Create a Funding Position

A client funding position sets a single point of reference that you can use to build client facing product scenarios and reports. It also serves as the 'source of truth' for key details of the deal for the team cross reference and proactively update the client with throughout the process of the deal.

Contents

Prerequisites
Video Walkthrough
Add a funding position to a lead or deal
Filling in the Lender and Package section
Filling in the Funding Position Detail section
Calculating government fees and grants
Adding loan splits
Change default funding position
Related articles

Prerequisites

None.

Add a Funding Position to a Lead or Deal 

To create a funding position for a lead or deal:

1. Open the lead or deal in full view mode.

2. Expand the Strategy section in the sidebar - click to expand the section.

3. Click Funding Position. An empty Funding Position displays. 

In the centre panel: 

1. Enter a unique name, or just leave the default name (For internal use. This helps you differentiate between multiple funding positions.)

2. Select a Deal Type.

3. Select a Lender.

4. Click Save or Save As Default.

    

    

   You can create multiple funding positions against any lead or deal. Click Add New Funding Position and repeat the same process above.
   
   Ensure you select the funding position you proceed with as the Default as this will be the data that pulls through to your reports and advices.

Filling in the Lender and Package section

1. Confirm the Lender field selection or select a different option. BrokerEngine updates the Package drop-down with a list of lender options.

2. Click the Package field and select an option.

3. Set a Fee Frequency and Fee. (optional)

4. Select a loan purpose.

5. Enter details important to the client.

If the loan purpose is Owner Occupier or Investment, BrokerEngine updates the Loan Purpose field on each Loan Split to save double data entry.

Filling in the Funding Position Detail section

1. Enter numbers for the Valuation and Purchase Price. BrokerEngine compares the valuation number with the base loan amount to calculate Base LVR and Post Cap LVR.

2. Fill in the other fields.

3. If available, click the Show Details link to display a breakdown of component costs.

4. If available, click the calculator icon to calculate a value. The calculator opens in a popup window.

BrokerEngine displays the balance between costs and funding at the bottom of the section.

Calculating government fees and grants

Click the calculator icon next to Stamp Duty to estimate government grants and fees payable for the purchase.

1. Select the state or territory of the property.

2. Enter the required information.

3. Click Apply. BrokerEngine adds the fees and grants to the funding position.

Adding loan splits

Fill in these fields if the client needs more than one loan split. Click Calculate Loan Splits to copy loan data information you entered above. Enter information about the first split.

Click Show Account & Repayment Details to expand the section. Click a field, select an account you have already created, or add a new one. If required, click Add New Loan Split and enter information about other splits.

BrokerEngine calculates the loan splits and displays an alert if they don't match the total loan amount.

Saving the funding position

Click Save As Default to save the funding position as the standard position for product scenarios and reports. Click Save to use the new funding position as an alternative.

Change Default Funding Position

You may need to scroll your page up on the centre pane to display your list of funding positions within the deal:

1. Click the three dots icon next the funding position you would like to make the default.
2. Click Set Default
3. A Default tag will display next to the Funding Position selected as the default. 

Related articles

Funding Positions Overview
View Funding Positions
Create a Funding Position Diagram