You are assisting 3 different clients, each with complex lending and issues relating to taxation, bridging finance, company and trust income and assets, self employment, rural property locations and multiple investment properties. You are to video (Script) your conversation as if you were on a zoom conference with them.

Please read the scenario sheet for further information to assist with your video responses to each of the 3 client/s.

Your task is to include in the 3 x video (Script) responses to your client/s the following:

• Identify clients goals, objectives, requirements, level of financial understanding and need of situation.
• Ensure the video communication to your clients follows legislative and regulatory requirements, codes of practice and organisational policies and procedures.
• Guide your clients through their credit options, discuss risk issues with your client, discuss their tolerance level, impacts, make recommendations, explain the loan implementation actions, fees, cashbacks, charges, rates, commissions from each lender. Discuss any potential issues that may require further consultation with other financial specialists such as accountants or financial planners.
• Communicate the complaints resolution procedures to clients or where they are available if needed.
• Ask for written agreement via return email to proceed with your recommendations. Ensure the clients confirm they understand and are also aware of next steps and post settlement broking services.

Adelaide Bank Commbank Macquarie Bank Fees Bridging loan MAV package $395 Bridging loan $600 establishment $600 per year only fee establishment package fee $10 package fee $195 per monthly year Charges for discharge $200 government fee $200 government fee $200 government fee and registration of for for for mortgage registration/discharge registration/discharge registration/discharge of mortgage of mortgage of mortgage Interest rates 3.95% variable 3.90% variable 3.92% variable Broker commission .75% commission plus 80% commission plus .78% commission plus and trail 2% trail for up to 24 15% trail for up to 24 17% trail for up to 24 months months months Required documents Rates notice Rates notice Rates notice for application for current for current for current property property property Last 2 years Last 2 years Last 2 years tax returns tax returns tax returns and most and most and most recent notice recent notice recent notice of assessment of assessment of assessment 6 months of 6 months of 6 months of current home current home current home loan loan loan statement statement statement 3 months of 3 months of 3 months of current current current transaction transaction transaction accounts accounts accounts including any including any including any business business business accounts or accounts or accounts or credit card credit card credit card statements statements statements Drivers Drivers Drivers licence, licence, licence, passport and passport and passport and medicare card medicare card medicare card Novated lease options Yes Yes Yes Current SLAs for 3 business days 2 business days 1 business day bridging applicationsClient 1 Idris Elba Idris currently lives in Henley Beach SA; he is looking to move closer to his elderly mother who lives in Glenelg. He has a lot of furniture and tools in his shed that he needs to clear so would prefer to buy before he puts his place on the market. His main priority is his mother so moving asap is his preference. Idris has funds in his current home loan redraw to cover a deposit of 10% at an auction. His current home is worth $1,100,000 and owes $150,000 with $100,000 available as redraw of extra repayments. It is currently mortgaged to Bank SA. He is looking to downsize to Glenelg so a smaller place and is likely to spend $950,000 on it. As Idris is self-employed he also needs to upgrade his car and is interested in a novated lease for taxation benefits and ease of payments for running costs etc. Idris income has been constant over then last 2 years of an average of 5175,000 net profit, he is a software developer. AMP Bank Bankwest Bank of Queensland Fees Establishment $600 Package $395 per year Package fee $195 per package fee $10 only fee year monthly Charges for discharge $200 government fee $200 government fee $200 government fee and registration of for for for mortgage registration/discharge registration/discharge registration/discharge of mortgage of mortgage of mortgage Interest rates 4.95% variable 4.90% variable 4.92%% variable Cashback $4000 for loans above $3000 for loans above $5000 for loans above $250,000 $250,000 $250,000 Broker commission 75% commission plus 80% commission plus 78% commission plus and trail 2% trail for up to 24 15%% trail for up to 24 17% trail for up to 24 months months months Required documents Rates notice Rates notice Rates notice for application for current for current for current property property property 2 most recent 2 most recent 2 most recent payslips payslips payslips 6 months of 6 months of of assessment current home current home 6 months of loan loan current home statement statement loan Most recent statement rental income Most recent Most recent statement for rental income rental income each property statement for statement for 3 months of each property each property current transaction 3 months of 3 months of accounts current current including any transaction transaction business accounts accounts accounts or including any including any credit card business business statements accounts or accounts or Drivers credit card credit card licence, statements statements passport and Drivers Drivers medicare card licence, licence, passport and passport and medicare card medicare card Current SLAs for 2 business days 2 