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    Assessment Tasks

    Uploaded by

    patrick wafula

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Assessment Tasks

    Uploaded by

    patrick wafula
    13 views5 pages

    Copyright

    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views5 pages

    Assessment Tasks

    Uploaded by

    patrick wafula

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Qstn 1

    I would recommend that Mr and Mrs Bowen to accept the standard variable loan for

    their fixed rate loan and home loan for their investment loan. Considering the investment

    property value being quite low unlike the loan needed hence its recommended that they

    should employ a collaterisation and provide home property in form of security including new

    investment properties. Another advantage of splitting loan is that Mrs. & Mr. Dowell are

    paying residential home loan at which they are not able to claim tax deduction of interest

    payment. However, with splitting of loan for residential purpose and investment, they would

    be able to avail interest deduction on interest payment of loan amount as per taxation laws.

    Moreover, ANZ shall charge one application fee as it is treated as one loan facility. Cross

    collateralisation will also allow lowering of Loan to Value Ratio and thus saving Lender

    Mortgage Insurance.

    Qstn 2

    a) Notes to support the application

    b) Application Form

    c) 100-point check

    d) Photo ID like passport

    e) Statement showing other investment, if any

    f) A letter from employer stating the designation, pay and tenure of the PAYG employee

    availing for loan.

    g) Loan Serviceability work sheet

    h) Financials: In borrower order with the oldest information first.

    i) Loan Statements of current loans and bank statements of all types of bank account.

    j) Rate notices
    k) Contract of Sales (for purchases)

    l) Letter from Property Manager re expected rental income.

    m) All other supporting documents required.

    Qstn 3

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