A Product Split can be applied from the Product Comparison calculator either inside an Opportunity or from the Calculators tab. The comparison rate for a product is something the lender needs to supply to your client.
Refer to Lender BDM Contact Updates.
How to apply a Product Split within an Opportunity
- Open an Opportunity in the CRM tab.
- Select Calculations from the left-hand panel.
- Click the New drop-down box and select Product Comparison.
- Select two or more products (from the same lender) you would like to use in your split and click Create a Package
- If the purposes of the split facilities are both Owner Occupied and Investment ensure the correct option is chosen from the Loan Purpose drop-down menu. This will allow products for both Investment and Owner Occupied to be selected as part of the splits.
- Note: Where there is a dual purpose for the split loan, please be aware that the Max. LVR reflected will be based on the Owner Occupied product. Please check with your lender BDM or lender policy for max lvr for investment portion.
- Enter the split amounts, name your split, and click OK.
- To use the same product for both splits, select a single product and click Clone.
- Your product splits will fall under the single product listing (eg, IDE: Package)
- Edit the loan details in the left-hand panel, or make further changes to the splits by clicking on the Product name (eg, IDE: Package).
- The Package Details window appears enabling you to edit details and change the splits
Apply Products to Opportunity
- Highlight the Product / Product Split.
- Click Apply Product to Loan. This will transfer the product to the Products section of your Opportunity.
- If there is a split, both products are listed in the Products section of the Opportunity. The product details will transfer through to the Credit Proposal Disclosure document. Note: as a precaution, any changes made to the interest rate, or loan term within the Product Comparison, will not be transferred to the Product section. Mercury will transfer the product/product split with the default lender values.