Should a client wish to split their loan between fixed and variable, for example, then it can be done from the original loan using the "Split" option which is found in the Work Area Summary Header under the [Actions] button.
From the Summary or Edit view in the Work Area Summary Header on the left of the Work Area
- Click [Actions]
- Select {Split} to open the Split Finance window.
- When you select this it will default to the previous loan settlement date and information. If the loan is just a split off the old loan, put the “Loan Amount” as $0 as we will track the value from the original where this will allow us to track ongoing balance and interest rate reviews etc.
- Click [OK] to save
This will link the new split to the original loan and you will be able to move between them using the new Split Loan option highlighted below. The Split Loan option is visible in both Summary and Edit views.
- Split Loan indicator - only visible if split.
- [Previous Split] and [Next Split] - move between the two split loans.
You can only split a loan once, so you can not split a loan that has already been created by a split. The {Split} option will be greyed out in the actions list. You can however create a split of an already split loan. Select the split loan and the {Split} option will available under the [Actions] button.
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