Home Loan Pricing Tool User Reference Guide

Transcription

1 Home Loan Pricing Tool User Reference Guide This document outlines hints and tips on the best way to use the Home Loan Pricing Tool (HLPT) to ensure you get the right price for your customer, all in the one request. Some of the things you ll find in this guide are: Page(s) Contents 2 4 Highlights and features of each section of HLPT 5 6 An end-to-end example of a pricing request: o A new customer with 2 new SVR applications 7 Tips on finalising and progressing your pricing request 8 Pricing approval document 9 14 Other scenarios to request additional discounts on: o A new variable / fixed split home loan o An existing SVR and VLOC o A top up of an existing SVR o New and existing SVRs o A split of an existing SVR into variable and fixed FAQs are also available on CommBroker. 1

2 Sections of the tool Home page Create a new request here. Search up your requests through any of these criteria, including the customer name. Quick access to this user reference guide through the tool, if you require assistance Jane Smith 24 June 2016, 2:50 PM Amendment required Jenny Jay 24 June 2016, 1:11 PM Offer please review Aaron Cotton 24 June 2016, 10:02 AM In Progress Ben Shoo 23 June 2016, 5.33 PM Amendment Required Linda Lee 23 June 2016, 4.31 PM Accepted Customer names can be found in your home page, to allow you to quickly search for your customer s request Ethan Smiths 22 June 2016, 9:45 AM Rejected Bob Montgomery 22 June 2016, 9:33 AM In Progress Steve Cooper 22 June 2016, 8:31 AM Accepted Ku Le Lay 21 June 2016, 2:54 PM Amendment required Request statuses are clearly named so you know what next steps to take to progress your request. For example, Amendment required means you will need to change something in your request in order for it to be actioned. 2

3 Submitting a new request Customer details Select whether this request is for an individual or company/entity Package holder. Separate requests must be submitted for separate Package holders. What are you requesting? This question let s you choose between a rate discount for Package products, or a fee waiver / rebate, or both. HLPT will only ask you for information related to what request option you have selected. 3

4 What if Submitting a new request Request details Include all your customer s loans which require further discounts in a single, easy-to-use table. Advertised rates for each Package product that you request a discount for is displayed on the screen, to assist you in requesting the right discount for your customer. Check the indicative final rate to make sure that it aligns with what is being requested. Your customer s total home lending balance is calculated on the screen, based on the new / existing / other home lending balances that you enter in the request. Additional field to enter any other CBA home lending balances that the customer owns solely or jointly, which are loans that do not require or are ineligible for any additional discounts For example, a customer may have an existing fixed rate, which does not mature yet include its balance here, as it contributes to your customers total lending view. Submitting a new request Further information Supporting documents can be added here if available. Fee waivers / rebates can be requested in this last section of the tool. Select the fee waiver or rebate and input the amount requested to be waived. Enter the related account or application number, if available. Comments and history of the request is found at the end, where you can include more details about your customer, the loans, any competitor offers etc. You will also find the Pricing team s comments here, if they require more information from you. 4

5 Scenario 1/6: new customer with 2 new SVR applications (part 1/2) My customer, who is new to CBA, is refinancing from another bank. She has two home loan applications, for two new SVR loans (one is Owner Occupied for $540k, another is Investment for $680k). Over the next two pages is an illustrative example of how to request additional discounts for this scenario, as well as how to finalise the request. A B Fill out the customer s details, and select Rate discount when asked What are you requesting? In the next section, you will need to enter details related to the two applications in the Products table. Make sure you click on the after each row. D Make sure the new lending balances for each loan match to what is in the application E Ensure that the Owner Occupied (OO) and Investment (IHL) loan types are selected correctly F The advertised rates for each product will pre-populate as you enter the Discount requested this will then calculate the indicative final rate for each loan C You can include both applications in the one request Click this to delete a loan Click this to add a loan G The two applications new lending balances have been summed up here for you Total new lending balance $1,220,000 Total existing lending balance Total home lending balance H Make sure the total home lending $1,220,000 balance is correct $ MAV Package I This is the base LVR, exclusive of LMI premium J Click Next and enter any supporting comments in Further information, then click Submit. See how to finalise this request on the next page. 5

