Based on the scenario for David Patel you have created the deal in MYCRM and you have just completed your First Chat with David.

Scenario :

Meeting Held $25/01/2023$

Broker Reference number and ID $145/145895$

Customer Name: David Patel

M: $0478985698$

E: davep@gmail.com

DOB: $17/02/1978$

Citizenship: Australian

Residential Address: $78$ Longview Road, Ipswich, QLD $4001.$

Length at residential address since: $09/11/2020.$

Age: $45$

Marital Status: Divorced, no dependants.

Drivers Licence Number: $145875$

Mothers Maiden Name: Pratt

Nearest relative not living with you: Jake $$ Brother, m:$0458547896,3$ Albert Rd$,$ Ipswich QLD $4001.$

Occupation: Self Employed Business Owner, sole trader for $3$ years, GST registered.

Start Date of business: $01/01/2020$

David owns a successful handy man business called DP Handyworks. ABN $1487568115$

Annual Income: FY $22/23$ $$250,000$ and FY $21/22195,000($Net Profit Before Tax$)$

Current Residence: Owns a house in Ipswich QLD$.$ no mortgage, valued at $900,000.$

Objective: Interested in purchasing an apartment in Goal Coast for investment for around

$950,000\mathrm{.}00,$ he expects to receive $850\mathrm{.}00$ per week in rent, with an estimated loan amount of

$702,000.$

Loan Type: $5$yrs Interest$-$Only repayments, $5$ yr Fixed Investment Loan with a $25$ year total loan term.

He has been advised by his accountant Tim Hogan from TAXTIME ACCOUNTING, phone: $1800$ TAX

TIME, to set the loan up this way to maximise cash flow.

Redraw facility is an important feature he would require in a product, once the fixed period is over.

David understands the loan he is applying for will not have redraw access.

Credit Score: Very Good $(960)$ with no past defaults or judgments.

David is not interested in other products at this stage.

Additional Financial details:

Savings: David has $$237,500\mathrm{.}00$ in cash savings in a CBA account, for a $25\%$ deposit.

Existing Rental Property: He also owns an apartment with rental income of $$2,000$ per month, the

apartment is valued at $750,000.$ The address is $45/859$ High St Road, Brisbane, QLD $4000.$

Other Assets; $1$ work truck Hilux $2022,$ valued at $30,000.$

Current HESTA Superannuation Balance: $130,000$

Various Shares: $23,000$

Home Contents Value: $45,000.$

Liabilities: David has a business loan with CBA owing $50,000$ with a monthly payment of $$1,000,$ and

a current investment property loan with ANZ of $240,000$ @ $6\%$pa$,$ principal and interest, there is

about $10$years left on this loan.

Monthly Living Expenses: David estimates his monthly living expenses, including groceries,

recreation, transportation, medical, utilities, property management fees, insurance, at approximately

$$4,500.$

Retirement: David plans to retire at the age of $75.$ He does not foresee any adverse circumstances in

the future that will affect him repaying this loan.

If he needed too, David could use the sale of his current home or his current investment property to

pay down the loan at or prior to retirement.

Estimated Fees Involved:

Conveyancer fees $2,000\mathrm{.}00$

Bank and Registration Fees $1,500$

Stamp Duty Fees $35,775$

To complete your File notes and Goal Setter in MYCRM$,$ please summarise the key Requirements and Objectives of the customer using the below guidelines.

Responsible Lending Guide $-$ ASIC

$*$ The customers Objective$/$ Purpose for the loan

$*$ The amount$/$s required

$*$ The goal of the customer over the short, medium, and long term.

$*$ Is an exit strategy required?

$*$ Include full details about the product type and features required and WHY these features are important to the client. I.e$.$ fixed, variable, redraw, offset, package products, interest only, rate lock ect.

$*$ Regarding the term of the proposed loan, document WHY the customers requested a particular loan term. Eg $($scaling back to $30$yrs$)$

$*$ In the case of scaling back a loan term, document your conversation about the implications of scaling back the loan term.

Document any other specific requirements that were discussed