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Net Surplus Calculator – User Guide Prepared by
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1. a minimum of at least one dependant must be entered Any add backs should be placed in the relevant fields shown in the PLUS ADD BACKS NON TAXABLE INCOME section Version 2 0 Page 7 of 18 gt AdelaideBank Net Surplus Calculator User Guide Figure 4 Corporate Self Employed Income Corporate Self Employed Income gt AdelaideBank Use the TAB key to move to the next Field Use SHIFTITAB to go to the previa Reset Thursday 28 May 2015 Iv Sole Propnetor or Pa rinership TAXABLE INCOME SOLE PROPRIETOR or PARTNERSHIP Applicant 1 2 3 4 5 Sole Traders Partners Directors Salary Net Profit Abnormal Expenses Abnormal Income Other Income Rental Income PLUS ADDBACKS NON TAXABLE INCOME TOTAL TAXABLE INCOME Commitments Scenario Questions e Answer the questions with either Yes or No In All instances the default response is No e The first question Does LMI Capitalisation apply to this scenario determines what new loan fields need to be completed refer Input Sheet section below e The second question Is the LVR gt 90 excluding any capitalised LMI premium this question is designed to be an LVR check whereby additional information is provided if the answer is Yes e The last question Are the products LoDoc applies the relevant minimum serviceability ratio which also calculates the Maximum Borrowing Potential Figure 5 Commitments
2. ADDITIONAL BORROWINGS Loan Fees amp Charges LMI Cther Total LOAN DETAILS Introductory Rate TOTAL LOAN REQUIRED Loan Interest Rate Loan Details Select if an introduction rate is applicable default is No Introductory Rate Yes Select either a 6 or 12 month period Enter the initial Interest Rate Enter the Loan Interest Rate roll to date LOAN DETAILS Introductory Rate Yes Ho TUTAL LOAN REQUIRED Loan Interest Rate Introduction Rate No Enter Loan Interest Rate Version 2 0 Loan Amount to be Refinanced Page 17 of 18 gt AdelaideBank Net Surplus Calculator User Guide LOAN DETAILS Introductory Rate E No End Debt Details Either enter the actual selling cost figure if known OR select Calculate Selling Costs button Enter any funds that are being retained by the Customer END DEBT DETAILS Selling Costs Calculate Selling Costs Net Sale Proceeds Funds to be Retained by Customer CALCULATE Net Surplus Calculator Select the Calculate Button Note If all required fields have not been completed error messages will appear stating which fields require values to be entered The End Debt and End Debt LVR details will now be calculated and displayed Features Reset Button This will reset the Go Between sheet Net Surplus Calculator Button This will automatically select the Net Surplus Calculator page i buttons Next to each cell the
3. Scenario Questions scenario Questions Does LMI Capitalisation apply to this scenariolassessment O Yes Is the LVR gt 90 excluding any capitalised LMI premium Yes Are the product s LoDoc C Yes Version 2 0 Page 8 of 18 gt AdelaideBank Net Surplus Calculator User Guide Input Sheet The input sheet has been designed to contain all Commitments including any LMI component Rental Income is also recorded in this section for the purposes of aligning to respective Investment commitments Other related information is required depending on what type of product the new or existing commitment is Two commitments sections are available namely New and Existing commitment please see Commitments below There are several buttons in the Net Surplus Calculator sheet that will take you to the Input Sheet see figure 8 First point is in the rental section see figure 6 below Figure 6 Paths to the Input Sheet 1 INCOME Individual Applicant Annual PAYG 1 2 3 4 5 Gross add SCAM S fada Adaf 3Og Adad O Rental Income On this row the buttons will take the user to the Input Sheet The second point to the Input sheet is via the button in the commitments section shown in the figure below Figure 7 Paths to the Input Sheet 2 COMMITMENTS Figures shown are for serviceability purposes only Add New or Existing Commitments TOTAL NEW RESIDENTIAL LENDING EXISTING COMMITMENT 5 PER M
