How do I access the lender Apply Online variation form?
If the lender uses Apply Online to submit variations you can convert the application via the Convert Application drop down field in the Summary tab.
Do all lenders use Apply Online variation forms?
No, not all lenders have a separate Apply Online form for variations. If the lender does use an Apply Online variations form there will be a Convert Application option available in the Summary tab.
Can I start an Apply Online variation from the Nexus opportunity?
No, you can not currently specify variation when starting Apply Online from a Nexus opportunity record. It will generate a standard Apply Online Loan Application which you would need to convert to a variation.
How do I enter the existing mortgage in the Apply Online variation security tab?
The existing mortgage information for the current lender which the variation is on is entered into the Loan Details tab. In the Security tab these existing mortgages will be displayed and can be selected using the radio buttons.
Do not use the Other Loans radio button for existing loans with the lender you are lodging with. The Other Loans radio button is only for mortgages from other lenders.
Why is Pay Out and Close selected in the loan details tab?
With some lenders certain variation types will automatically also select Pay Out and Close in the Loan Details tab. This relates to submission criteria for the lender. If you require clarification you will need to contact the lender directly.
The variation is using the old Apply Online user interface?
NextGen is still in the process of working with the various lenders to move to the new user interface. The variation application forms are all still using the older user interface.
Can I submit an Apply Online variation and new loan application in the variation form?
No, you cannot use the variations form for any new loan applications which are part of the overall submission. New loan applications can only be submitted via the lenders standard Apply Online application form.
One work around is to use the lenders standard Apply Online application form. Add the existing mortgage and select Other as the lender and create a new lender name for the lender in question. This will allow to submit your new loan application and variation in the same submission.
Note: Where a work around is required we recommend discussing with the lender BDM prior to submission.