Topic 3-3

Supplementary material

Preliminary Assessment
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 Preliminary Assessment
XYZ Pty Ltd

Applicant name/s: Peter & Joanne Fox

I have made reasonable enquiries about the applicants’ financial situation, requirements and Yes No
objectives in relation to the credit requested

Requirements and objectives:

Clients are seeking to purchase a new owner occupied property

Funds to complete are coming from the sale of a property in Jonestown. Sale price $2,160,000

Joanne will receive 50% of the sale amount. This was part of an Estate so there will also be some fees to the Estate
lawyers.

We have entered an amount of $1,000,000 as an ‘other’ asset.

Remaining funds will sit in the offset account.

Mix of fixed & variable. All Principal & interest

Good incomes, good employment history, small debt level

I have taken reasonable steps to verify the applicants’ financial situation by using the following Yes No
evidence

PAYG Slips

PAYG Summary or Notice of Assessment

Personal Tax returns

Company/Trust tax returns & financials

Rental income

Accountant’s statement and/or Business Activity Statements (low doc only)

Loan Statements

other, specify

I have determined the following credit products meet the applicants’ financial position, Yes No
requirements and objectives (list one or more shortlisted products)

Product 1 AMP – basic variable + 5 year fixed

Product 2 ING Orange advantage + 5 year fixed

Product 3 HSL variable + 5 year fixed

XYZ Pty Limited

ABN 12 345 678 000 l Australian Credit Licence: 123456
123 Jones Street, Jonestown, NSW 1234
CONFIDENTIAL Ph: 1300 111 111 1 of 2
 Preliminary Assessment
XYZ Pty Ltd

Based on my enquiries, I believe the applicants will be able to comply with their financial Yes No
obligations and will not experience substantial hardship (select applicable reasons)

there appear to be adequate funds from after tax income after payment of living
expenses to repay the loan

the applicants’ income appears to be consistent and reliable

the applicants’ expenses do not appear to be not significantly higher than average

there appears to be an adequate buffer between the applicants’ disposable income and
the amount of the repayments

the applicants are willing to change their lifestyle to enable them to afford the loan
without substantial hardship

other, specify

Based on the information provided, I have made a preliminary assessment that the loan described above is
not unsuitable for the applicants

Preliminary assessment is valid for 90 days

__________________________________

Signature of broker Date 16/07/2016

XYZ Pty Limited

ABN 12 345 678 000 l Australian Credit Licence: 123456
123 Jones Street, Jonestown, NSW 1234
CONFIDENTIAL Ph: 1300 111 111 2 of 2