You want to get your client the best deal, but you don’t want to spend hours searching through products. Mercury Nexus streamlines the process for you. Our Product Comparison calculator allows you to compare lender and product details, including rates, repayments and fees in seconds.
To learn how to create a Package or Product Split. Learn more here.
How do I compare individual products in Mercury Nexus?
You can create a standard Product Comparison calculation via the Opportunity or the Research app. To do this:
Open the CRM app and select Opportunities from the main left-hand menu.
Highlight and open the relevant opportunity.
Select Calculations from the sub-left-hand menu.
Use the +Add drop-down to select Product Comparison.
You can also open the Research app and select Product Comparisons from the main-left-hand menu. Use the + button to open a new calculation.
The Select Products window will appear:
Use the filters to customise your search parameters:Product Name (Only add this if you know the exact name)
Lenders. (Lenders included as per your Lender filters)
Rate Types (SVR, Fixed, Line of Credit, etc).
Product Features (Interest only, Redraw, Construction, etc).
Every Selected Feature: returns all the selected features. Ideal for situations where precision is non-negotiable.
Any Selected Feature: returns products that possess one, two, or all of the selected features.
Product Types (Commercial, SMSF, Non-conforming, etc).
Loan Purpose (Owner Occupied, Investment, both).
Full Doc/Low Doc.
Security Type (Residential, Rural, etc).
Loan Amount.
LVR.
Filter by LVR (checked by default).
No LMI (unchecked by default).
Click Run Search.
Select the products to compare by ticking the checkbox and click Use Products.
Note: Your chosen products will be displayed side-by-side, allowing you to easily compare them. It is recommended to use between 3-5 lenders in the comparison.
Tip: If you select every feature and 'Any selected feature' you will see all products
You can update the fields in the left-hand panel to apply changes to all products, or update the fields in each product individually.
Note: The Loan Term and Projection Term fields are measured in Years. You cannot use Month values.
Note: You cannot export the list of Product Search results into excel.
Additional Lender Special Notes
Hover over the gold star in product lists to see specials and additional information from the lender.
Product Comparison Field Definitions
Default Loan Cost : This is the total cost of the loan over the full default 30 year loan term (Interest + Fees)
Total Loan Cost : This is the total cost of the loan including any changes you have made . If you have not made any changes then it will match the Default Loan Cost.
Savings (vs default) : This is Default Loan Cost minus Total Loan Cost. This figure demonstrates the value of the potential changes you can make on a given product.
Comparative Saving : The amount is the difference between that product’s total cost and the most expensive product on the right. As you make adjustments, the order will automatically update to ensure the lowest cost product remains on the left.
Note: Your products are displayed left to right in order of comparative savings.
Note: Some lenders use different default loan terms. If you see Savings vs default numbers before making changes or very high figures compared to other products, check the lender for it's default loan terms for that product (example UBank is 35 years, Pepper has some 40 year loan term options).
Repayment Frequencies Explained
Monthly : Required monthly amount to repay over the total loan term (Default 30 years)
Fortnightly : Required fortnightly amount to repay over the total loan term (Default 30 years)
Weekly : Required weekly amount repay to over the total loan term (Default 30 years)
Fortnightly Acceler : The monthly repayment amount divided by two paid every two calendar weeks
Weekly Acceler : The monthly repayment amount divided by four two paid every calendar week
Note: The accelerated repayment options lower the loan term, the client pays less interest and recurring fees as a result.
Note: Some lenders may not offer all repayment frequencies.
To learn how to create a Package or Product Split. Learn more here.