As a Loanapp user, you are able to nominate when property expenses such as mortgage repayments tied to an investment property are eligible for negative gearing benefits. This flag is then used to trigger the use of ANZ negative gearing logic in the Credit Decisions Platform/serviceability outcome.
How do I flag negative gearing for a property/mortgage?
For Existing (already owned) properties
In Loanapp, when you are entering the applicant's existing property details in their current financial position, there are three different sections of data that can be added for the property:
the property details,
any income (rental) for that property,
and any mortgage against that property.
To flag that the mortgage repayments are to be considered negatively geared when you are entering the details for the mortgage, you need to tick the 'negatively geared' tickbox on the mortgage liabilities section:
By ticking this box, you are setting the mortgage repayments on this mortgage/property to be treated with ANZ's negative gearing logic in the serviceability calculations.
For New Properties (being purchased as part of the application).
Where an applicant is purchasing a new property as part of the application, you will first enter the new property details in the Securities element of the Loan and Serviceability section of Loanapp.
You will then complete the details for the new loan being applied for. If the Primary Purpose for this new loan is for Investment, you can flag that this new loan (and repayments) is to be treated with negative gearing:
