Purchasing a property via a Look-Through Company (LTC) is common practice in New Zealand. If your Application involves a LTC, structure the data in Loanapp in the following way.

1. Navigate to Company Applicants by selecting Current Situation

2. Then Company Applicants

3. Click on 'Add Company Applicant' and choose to add them as a Borrower

1. You will be presented with a number of blank fields. All fields with red boxes are mandatory and must be complete. For more, see How to add a Company Applicant as either a Borrower or Guarantor.

2. As you work through the company's information, you will see the field
Registered for LTC.

If there is no validation error message the Lender accepts applications for non-LTC companies.

Selecting "No" may cause a validation error, such as the one in the example below. Dependent on the validation error message, you may need to refer to the Lender's Policy to confirm if they accept non-LTC Company Applicants.

Generally when purchasing a property through an LTC, Person Applicants will need to be added to the application as Guarantors. To do so:

1. Navigate to Person Applicants

2. Click on 'Add Person Applicant' and choose to add them as a Guarantor

3. Enter the Person Applicant's information, including Contact & Other Details, Employment and Proof Of Identity. All fields with a red border are mandatory and must be complete. For more information see How to add a Person Applicant.

4. If there is more than 1 Guarantor, repeat the steps in Step 3.

Note: You must enter all the Person Applicant's Employment and Income information as this will be used when calculating serviceability.

1. Set the number of Shareholders

2. Select the Shareholders and enter their % owned

Complete the sections within Assets and Liabilities to add:

1. Navigating to New Requirements

2. Then New Purchases

3. Add the a Property

4. Enter the Purchase Property's information. For more information see How to add a New Security Property.

5. You are able to enter the Ownership Proportions as required. If the New Security Property is to be 100% owned by the LTC, you should select Specified and then enter 0% for the Guarantors and 100% for the LTC.

1. Navigate to New Requirements

2. Then New Loans

3. Add a Loan Account

4. Select the Loan Product you wish to add

5. Enter the Loan Account's information. For more information see How to add a New Loan.

Complete the remainder of the Application by adding Contribution Funds (if required) and adding an Application Comment in the Summary Tab.

You can then check Serviceability, Generate the Checklist and Print Forms, Upload Lender Docs and Submit the Application by navigating through the File Tab.