Task 1 — Assessing the clients’ situation
Based on the information provided in the case study and any other online tools used, you now need to assess the clients’ loan application paying particular attention that you have met legislative requirements, followed industry codes of practice, and met lender credit policy.
(a) Does the application appear to meet legislative requirements?
(b)According to the Genworth calculator, what is the maximum borrowing capacity of the client?
(c) Does the client have the capacity to meet the deposit and total cash contribution for the loan required?
(d) What are the required repayments based on the loan required?