You have been asked to research a lender for a client as part of a refinance. Your client is named Josep Minez, single, has an income of $100,000 pa and wants to get a better rate and have $20,000 extra funds to put in a new kitchen. The loan is currently with NAB and owes $235,000. Their estimated value of their home is $500,000. Josep is looking for a 30 year loan term. In the section below, draft an email to your client giving them the options for the loan refinance. At this stage, give them the details of the 4 lenders and calculate the monthly loan repayments based on the information above. You can use a banks website to calculate loan repayments, please use the rates in the resource page or you could download an app called "EZ Calculators" Then click on the loan calculator.

Below is reference material to support a loan of $250,000 minimum As part of any communication to a client you should ensure you have a waiver when giving out interest rates. An example could be : *these rates, fees and charges are subject to change