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Mortgage advisers can store all of their client’s loan details in one place. Rather than projecting those same interest rates through the entire life of the loan, indicating a long run interest rate assumption can improve the accuracy of the graphs over the long term. Additional assumptions such as capital gain and inflation can also be adjusted to suit each client.
Show your client in real-time how quickly they could be debt free. Once the other sections have been completed, surplus funds are automatically applied to the debt, illustrating what is theoretically possible. Looking forwards, you can include costs for major renovations, modelling a mortgage top-up to cover the projected costs. When they are ready to sell, the property future value calculator indicates what their home might be worth given the capital gain over that time.
Where client’s don’t own a home yet, but are looking to buy, a first home purchase can be modelled for a few years away. The software automatically calculates how much savings might be available for a deposit, and you can withdraw from their KiwiSaver balance too.
Buying a home is the biggest financial decision many people will ever make, and understandably they want to have as much information as possible to support their decision. Planolitix can model all the long term implications, beyond just whether they can service the loan now. Is there enough time before retirement to rebuild KiwiSaver savings, or will there be other assets to support retirement? What difference does it make if they borrow less? Use the scenario-builder to show clients all their options.
QUICK-TIP: Our long-term property assumptions are based on national averages reported for the last 30 years. They’re designed to be a good point to get you started, but these can be changed to be more or less conservative to suit your clients preferences.