diff_months: 17

FNS50315: Diploma of Finance and Mortgage Broking Management - Finance Assignment Help

Get 25% Off Order New Solution
Added on: 2020-07-10 10:09:05
Order Code:
Question Task Id: 0
  • Subject Code :

    FNS50315

Connect with FNS50315 Expert Now

Assignment Task:

Overview

The purpose of this task is to allow you to demonstrate that you can complete the major steps required in broking or writing a moderately complex loan for a customer – through identification, development and implementation of loan options while assessing and managing risks. The samples in Appendix a) and b) will prove helpful. Remember that what you prepare would, in the real world, need to be presented to the client orally and thus must be understood by them.

INSTRUCTIONS

Read the scenario provided and using the information and data supplied, prepare a formal loan submission for a lender using the following headings. Use subheadings where appropriate to ensure your submission will be easily read and understood by the lender. 

The client file should contain the standard client information and data that would be included in a typical submission for a loan of this complexity. Your lender submission should include as a minimum the following headings: 

1. Borrower’s Details

2. Background

3. Loan Purpose

4. Facility Details

5. Funds Position

6. Servicing Capacity

7. Security

8. Risk Assessment and Management (according to lender policy, guidelines and relevant legislation). Consideration must be given to any environmental, heritage or native title implications

9. Recommendations

10. List of Attachments

SCENARIO 

Andrew Bisset has been a real estate agent for over 20 years and jointly with his wife Jane own 6 shops at 55 Park Road, Belmont. Mr and Mrs Bisset own the shopping centre under the Bisset Family Trust. The property was valued 2 years ago at $1,450,000 and has a current ABZ Bank Mortgage of $625,000. 

Five of the shops are rented out for $96,000. The sixth shop is occupied by Mr Bisset’s real estate business, Bisset’s Real Estate Pty Ltd, which pays annual rental of $42,000 to the family trust. For tax purposes Bisset’s Real Estate pays rent which is $20,000 in excess of the fair market rental value of the shop it occupies. 

Bisset’s Real Estate Pty Ltd was formed at the beginning of the last financial year to take over the real estate agency business, which was previously conducted by a partnership between Mr Bisset and Joseph Hooper. Bisset’s Real Estate Pty Ltd took over the business when Mr Hooper retired and Andrew Bisset is the sole director of Bisset’s Real Estate Pty Ltd. 

Mr and Mrs Bisset now wish to acquire 3,000m2 of land near their existing shopping centre and hold it for 1 – 2 years pending rezoning. The purchase price is $600,000. The land was previously used as a State Government Health and Dental Centre, but the building was demolished when it became obsolete. The land is currently zoned ‘Special Purpose’, but the local council earmarked the land for future ‘Commercial’ use in it recently released Town Planning Scheme. The land is located at 423 Belmont Road, Belmont and has a two street frontage with considerable passing traffic. 

The Bissets have contracted to purchase the property in their capacity as trustees of their family trust and settlement is due with 60 days. They wish to raise 100% of the purchase price plus $25,000 for stamp duty, financing and conveyancing costs. They are willing to offer both the land and their existing shopping centre as security for the proposed loan. They will contribute a further $20,000 over the next 1-2 years to cover the costs associated with re-zoning of the property and obtaining approval to develop another shopping centre. 

Unfortunately ABZ Bank policy does not allow them to lend against land zoned ‘Special Purpose’ and cannot assist with the purchase. The Bissets have appointed you to approach an alternative lender to refinance their ABZ Bank Loan and obtain the additional funds required. 

Assume an interest rate of 7% for a commercial loan, 9% for an overdraft. 

This FNS50315: Finance Assignment has been solved by our Finance Experts at TVAssignmentHelp. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.

  • Uploaded By : Alex Cerry
  • Posted on : July 10th, 2019
  • Downloads : 0

Order New Solution

Review Question

Please enter your email

Can't find what you're looking for?

This Christmas, The Most Magical Time of The Year, save up to 65% on Our one-to-one Academic Assistance.

Grab Now
cancel

Choose a Plan

Premium

80 USD
  • All in Gold, plus:
  • 30-minute live one-to-one session with an expert
    • Understanding Marking Rubric
    • Understanding task requirements
    • Structuring & Formatting
    • Referencing & Citing
Most
Popular

Gold

30 50 USD
  • Get the Full Used Solution
    (Solution is already submitted and 100% plagiarised.
    Can only be used for reference purposes)
Save 33%

Silver

20 USD
  • Journals
  • Peer-Reviewed Articles
  • Books
  • Various other Data Sources – ProQuest, Informit, Scopus, Academic Search Complete, EBSCO, Exerpta Medica Database, and more