4. Ulap te TAS beg bi mea NO Ba al Bd Ue SHF TITAB no go ko iha paras Kei BORROWER Details Add New Commitment Last Appikark1 Applicant Type of Product Ha sg Applicant 3 r 2 Applicant 4 5 4 i m 7 Applicant 5 5 ommitment it Version 2 0 Page 5 of 18 gt AdelaideBank Net Surplus Calculator User Guide Household Details e Type inthe number of Adults and Children in the Household s Income Please note that if the Yes option is selected for Self Employed the PAYG section cannot be selected for those applicants The income details can be entered by either selecting the Calculate Corporate Self Employed Income button or by selecting the Corporate Self Employed Income Tab Annual PAYG e Enter the applicant s annual PAYG income in the Gross field Enter the applicant s share of Rental Income by clicking on Add button This will take you to Input Sheet refer figure 3 below for further details e Other income is for dividends commission and income from a second job and sustainable revenue from investments e All Addbacks including Company Car Car Allowance and all types of DSS income should be completed in the relevant field of the Addbacks for PAYG income section Figure 3 Income Buttons on this row will take the user to the Input Sheet Individual Applicant 1 2 3 4 5 Rental Income aga aaa ft A ia Other Income Annual PAYG Company Car Car Allowance DSS Other NON TAX
5. gt AdelaideBank Net Surplus Calculator User Guide Net Surplus Calculator User Guide Prepared by DLA amp HINDSIGHT REVIEW 05 2015 Version 2 0 Page 1 of 18 gt AdelaideBank Net Surplus Calculator User Guide Table of Contents 1 1 AA AA AA 3 1 2 ENTERING NEW APPLICATIONS INTO THE NET SURPLUS CALCULATOR ccecceccecceccecceccecccccecceceeuecaeceeeccesceecesesaees 5 1 38 Go BETWEEN CALCULATOR USER GUIDE c cccececcecccceccecececceccecceceaceceauenceueacecesueaceneguecesueasecesuecesueaescesueaeans 15 Version 2 0 Page 2 of 18 gt AdelaideBank Net Surplus Calculator User Guide 1 NSC Guide 1 1 Overview The Net Surplus Calculator acts as a determiner for a lender to assess the amount of surplus income in a particular loan application 1 What does the Net Surplus Calculator do The Net Surplus Calculator will calculate the following e Applicant s Serviceability Ratio Actual Surplus Income for the household e Applicant s Maximum Borrowing Capacity based on income only for Owner Occupied loans e LVR 2 Features of the Net Surplus Calculator The Net Surplus Calculator has the following features Will calculate Serviceability for up to 5 applicants Will calculate Net Income for individual self employed and corporate applicants Will calculate living expenses for up to 3 householders Calculates loan repayments at the contractual or floor rate depending on which
6. is higher Calculates Maximum Borrowing Potential for applicants based on their income 3 When can t the Calculator be used The Net Surplus Calculator can be used in most situations to calculate serviceability You will need to calculate Net Surplus Income manually when the following scenarios arise e There are more than 5 applicants e There are more than 3 households 4 How to use the Net Surplus Calculator The Net Surplus Calculator is contained within an excel spreadsheet and is based on the current release of Excel 2013 Please ensure macros are enabled in your version of excel The following information will be required Applicant Name s Applicant type e g PAYG self employed corporate and income details Number of adults and children in the household s Existing commitments Loan amount Loan term Loan contractual interest rate and Loan type Declared Living Expenses Total security value Version 2 0 Page 3 of 18 gt AdelaideBank Net Surplus Calculator User Guide Figure 1 Overview Net Surpins Calculator gt AdelaideBank Use the TAB key to move to the next field Use SHIFT TAB to go to the previous field Menu Reset Thursday 4 June 2015 BORROWER Details Self First Name Last Name Customer Type Employed Applicant 1 1 Applicant 2 Applicant 3 Applicant 4 Applicant 5 HOUSEHOLD Details Household Dependents 2 Adults Children INCOME Individual Applicant
