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Matthew Garrett

Matthew Garrett

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We have been investigating an issue where we have observed an inconsistency with an application being submitted to the NAB. We were working with a a client recently who had obtained a quote from NAB and could not get it to reconcile with TFS.

The quote was 



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We enter the finance information in as follows to match the quote

Amt financed excluding brokerage = $200,000.

Total brokerage = 1298.07

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We then enter the Wholesale base rate and term

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When I solve for repayments we see a 0.0064 variation in the effective rate on the NAB quote.

There is a $0.56 variation in the single repayment value.

This results in a $33.60 difference in the total amount payable.

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If the deal was submitted to Westpac we get an exact match with TFS.

This against the NAB quote

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