business days 2 business days refinance applicationsClients 2 = Russell and Jenny Clark Russell and Jenny are looking to simplify their investment property loans to make things easier at tax time and make it easier to manage their holding costs and making these payments. All properties are owned jointly. Both Russell and lenny work for Mercy Hospital in Melbourne in admin on PAYG wages. They live in Croydon Victoria and have a property worth 51,500,000. They owe 575,000 on the loan to Macquarie and have 550,000 in an offset account for emergencies. Currently all of their investment lending is with Commbank. They have quite a complex taxation file and the loans are not set up in a way to easily apportion the costs for each property. Their accountant has made recommendations below. Loan 1 is for 51,075,000 and is secured by 3 properties in Victoria: * Bendigo house worth 5450,000. The accountant has advised she wants the loan to be $310,000 for this property. * Geelong house worth 5900,000. This property is listed as a heritage property and the accountant wants this loan to be $640,000 for this property. Morwell block of 3 units on one title worth 5250,000. The accountant has advised she wants this loan to be $125,000 for this property. Loan 2 is for $650,000 and is secured by 2 properties in Queensland: e Richlands duplex townhouse worth $350,000. The accountant advises the new loan to be 5275,000. * Nundah apartment worth 5450,000. The accountant advised she wants this loan to be at $375,000. Loan 3 is for 5578,000 and is secured by 2 apartments in same complex in Kingsford NSW both worth 5425,000 each. The accountant advises here she wants 2 loans both for 289,000 each. ANZ Bank Commbank National Australia Bank Fees Advantage package MAV package $395 Choice package fee fee $395 per year only fee $395 Charges for discharge $200 government fee $200 government fee $200 government fee and registration of for for for mortgage registration/discharge registration/discharge registration/discharge of mortgage of mortgage of mortgage Interest rates 3.95% variable 3.90% variable 3.92% variable Broker commission .75% commission plus 80% commission plus .78% commission plus and trail 2% trail for up to 24 15% trail for up to 24 .17% trail for up to 24 months months months Required documents Rates notice Rates notice Rates notice for application for current for current for current property property property Last 2 years Last 2 years Last 2 years tax returns tax returns tax returns and most and most and most recent notice recent notice recent notice of assessment of assessment of assessment 6 months of 6 months of 6 months of current home current home current home loan loan loan statement statement statement 3 months of 3 months of 3 months of current current current transaction transaction transaction accounts accounts accounts including any including any including any business business business accounts or accounts or accounts or credit card credit card credit card statements statements statements Drivers Drivers Drivers licence, licence, licence, passport and passport and passport and medicare card medicare card medicare card Current SLAs for 3 business days 2 business days 1 business day applicationsClient 3 = Dlivia Manning Olivia is an animal loving graphic designer. During the lockdowns of Melbourne during COVID, Olivia sold her home, separated from her partner Michael and moved to Grafton N5W. She has been renting and is now looking for a property to give her freedom to continue her work and also create a new business venture. She is looking to buy a property on around 5-10 acres. The land will be used for small scale hobby farming, she would like to rescue goats, horses and alpacas. She is also planning a new business venture where she will reduce her graphic design work and start producing crochet kits for people kearning to crochet to sell at local art markets. With her graphic design business she has done very well, especially during COVID and her income has not altered and has averaged 5150,000 net profit for her share the last 2 years. Olivia is looking to spend arcund 5750,000 on the property and has 625,000 available in cash to buy the property. She is concerned about getting a loan as she is self employed and the location being a little bit remote as she does not want to be too close to town. She also has an investment property that was purchased with her ex partner, Michael. He is a part owner of the graphic design business also and the investment property is owned in their company name in trust for the Olivia and Michael Panning Family trust. Olivia and Michael have an accountant Dale Grayson and his email address is dale@grayiond.com, you may need to contact him regarding the documents yvou need for their income. Entry Finance website is www.entryfinance.com.au Privacy policy will explain the complaints resolution procedures contact details and the below is from the Credit Guide Internal Complaints Officer Complaints Officer Contact Details Loan Market GPO Box 5200, Sydney NSW 2001 Email: compliance@loanmarket.com.au External Dispute Resolution Scheme Australian Financial Complaints Authority Contact Details Online: www.afca.org.au Email: info@afca.org au Telephone: 1800 931 678 [free call] Mail: GPO Box 3, Melbourne Vic 3001 At Entry Finance we pride ourselves on post settlement service. We contact you 6 months after the loan is funded to see how things are going, however, you are always welcome to contact us for any queries. Once you loan has been funded for 1 year and at each anniversary we contact your lender to obtain a rate reduction, if this is not possible, we consider offers other lenders have at the time, including any cashbacks to offset any refinancing costs