Find and present in a business report the cheapest (lowest interest rate) home loan in the market that meets Mr and Mrs Monashs conditions specified in your team data. You are required to show evidence of your comparison.

The requirement for evidence would be providing screenshots either in the main assignment body or in an appendix, comparing your recommended product with at least two other loan products that match all the conditions stated in your team data. Any screenshots are to be referenced by footnotes or endnotes.

a) Applying their desired LVR, Calculate the amount Mr and Mrs Monash has to borrow.

b) Calculate the deposit Mr and Mrs Monash must contribute in the future.

c) Apply financial math to calculate the periodic loan repayment Mr and Mrs Monash must pay.

d) Assuming Mr and Mrs Monashs income changes by the current rate of annual inflation, will they be able to afford the periodic loan repayment needed for the loan? If not, by what nominal annual percentage will they have to grow their disposable income available to service the loan in the future when they buy their house? If their future income is greater than the loan repayment required, by what percentage is their income greater than the loan payment required?

to buy their house. $1,410,000 In 4 years time, Mr and Mrs Monash intend to buy a 3 bedroom house in Caulfield to live in. They intend to spend Task 1: Mr and Mrs Monash have the following conditions and needs of the loan you present to them: The loan has to be from a Credit Union, Building Society or Mutual Bank. The loan needs to have a Redraw facility Mr & Mrs Monash wish to make monthly repayments They wish to borrow money for 25 years They wish to take a fully amortizing loan. They are interested in a Variale rate loan (use comparison rates only) Mr & Mrs Monash want an LVR of Today, Mr and Mrs Monash have $2,500.00 of disposable income to service their debt at each loan repayment period. 90%