When you calculate a quote in BOLT, the results displayed show the maximum total commission amounts you can earn (by lender) for your transaction.
Important: The “Broker Split” amount is what you will earn AFTER the BOLT processing fee or commission split has been deducted.
You can then customise the Origination Fee and/or the Customer Rate down to a level that is satisfactory to both yourself and your client.
Each time you change the Origination Fee or the Customer Rate you will need to re-calculate the quote.
Important: BOLT will only produce quote results from lenders whose credit policies and guidelines match your client/quote scenario.
Lender quote results can also be sorted into ascending or descending order by clicking on the following text:
- Monthly Repayment
- Customer Rate
- Broker Split
By clicking on the “Info” button for each lender quote the following information is displayed:
- Amount Financed
- Monthly Account Fees
- Brokerage Amount
- Origination Fee
- Bank Set Up Fees
- Lender Base Rate
- Total Commission
Important: Please note the “Broker Split” quoted may NOT be the final commission you receive. Refer to “What is the Commission Model for BOLT” section below.