We've updated the calculations in the borrowing capacity calculator for Bankwest, NAB and Westpac. To support these improvements we've made some changes to how the borrowing capacity results are displayed.

We've split the comments out in to separate columns so that they're easier to read. And we've also added some additional columns that apply to the calculations performed by Connective.

Product Rate, Buffer Rate and Assessment Rate

For Connective performed lender calculations (Bankwest, NAB and Westpac) you will notice the Product Rate and Buffer Rate columns in your results.

• Product Rate = product base rate
• Buffer Rate = is applied when calculating serviceability as determined by ASIC

For these three lenders Connective uses the actual Product Rate + 3% (buffer) to determine the Assessment Rate which returns an accurate within $ result when compared to the lender calculators themselves.

Monthly Surplus

We've also added the monthly surplus column for Connective performed calculations:

• Monthly surplus = amount remaining after loan and expenses have been paid. (This column is hidden by default, but it can be added to the display by enabling in the column preferences)

Living Expenses vs. Total Expenses

For all lenders you will notice changes to the Living Expense column and the addition of the Total Expenses column.

Living Expenses =

• for calculations performed by Connective this column will list HEM for each lender
• for calculations performed by NextGen this column will show the NextGen returned expense value - this is no different to what is currently being displayed

Total Expenses =

• for calculations performed by Connective this column will total the basic living expenses compared against HEM and taking the higher of the two + additional living expenses + existing loan repayments
• for calculations performed by NextGen this column will total the NextGen returned expense value + additional living expenses + existing loan amount

DTI (Debt to Income ratio)

For Connective performed lender calculations you will notice the Borrower(s) DTI column. 

• Borrower(s) DTI = will list DTI % for lender calculations performed by us

We've got more coming in this space, check out the Connective wiki.

Learn more about these changes on the Connective wiki