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Top Up / Increase a Loan - Funding Position (Classic)

  • Updated

Learn how to create two types of loan top ups in a funding position:
a) increase the principle of the initial loan, and
b) leave the current loan unchanged and add a loan split for the top up amount.

Contents

Prerequisites
Video walkthrough
Locating the funding position
Increasing the principal
Adding a loan split
Exporting the Funding Position Report
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Prerequisites

Know how to create a funding position.

Video walkthrough

Locating the funding position

First, go to a deal and open a funding position.

  1. Locate a lead or deal.

  2. Double-click the name to open the card in full view mode.

  3. Go to the sidebar and click the Funding tab.

  4. Click the pencil icon.

You could create a new funding position (and then add all the loan details) or save a bit of time by duplicating an existing one.

  1. Locate a finding position.

  2. Click the three-dot icon.

  3. Select Duplicate.

  4. Rename the duplicated file.

 

Increasing the principal

This option tops up the loan by increasing the original loan amount.

  1. Go to the top of the funding position, click the Deal Type field, and select Top Up.

  2. Scroll down to the Existing Home Loans heading and make sure the Principal Loan Increase radio circle is selected.

  3. Enter the new loan total (original loan plus new loan amount) in the Base Loan field.

 

Scroll down to the Loan Splits section. Make sure the new loan total is in the Loan Amount field. Confirm the other settings. The page shows the new repayment figure.

 

 

Adding a loan split

This option leaves the original loan structure unchanged and adds a split to increase the total amount borrowed.

Duplicate an existing funding position (or create a new one). Rename the file. At the top of the page, click the Deal Type field and select Top Up.

Scroll down and click the Add New Loan Split button. A new section displays.

Enter the new Loan Amount and set up the other fields (e.g. Loan Type, Product, etc.). The section shows the new payment figure for this loan split. Click Save.

 

 

Exporting the Funding Position Report

To export the funding position, go to the file name and click the three-dot icon. Select a file option (PDF or Word). BrokerEngine downloads the file to your device.

 

 

Related articles

Create a Funding Position
Funding Positions Overview
Create a Funding Position Diagram

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