QuestionPlease assist with AN EXAMPLE script that a broker would have withtheir client in the office, after they have assessed their loan application. All of the relevant client details are listed below, I cannot provide any more information then the below. Please structure it as dialogue between ‘the Broker’ and ‘Tina’ (from the case study)based on the below information.SCRIPT EXAMPLEBroker: Hi Tina how are you today?Tina:good thanks how did our application go?Broker: lets discuss …..The Question from my Assignment:??present your analysis and recommendations to your client (friend or colleague).??Due to the need to get an approval so contracts can be signed, an appointment has been made but unfortunately one of them (this will depend on which role your volunteer plays ?Tim or Tina) cannot be present as he/she has had to go interstate urgently to visit a sick relative.??Your clients do not wish to delay this meeting as they are keen to hear what you have to present ?information can be passed to the other over the phone, when needed.??focus on presenting your analysis of the couple’s current position, loan?rospects as well as your recommendation, covering the following essential points:????? summary of your understanding of the clients’ needs (this could be an outline summary of their proposed loan structure)????? summary of their current financial position (use information from the case study)?????he product options you have considered that meet their needs (you should have researched at least two lenders) and details of the loan features; use the internet or if working in industry, internal?oftware to do?????he option you recommend and the reasons for the recommendation ?explain how the recommended product meets the clients’ needs (refer to the case study and explain why you are recommending this lender)?????onfirm the key disclosures that have already been supplied to clients in the Credit Guide?????nvite questions from the client and respond accordingly.The assessment criteria will be assessed on includes the following:??appropriate introduction and building rapport??explore solutions that meet clients’ goals and objectives??present broker solution to clients’ request??explain relative fees and charges??collaborate on risk identification??response to questions, record customer feedback and actions taken.The script is to be based on the below client information: Tim and Tina Chee are a young couple about to buy their first home. They have been?arried for five?ears and during that time have rented an apartment while saving for their own home.Following a personal referral from Thomas (Tim’s brother), you have already had a first meeting with Tim and Tina to discuss their objectives and needs. They admitted they have little time to do much research on lenders; have limited knowledge of the loan products available and basically are not sure what is right for them.During (and subsequent) to your first meeting, Tim and Tina have provided the basic information documents ?pay slips, tax returns, bank statements, property details for review/verification. You have now undertaken your preliminary assessment and need to discuss and present to them the proposal covering the options and your recommendations. It is important to get the proposal moving quickly, as the agent has indicated other parties are interested in the property. They have been looking at properties for the past three months and have found a 10-year-old established apartment that has really caught their eye; although they have some concern over the kitchen, which?equires a little work.They have not paid a deposit at this stage, but the real estate agent has provided some guidance on additional fees and charges.Following is a summary of the details of the property they wish to purchase, the couple’s financial and employment details, and the loan features they require.The propertyAddress Unit 1, 92 Seaside Lane Edgartown (Your state) Purchase price $490,000 Description 2 bedroom, 2 bathroom, Strata Title apartment Agent details Stephanie Jones Landline 8123 1113 Mobile 0412 880 088The coupleCurrent address Unit 12, 22 Singapore Lane, Baldhills, (Your state) Tim and Tina have lived there since March 2012 Home phone 9123 2121Funds positionPurchase price $490,000 Client’s estimate of costs $25,000 Total required $515,000 Loan $440,000 + LMI Client’s own contribution $75,000Use fees and charges applicable to your state. If the servicing calculator you are using requires a postcode, select one (1) that would represent a reasonable suburb/location in your city or state.AssetsCapital Bank savings account (joint) $78,000 Capital Bank cheque account (joint) $1,600 Holden Commodore SS 2007 (Tim) $25,000 Kia Cerato Sport 2015 (Tina) $9,000 Superannuation ?Capital Bank (Tim) $28,000 Superannuation ?Capital Bank (Tina) $62,000 Household effects (insured value) $40,000LiabilitiesCapital Bank personal loan (Tim) $5,600 (repayments $180 p.m.) Capital Bank Visa card (Tim) $200 (limit $4,000) Capital Bank Visa card (Tina) $1,600 (limit $5,000)Payments have always been met on time and any prior loans repaid in terms of contracts. The minimum monthly commitment on each of the credit cards should be calculated at 3% of the credit limit.Living expensesAnnual expenditure for living expenses ?$33,000.Employment and incomeTim (date of birth 21/2/87)Position Team Leader (full time) Employer ACE Pty Ltd, 101 City Rd, Westside (Your state) Phone 9800 1111 Income (gross) $58,000 p.a. monthly gross income: $4,833 Employer contact Dwayne Johnson, HR Manager Length of service Since October 2005 Driver’s licence 8855KL Email t..Tina (date of birth 8/10/88)Position Accountant (full time) Employer Tech City, 804 High Street, City East (Your state) Phone 9910 2033 Income (gross) $95,000 p.a. monthly gross income: $7,917 Employer contact Bruce Wayne, HR Manager Length of service Since March 2006 Driver’s licence 17016C Email @Solicitor’s detailsJones and Co22 High Street, City East (Your state)Phone: 82811382Email: jonesandco.net.auThe solicitor has quoted a fee of $1,500 for the conveyance.The loan requirements??30-year term??Premium option home loan features??variable interest rate (for this case use 4.5% p.a.)??LMI to be capitalised??proposed settlement date ?six weeks from exchange of contracts??ability to make additional payments from time to time without penalty??fortnightly repayment option??redraw facility??funds access via card.Other information??Tina has asked if there are any professional package benefits available because she is an accountant.??Tina previously owned and lived in an apartment with her two older sisters when they attended university but they sold this before she married ?they did not make a lot from the sale.??The couple do not plan to have children within the next 5 years.??However, they do have plans to take a major overseas trip within 5 years.??Tim is hoping for a promotion within the next 12 months upon possible retirement of a long-term employee where he works.AccountingBusinessFinancial AccountingBANKING 456
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