6 Scenario 1/6: new customer with 2 new SVR applications (part 2/2) My customer, who is new to CBA, is refinancing from another bank. She has two home loan applications, for two new SVR loans (one is Owner Occupied for $540k, another is Investment for $680k). Once you have submitted your pricing request, you will either get an instant pricing decision, or you will receive notification (via ) that a decision has been made. L Access the request and review the decision. broker@broker.com.au M If you have had a discussion with your customer, and choose to accept the discount that is approved, you will need to enter the discount for each loan that you have included in the Products table within the request. Then click on. N Any comments from the Pricing Team can be found on the left hand side of the Comments and history section please review them in conjunction with the pricing decision. See the next page for more information on progressing your request. 6

7 If you choose to An accepted discount must be entered next to each loan Once the request has been accepted, you will not be able to go back into it to amend it a new request will be required You must provide additional information in the Comments & history section to support your appeal Then click on the Escalate button You will be able to escalate a request up to two times Click on the Decline button if you no longer want to proceed with the approved discount. If you see B Read through the Pricing Team s comments / instructions, and make the relevant changes to progress your request. A If you see this status next to a request that you recently submitted, click on the Request ID. C Click on Submit after you have made your amendment. See pages 9-14 for more scenarios and how to enter them in the tool. 7

8 Pricing Approval Document Total new lending refers to the new application(s) balances this will be $0 when there are no applications in the request. Jane Smith Discounts approved are already inclusive of Package discounts. For example: 1.20% = 0.70% (Standard Package Rate) % (additional discount) This pricing offer is valid if the loan application has been approved in principle prior to this date. You will need to image this document to the application. Please note, these types of loans are not eligible for discounts and therefore cannot be included in the account section of the request, unless a switch request is completed. Remember, existing loans will only have the discount applied after the related new loan settles. It is highly recommended that you include all new and existing loans that require additional discounts in the ONE request. 8

9 Appendix more scenarios Page Requesting additional discounts on: 10 A new variable / fixed split home loan 11 An existing SVR and VLOC 12 A top up of an existing SVR 13 New and existing SVRs 14 A split of an existing SVR into variable and fixed 9

10 Scenario 2/6: existing CBA customer, applying for MAV a new Packagevariable/fixed split home loan My customer, who is an existing CBA customer, is applying for a home loan for the first time. He would like to split his loan between variable and fixed rate, but is unsure of which loan term. He would like to split $320k as variable and $300k as fixed, and wants to know what discount can be offered on a 2 Year and 3 Year Fixed Rate, to help him decide. Below is an illustrative example of how to request additional discounts for this scenario A B C Fill out the customer s details, and select Rate discount when asked What are you requesting? In the next section, you will need to enter details related to the application in the Products table. Make sure you click on the You can include both SVR and Fixed Rates requests in the one table D Enter one row for the 2 Year Fixed Rate, and split the new lending balance in half ie $150,000. After you fill and add the details for this row, enter another row for the 3 Year Fixed Rate, and input the other $150,000. See F for more information. E If your customer is a Homeseeker, select Yes after each row. F You need to ensure that this Total new lending balance for this scenario is the application balance of $620k this is why you need to split the Fixed Rate new lending balance into two rows of $150k each Total new lending balance $620,000 Total home lending balance $620,000 G Total existing lending balance $0 Make sure the total home lending balance is correct and matches the application total of $620k Wealth MAV Package H This is the base LVR, exclusive of LMI premium 10

