set up there in line with Company/Trust/Guarantor structure.