Use this article to record a client splitting their securities between two banks in Trail, so each property secures lending with the right lender. Clients with multiple securities sometimes split their properties across different banks to diversify risk.
How do I select which securities move to the new bank?
1. Complete the fact find as normal.
2. In the Application section, open the Funding Details page and make sure the key details, funding required, and Cash & Equivalents sections are filled in correctly.
3. Underneath those you'll reach the Security section. Select only the securities that will be moved to the new bank.
4. Check the LVR. It's calculated only against the securities you selected, so it should reflect the lending position at the new bank.
Any properties you don't select stay as security with the bank that currently holds them.
Questions about splitting securities in Trail?
Get in touch at support@gettrail.com, or use the chat button in the bottom right of the screen.