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Client Interview Project

 Assessment Task 2 of 2 ( Client interview project )


Carefully read the following:

You are working as a Mortgage Broker at Morgan Mortgages, and you have been assigned an appointment with two new clients. They are a couple with one child in school. They have been living in Australia for five years and are fully naturalized Australians, but English is a second language for both of them.

One of them has received some money in inheritance and they have decided to purchase some land and build a house on it as an investment property. They have found a property nearby that they are interested in. The land is on the market for $200,000, and they have a quote to build the house for $250,000.

They were going to go to their bank, but a friend recommended Morgan Mortgages could find them a better deal than at their bank. They have discussed the project over the telephone with one of Morgan Mortgages’ brokers, who completed a Fact Find and selected three construction loans that would be appropriate for Mrs. and Mr. Lee.

The clients have a meeting with you to discuss the construction loan options. You are required to use your communication skills to ensure that the clients have a full understanding of the loans that you are presenting to them.

Complete the following activities:


2.1. Prepare for client interview.

Review the following Morgan Mortgages documents:

· Completed Fact Find

· Client Information

· Fees and Charges

· Client Options Report

· Agreement to Proceed Template

· Client Meeting Record Template

Use the internet to find information on the three construction loans included in the Client Options Report. You will need to be familiar with these, so you can explain them well to the clients. Review the lenders’ products, services and features, ensuring that they could suit the clients’ needs. Gather the relevant product information and any support material.

Research and calculate every aspect of each loan for the client, including the amount, the term, interest rate as well as the associated fees and charges. You may calculate the stamp duty for NSW, as this is given as the case study client’s address, or you may calculate it for the state where your RTO is situated, but you must make this clear in the document.

Organize all of the information clearly and concisely. It should be prepared in a manner that is appropriate to the clients’ needs and level of understanding.