11 Scenario 3/6: existing CBA customer with an existing SVR and VLOC My customer has an existing SVR account, with a balance of $360k, and VLOC account, with a limit of $296k. She would like additional discounts on both accounts. She also has an existing 2 Year Fixed Rate of $350k, which is 1 year away from maturity and therefore is not eligible for any additional discounts. Below is an illustrative example of how to request additional discounts for this scenario A B Fill out the customer s details, and select Rate discount when asked What are you requesting? In the next section, you will need to enter details related to the application in the Products table. Make sure you click on the after each row. C You can include both SVR and VLOC requests in the one table Refer to G for what to do with the existing Fixed Rate D Select Existing account for both and enter the existing balance (including redraw) for the SVR and the existing limit for the VLOC E If there s a competitor offer, ensure that it is for a comparable product type F Check that this Total existing lending balance for this scenario is correct for the two accounts that you entered in the table above Total existing lending balance $650,000 Total home lending balance $650,000 H Make sure the total home lending balance is correct, which for this customer is the sum of all 3 existing home loans MAV Package G Any other CBA home lending balance is a field available for balances of other home loans that the Package Holder owns, which do not require additional discounts In this scenario, the existing balance of the 2 Year Fixed Rate needs to be included here, as it contributes towards your customer s Total home lending balance 11

12 Scenario 4/6: existing CBA customer topping up an existing SVR My customer has an existing SVR account that he would like to top up with $150k, and is requesting additional discounts. Below is an illustrative example of how to request additional discounts for this scenario A B Fill out the customer s details, and select Rate discount when asked What are you requesting? In the next section, you will need to enter details related to the application in the Products table. Make sure you click on the after each row. C Select Acc/App top up for this scenario, and enter the current account number for the loan that is being topped up D Enter $150k as new lending for the top up amount, and enter $260.5k as the existing lending balance of this loan E You will have both a new and an existing lending balance total make sure these amounts match to your top-up application Total new lending balance $150,000 Total existing lending balance $260,500 Total home lending balance $410,500 F The total home lending balance for this customer is the sum of the existing loan and the new top-up amount MAV Package 12

13 Scenario 5/6: existing CBA customer with new and existing SVRs My customer has two existing SVR accounts and is looking to apply for a new SVR home loan, of $400k. She would like to negotiate additional discounts across these three SVR accounts. She also has an existing 3 Year Fixed Rate of $350k, which is 2 years away from maturity, and will not be repriced. Below is an illustrative example of how to request additional discounts for this scenario A B Fill out the customer s details, and select Rate discount when asked What are you requesting? In the next section, you will need to enter details related to the application in the Products table. Make sure you click on the after each row. C To ensure the right discount is approved and applied to all Existing accounts when the New application funds, you will need to include all loans in the same request D You will be able to request different discounts for different loan types E You need to ensure that this Total new lending balance for this scenario is the application balance of $400k this amount will appear in the offer document if you choose to accept the discounts approved Total new lending balance $400,000 Total home lending balance $1,740,600 G Total existing lending balance $990,600 Make sure the total home lending balance is correct and matches the customer s profile MAV Package F Any other CBA home lending balance is a field available for balances of other home loans that the Package Holder owns, which do not require additional discounts H This is the base LVR, exclusive of LMI premium In this scenario, the existing balance of the 3 Year Fixed Rate needs to be included here, as it contributes towards your customer s Total home lending balance 13

14 Scenario 6/6: existing CBA customer, splitting an existing SVR into variable and fixed My customer would like to split his existing SVR account of $1,200,000 and switch $500,000 into a 3 Year Fixed Rate. Below is an illustrative example of how to request additional discounts for this scenario A B Fill out the customer s details, and select Rate discount when asked What are you requesting? In the next section, you will need to enter details related to the application in the Products table. Make sure you click on the after each row. C For the switch portion of this scenario, select Product switch and enter the Switch application number. D Enter the balances of each split, ensuring that it sums to the $1.2m total. See E for more information. E Regardless of the actual split that your customer is after, you need to make sure that the total home lending balance sums up correctly and matches the customer s profile as $1.2m Total new lending balance $0 Total existing lending balance $1,200,000 Total home lending balance $1,200,000 MAV Package F This is the base LVR, exclusive of LMI premium 14