7. ABLE TOTAL INCOME Calculate Corporate Self Employed Income NON TAKABLE TOTAL INCOME Corporate Self Employed The Corporate Self Employed income appears on the second worksheet of the Net Surplus Calculator This can be accessed either by selecting the Calculate Corporate Self Employed Income button or by selecting the Corporate Self Employed Income tab Version 2 0 Page 6 of 18 gt AdelaideBank Net Surplus Calculator User Guide Sole Proprietor or Partnership Select the Sole Proprietor or Partnership option located under the heading of Corporate Self Employed Income A tick will appear to confirm the selection and the relevant income fields will appear e The Sole Proprietor s Partner s salary or Director s salary is placed in the Sole Proprietor Partners Directors Salary field e The applicant s share of the Net Profit should be placed in the Net Profit field This includes the applicant s share of the Net Profit should be placed in the Net Profit field This includes the applicant s share of the Company Profit if they are a Company Director and the Company is not on the loan Please note Income from a Trust should also be completed in this section e Any one time significant expenses not consistent year on year to be entered into the Abnormal Expenses field e Any significant one time income generated not consistent year on year to be entered in the Abnormal Income field This amount will be a deduction to th
8. Annual PAYG 1 2 3 4 5 Gross Rental Income Baaj aaa Jaaaj aaaf aaa Other Income TAXABLE a ee ee Addbacks PAYG Annual PAYG 3 Company Car Car Allowance DSS Other NON TAXABLE TOTAL INCOME Corporate Self Employed Applicant 1 2 3 4 5 Calculate Corporate Self Employed Income NON TAXABLE TOTAL INCOME Scenario Questions Does LMI Capitalisation apply to this scenariolassessment Cj Yes Is the LVR gt 90 excluding any capitalised LMI premium LC Yes Are the product s LoDoc Oo Yes COMMITMENTS Figures shown are for serviceability purposes only Add New or Existing Commitments TOTAL NEW RESIDENTIAL LENDING EXISTING COMMITMENTS PER MONTH Other Mortgages NEW COMMITMENTS PER MONTH Security Value TOTAL COMMITMENTS PER MONTH Monthly Living Expenses Expense Per Month HEM Living Expenses Applicant Declared Expense Enter Notes CALCULATE Go Between Cakulator Men Important Information This calculator is provided for information purposes The calculations produced are intended for use by you as a guide only They do not constitute a quote or loan approval The calculator estimates loan serviceability based on the accuracy of information provided Adelaide Bank a Division of Bendigo and Adelaide Bank Ltd reserves the right to change its lending and assessment criteria at any time Actual loan serviceability can only be calculated once your application has been lodged Version 2 0 P
9. ONTH Other Mortgages NEW COMMITMENTS PER MONTH Security Value TOTAL COMMITMENTS PER MONTH HEM Living Expenses Applicant Declared Expense This button will also take the user to the Input Sheet Version 2 0 Page 9 of 18 gt AdelaideBank Net Surplus Calculator User Guide Figure 8 Input Sheet gt AdelaideBank Net Surplus Calculator Input Sheet Return to Net Surplus Calculator To begin adding commitments or rentals press Add New Commitment or Ba Commitment Add New Commitment aan anan Validation Guide Applicant Type of Product Amounti Limit LMI S Loan Term Contractual Rate Invest Loan Yes No 1 TL Remove Last Row Remove All Rows Add Existing Commitment Validation Guide Applicant Type of Product AmountiLimit 5 LMI Interest Only Yes No Invest Loan mitment Payment 1CC 2 000 00 8 Please note that LMI should be stated alongside the commitment Commitments New A new commitment is created by clicking the Add New Commitment button Once the button has been clicked a new row will appear To successfully complete the input of a new commitment please use the following methodology e The first column from left is the Validation Guide indicator which is always coloured red to start with however will turn green once all required fields have been populated i e once the Validation Guide field corresponding to the row where info
10. TAB key bo mae bo the ned field Ad la d B ea Tl k Line SHIFTITAB to go to the previous Tiekd Menu Reset Monday 13 November 2006 PROPERTY TO BE SOLD Outstanding Loan Loan Amount to be Amoun Refinanced Value NEW PROPERTY Established Dwelling Construction ADDITIONAL SECURITY Outstanding Loan Loan Amount te be Amoun Refinanced Value Property Being Purchased Construction Version 2 0 Page 15 of 18 gt AdelaideBank Net Surplus Calculator User Guide Enter the land purchase price Enter the deposit paid Enter the Construction Contract price Note Land purchase may not be required if land is included in the Constructing Contract price o Between Calculator Version 5 0 10 with EFM Wee ihe TAB key to move to the ned Teki Lise SHIFTITAB to go to the previous feid Menu PROPERTY TO BE SOLD Outstanding Loan Loan Amount to be Amount Refinanced Value NEW PROPERTY Established Dwelling Construction ADDITIONAL SECURITY Outstanding Loan Loan Amount to be Amount Refinanced Value Additional Security Enter the Property Value Enter the Outstanding Loan Amount OR the Loan Amount to be Refinanced Additional Borrowings if applicable Enter the loan fees amp charges Enter the LMI amount Enter any other funds to be borrowed Version 2 0 Page 16 of 18 gt AdelaideBank Net Surplus Calculator User Guide ADDITIONAL SECURITY Outstanding Loan Amount Value
