Detailed Report on Finance and Mortgage Broking Practices

This report provides an overview of finance and mortgage broking, focusing on home loan products and sales strategies. It details the features and benefits of home loans, such as extra repayments and redraw facilities, and presents a sample sales interaction highlighting key loan terms and customer inquiries. The report includes a log of customer contacts, their responses to a home loan offer, and an assessment of their interest levels. It also includes a list of references used to gather information on home loan features and benefits, providing a comprehensive view of the broking process and customer engagement.

Finance and Mortgage
Broking

TABLE OF CONTENTS
MAIN BODY...................................................................................................................................3
1...................................................................................................................................................3
2...................................................................................................................................................3
3...................................................................................................................................................4
4...................................................................................................................................................4
5...................................................................................................................................................5
REFERENCES................................................................................................................................6

MAIN BODY
1
Financial product - Home loan
Features Benefits
The feature of home loan being taken involves
extra repayment (Home loan features in a
nutshell, 2021). This facility involves making
an additional payment relating to the mortgage
over their regular payment for bringing down
the principal and make less interest payment.
The most important advantage of taking
home loan is that the person can make their
dream house in easier manner.
Another feature is of redrawing the facility
wherein the person can redraw the expenses
which arises sometime later.
Another benefit is that the house loan is a
subject to low interest rates and this is
beneficial for the borrower.
In addition to this, another feature is of split
rate that is person can select for fixed rate or
the variable rate.
Along with this, another benefit is that
paying off the loan is faster as the person can
pay extra each week or month and this
reduced the term of loan (Benefits of home
loans with unlimited additional repayments,
2021).
2
Sales person: hi sir good afternoon
Person: hello, good afternoon
Sales person: I am Sam working with XYZ bank.
Person: great how can I help you?
Sales person: we have a new home loan facility and I would like to share the details of the loan
with you.
Person: please go ahead
Sales person: we are providing the home loan with facility of both fixed and variables rates of
interest. Along with this there are also different repayment methods which can be used.

Person: good but what is the term of the loan?
Sales person: the term of loan depends on you and your requirement only.
Person: that good but how can I gather more detailed information relating to the loan?
Sales person: you can ask me anything and can contact at any time. Also you can gather the
information from our official website.
Person: ok I will let you know in sometime about my response.
Sales person: thank you, hoping to see your prompt response.
3
Name Contact Number Relationship to you
Harry [phone] Unknown
Oliver [phone] Unknown
Jacob [phone] Unknown
Lily [phone] Unknown
Jessica [phone] Unknown
Williams [phone] Unknown
Taylor [phone] Unknown
Martina [phone] Unknown
Sophia [phone] Unknown
Emily [phone] Unknown
4
Name Date and time Record
Harry 21 December 2021, 2.30 pm Provided details of home loan
and got positive response
Oliver 21 December 2021, 2.45 pm Shared little detail of product
as person was not interested
Jacob 21 December 2021, 3.05 pm Shared the home loan
brochure
Lily 21 December 2021, 3.15 pm Showed a little interest in

product
Jessica 21 December 2021, 3.35 pm Communicated the details but
no response yet
Williams 21 December 2021, 3.55 pm Person was interested in
talking
Taylor 21 December 2021, 4.10 pm No interest of person in home
loan
Martina 21 December 2021, 4.25 pm Shared all details but the
person was confused.
Sophia 21 December 2021, 4.55 pm Not at all interested in home
loan
Emily 21 December 2021, 5.15 pm Was confused
5
Name Sales response
Harry Yes
Oliver No
Jacob Not sure
Lily Not sure
Jessica No response
Williams Yes
Taylor No
Martina Not sure
Sophia No
Emily Not sure

REFERENCES
Online
Benefits of home loans with unlimited additional repayments. 2021. [Online]. Available through:
<https://www.loans.com.au/home-loans/variable-rate/benefits-of-home-loans-with-
unlimited-additional-repayments>
Home loan features in a nutshell. 2021. [Online]. Available through:
<https://mozo.com.au/home-loans/resources/guides/home-loan-features-in-a-nutshell/12>