Broker Tools - Maximum Borrowing

Salestrekker calculates maximum borrowing capacity for the scenario entered in Client Profile.

Maximum borrowing is designed to closely match lender's actual borrowing capacity. Our target is less than +/- 5% variance from lender calculators for all lenders.

Each lender has various criteria that affects deal servicing, and Salestrekker simulates all of them in one calculator. One of the key elements is expected loan interest rate. Lenders either add buffer rate or utilise the floor rate whichever is bigger (both vary from lender to lender). This means that accurate generic lender maximum borrowing capacity calculation is impossible.

Broker Tools has three places that calculate Maximum borrowing:

1.  Maximum borrowing tab 
2. Product search tab
3. Product compare tab

Maximum borrowing tab

Maximum borrowing tab requires you to enter expected rate in order to estimate deal servicing. Since various lenders will have different rates, we allow you to select one or more lenders to show servicing under that expected rate. 

The following sections are critical in getting the calculators to present correct information:

1. Marital status and number of dependents (see linking contacts article here)
2. Income (including any rental income for investment purpose)
3. Expenses are entered correctly
4. Liabilities (including exact loan maturation date)
5. Product selection 
6. SVR discount 

Maximum borrowing on product search

This is where a more accurate maximum borrowing figure can be found (except for products with a negotiated SVR discount):

Users can sort products by maximum borrowing capacity, where green items are above the required loan amount and red are below the loan amount.

Note that SVR discount can be applied on Review loan product tab, showing correct maximum borrowing for those products that are listed with their SVR:

Maximum borrowing in Compare loan products

This tab shows maximum borrowing capacity and lender turnaround days (i.e. lender SLA to pick the file up). Turnaround days are updated twice per week and represent general (real) turnaround days.

Did you find a substantial difference having completed the lender servicing calculator and information in Client Profile/Broker Tools (i.e. >5% variance between two)?  Please check four items listed above prior requesting our team to check the calculator for you.