11. age 4 of 18 gt AdelaideBank Net Surplus Calculator User Guide 1 2 Entering New Applications into the Net Surplus Calculator Borrower Details e Enter the applicants name s in the Given Names and Surnames fields e A drop down box will appear on the right hand side of Customer Type allowing you to select either Corporate or Individual e A drop down box will appear on the right hand side of Self Employed allowing you to select either Yes or No Figure 2 Borrower Details Net Surplus Calculator gt AdelaideBank Use the TAB key to mowe ko the nent field Use SHIFTITAE to go to the previous Field Menu Reset Thursday 28 May 2015 BORROWER Details First Hame Applicant 1 a Applicant 2 a 3 D This button will reset all current inputs Applicant 3 Applicant 4 Applicant 5 A maximum of 5 applicants can be input into the calculator HOUSEHOLD Details Household Dependents 4 3 3 Adults Children Applicant Please note that each individual applicant will be referred to by the corresponding applicant number see relational example below i e number of applicants will automatically be assessed depending on number of applicants populated Existing and new commitments will therefore be assigned to individual applicants If commitments or rentals are joint then apportion figures and information relating to each applicant as appropriate in each scenario Net Surplus Calculator
12. de Applicant Type of Product AmountiLimit 5 LIMI S Loan Term Contractual Rate Invest Loan Yes No Yearly Rental Income Product Description Optional 200 000 00 2 000 00 28 4 89 No To amend the row either change the information in the row or remove the entire row by clicking on the Remove Row button Figure 12 Existing Commitment Invalid Input Example 1 gt AdelaideBa Net Surplus Calculator Input Sheet Rental income Return to Net Surplus Calculator amount is missing To begin adding commitments or rentals press Add New Commitment or Add Existing Commitment Add New Commitment amor Late Last Row Remove All Rows Validation Guide Applicant Type of Product AmountiLimit 5 LMI Loan Term Contractual Rate Invest L4 Yearly Rental Income Product Description 4 Remove Last Row Remove All Rows Add Existing Commitment Validation Guide Applicant Type of Product AmountiLimit 5 LMI Interest Only Yes No Invest Loan Yes No Yearly Rental Income Monthly Commitment Payment Product Description Optional 1 400 00 Yes 200 000 00 3 000 00 No To amend the row either change the information in the row or remove the entire row by clicking on the Remove Row button Page 12 of 18 Version 2 0 gt AdelaideBank Net Surplus Calculator User Guide Results To view the Results select the Calculate Button The resul
13. e total taxable income e Other Income is for dividends commissions income from a second job or sustainable revenue from Investments e 100 of the applicant s share of the new and existing rental income should be placed in the Rental Income field The system will calculate 80 of the retail income for you e Any add backs should be placed in the relevant fields shown in the Plus Addback Non Taxable Income section Company Corporate Applicant types are used when the loan is in the name of the Company e Under the Borrower Details confirm the Customer Type selected is Corporate e Enter the Company s name in the First Name field Select the Company option located under the heading of Corporate Self Employed Income A tick will appear to confirm the selection and the relevant income fields will appear e Enter the Company s profit in the Company Profit field e Any one time the significant expenses not consistent year on year to be entered into the Abnormal Expenses field e Any significant one time income generated not consistent year on year to be entered in the Abnormal Income field This amount will be a deduction of the total taxable income e Other Income is for dividends commissions income from a second job or sustainable revenue from Investments e 100 of rental income received by the Company should be placed in the Rental Income field The system will calculate 80 of the rental income for you Where no Directors exist
