Use this guide to calculate your client’s full funding position in Mercury Nexus, including loan amount, security value, loan-to-value ratio (LVR), lenders mortgage insurance (LMI), stamp duty and government fees. You can create a funding position from an opportunity or as a stand-alone calculation in Research.
Create a funding position from an opportunity
Use this method when working within an active opportunity.
Access the funding position tool
Open the CRM app.
Select Opportunities from the left-hand menu.
Open the relevant opportunity.
Select Calculations from the sub-menu.
Select +Add and choose Funding Position.
Set up the calculation
Enter a calculation name.
Select First Home Buyer or Foreign Buyer if relevant.
Use +Fund and +Debt to enter loan amounts, existing debts and contributions.
Select the LMI calculator to record lenders mortgage insurance if applicable.
Enter property details on the right-hand side.
Use +Property to add multiple securities if required.
Note: The Funding Summary updates automatically based on the data entered. A green total indicates a surplus. A red total indicates a shortfall.
Apply the calculation to the opportunity
Once complete, select Apply to Opportunity.
This updates:
Loan Amount in Opportunity details
Security Amount in Opportunity details
Note: If a single lender product is selected in the Products section, the Loan Amount will also update there. If multiple loan products are selected, such as a package, you must update the loan amounts manually.
If multiple products exist, you will see this message:
Opportunity contains multiple Loan Products - you will need to apply this one manually.
The funding position automatically attaches to the opportunity for future reference.
Create a stand-alone funding position in Research
Use this option for scenario modelling or when no opportunity exists yet.
Access the funding position tool
Open the Research app.
Select Funding Positions from the left-hand menu.
Select + to create a new calculation, or Clone to duplicate an existing one.
Complete the calculation
Enter a name.
Select First Home Buyer or Foreign Buyer if relevant.
Use +Fund and +Debt to enter financial details.
Record LMI via the LMI calculator if required.
Use +Property to enter security details.
Note: In stand-alone calculations, security fields appear after you begin entering data.
The Funding Summary will automatically calculate the overall position. You can attach the completed funding position to an opportunity when required.
How fees are calculated
Mercury Nexus calculates government fees using State Revenue Office data. Fees are based on the contract date entered.
Fees include:
Purchase stamp duty
Foreign buyer surcharge
Transfer fees
Registration fees
Note: Fees are based on current State Revenue Office data and cannot be overridden. Historical contract dates may not calculate correctly.
First home buyer and vacant land scenarios
When creating a funding position for a first home buyer purchasing vacant land, set Security Type to To Be Built.
This ensures the correct stamp duty concession is applied.
First home buyer guarantee scheme applications
For First Home Buyer Guarantee Scheme applications, use the full LVR.
The lender provides a government-backed guarantee which removes the need for LMI at lodgement. The actual borrowed amount remains unchanged.
Enter a bridging loan scenario
To model a bridging loan:
Add one security with Transaction Type = Sale.
Add another security with Transaction Type = Purchase.
Use the same contract date for both.
Refinance existing land loan with new construction
For construction applications involving land refinance:
Select Security Type = To Be Built.
Select Transaction Type = Refinance.
Add construction costs as a Debt.
Also enter the amount in the Construction Costs field within the security.
This ensures the total exposure and LVR calculate correctly.
Enter a cash out scenario
When modelling a cash out, include the cash out amount in the Funding Summary position.
Ensure total loan funds reflect both refinance and cash out components.
What happens next
After applying the funding position:
Review the updated Loan Amount and Security Amount fields.
Confirm the selected product aligns with the calculated LVR.
Proceed to product selection or submission.
Need help?
If you need help creating or applying a funding position in Mercury Nexus, contact your Partnership Manager or email [email protected].