14. eclared i e for rental income only a new Commitment row will need to be created and Loan amount inserted as zero All other related information will need to be filled in appropriately in order for validation to be completed e Joint applications implies there are 2 or more applicants party to the loan Accordingly any obligation liability should be appropriately apportioned to each applicant Note Key Considerations will be subject to Hindsight Review A copy of the Net Surplus Calculator is to accompany the relevant application and must be documented appropriately and in accordance with policy Version 2 0 Page 13 of 18 gt AdelaideBank Net Surplus Calculator User Guide PRINTING After calculating you can print the results by using the standard print methods within excel Please ensure that the Input Sheet is printed alongside any required print outs of the Net Surplus Calculator sheet as supporting evidence of the inputs made Note The Net Surplus Calculator Worksheet can be submitted to the Loans Centre in lieu of the Loan Serviceability Worksheet Please do not give this worksheet to customers SAVING An application can be saved using the standard excel options available If our preference is to save each application it is recommended to set up a folder within excel and provide an appropriate file name for retrieval ease BADGING Each page of the Net Surplus Calculator can be badged with any co
15. re is an i button which provides a detailed explanation of what is required in the next cell Version 2 0 Page 18 of 18
16. rmation is being input turns green no further information is required e Commence populating the Applicant with the relevant applicant number the commitment relates to e Populate the Type of Product field TL Term Loan LOC Line of Credit Other to be used where product not listed e The Type of Product field and Applicant fields always need to be populated Once the Type of Product and Applicant fields have been populated continue to input information that you have available for the type of product selected e Once the Validation Guide indicator turns green all required information has been populated please refer to the Validation Guide section of this document for examples of inputs Existing An existing commitment is created by clicking the Add Existing Commitment button Once the button has been clicked a new row will appear To successfully complete the input of a new commitment please use the following methodology e The first column from left is the Validation Guide indicator which is always coloured red to start with however will turn green once all required fields have been populated i e once the Validation Guide field corresponding to the row where information is being input turns green no further information is required Version 2 0 Page 10 of 18 gt AdelaideBank Net Surplus Calculator User Guide e Commence populating the Applicant with the relevant applicant number the commitmen
17. rporate logo The dimensions are 1 5cm x 2 5cm same dimensions as the statement logo A logo can be replaced quickly and easily Click on an existing logo from any page and select Open from the option box that automatically appears and locate your file Note Your logo may appear out of proportion if it does not fit the dimensions specified above If you are unable to change your logo s actual proportions you can modify the picture file to a size that will fit BUTTONS Throughout various sections of the calculator there is an I icon When selected this will provide more information in relation to either what is required in the cell or what the cell does or will display Ap Version 2 0 Page 14 of 18 gt AdelaideBank Net Surplus Calculator User Guide 1 3 Go Between Calculator User Guide WHAT DOES THE GO BETWEEN CALCULATOR DO The Go Between Calculator will calculate the following e The peak debt and peak debt LVR e The end debt and end debt LVR HOW TO USE THE GO BETWEEN CALCULATOR Property to be Sold Enter the current value of the property Enter either the outstanding loan amount OR the loan amount to be refinanced New Property Select either Established Dwelling OR Construction default is Established Dwelling Property Being Purchased Established Dwelling Enter the purchase price Enter the deposit paid Go Between Calculator a a Version 5 0 10 with EFM LA ine ika
18. st Loan Yes No Yea 1 TL 200 000 00 52 000 00 28 10 3 year 4 89 No Version 2 0 Page 11 of 18 gt AdelaideBank Net Surplus Calculator User Guide Figure 10 Existing Commitment Valid Input Example 1 7 Please note that Net Surplus Calculator Input Sheet NASA stated alongside Return to Net Surplus Calculator the commitment To begin adding commitments or rentals press _ Add New Commitment or Enotes Add New Commitment Aimer Leste td Remorse Button to Validation Guide Applicant Type of Product Amount Limit LMI Loan Term factual Rate Product Descriptio remove individual rows 1TL 200 000 00 52 000 00 Remove Last Row Remove A Add Existing Commitment Validation Guide Applicant Type of Product Amount Limit LMI Interest Only Yes No Invest Loan Yes No Yearly Rental Income Monthly Commitment Payment Product Description Optionai Rethove Row 3 1TL No 5200 000 00 53 000 00 No 51 400 00 B Please find examples of invalid inputs below Figure 11 New Commitment Invalid Input Example 1 Net Surplus Calculator Input Sheet Information as to whether itisa P amp I or IO loan is Return to Net Surplus Calculator missing To begin adding commitments or rentals press _ Add New Commitment or Add Existing Cong Add New Commitment _bemere Latent bwesit Validation Gui
19. t relates to e Populate Type of Product field TL Term Loan LOC Line of Credit PL Personal Loan CC Credit Card Other Commitments supplementary to those listed and which will continue following loan approval E g lease payments guarantor obligations child support payments HECs taxation obligations rent board The Type of Product field and Applicant fields always need to be populated e Once the Type of Product and Applicant fields have been populated continue to input information that you have available for the type of product selected e Once the Validation Guide indicator turns green all required information has been populated please refer to the Validation Guide section of this document for examples of inputs Validation Guide As mentioned above the Validation Guide column is designed to be the first point of check however this does not replace the lenders own validation and precautionary checks Please find examples of valid inputs below Figure 9 New Commitment Valid Input Example 1 Please note that LMI should be stated alongside Net Surplus Calculator Input Sheet the commitment Return to Net Surplus Calculate ae A or Add Existing Commitment To begin adding commitments or rentals press Add Ng Add New Commitment Remove Last Row Remove A Validation Guide Applicant Type of Product Amounti Limit LMI Loan Term PANO Contractual Rate 9o Inve
20. ts LVR Serviceability Ratio Actual Surplus Income and Maximum Borrowing Potential for either Full Doc or Lo Doc Products will automatically calculate once all required fields have been entered A validation check will provide an error message if any required fields are not entered Note The maximum borrowing field that appears on the Results screen is only applicable for owner occupied and investment loans Maximum borrowing potential has been calculated over 25 and 30 year term Please use the result relevant to your case and product Contractual Interest rate for the maximum borrowing amount is determined from an average calculated from the LOC and TL rate The average interest rate is calculated as following Loan amount 1 interest rate 1 Loan amount 2 interest rate 2 Loan Amount 1 Loan Amount 2 Average Interest Rate A Notes section has been included to make any case notes appropriate This can be accessed by selecting the Enter Notes button and the notes can be hidden by depressing the same button Hide Notes On the pressing reset function the notes will be cleared Loan to Valuation Ratio Serviceability Ratio Monthly Actual Surplus Income Maximum Borrowing Potential 25 yrs 382 784 25 yrs Maximum Borrowing Potential 30 yrs 405 1 69 30 yrs aah mala CALCULATE Go Between Calculator Menu Key Considerations e Each separate commitment or rental component will need to be d
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