AU2018101796A4 - An Online Home Loan Comparison Calculator with added functionality, allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount. The Solar Home Loan Calculator allows the user to compare 2 different loan amounts with 2 varying or equal interest rates, showing a net loss or gain in terms of loan payments. The calculator also allows the user to input the electricity savings generated by the Solar PV System in dollar terms, as extra loan repayments, illustrating the reduction in overall home loan interest payable, loan term & LVR. - Google Patents
An Online Home Loan Comparison Calculator with added functionality, allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount. The Solar Home Loan Calculator allows the user to compare 2 different loan amounts with 2 varying or equal interest rates, showing a net loss or gain in terms of loan payments. The calculator also allows the user to input the electricity savings generated by the Solar PV System in dollar terms, as extra loan repayments, illustrating the reduction in overall home loan interest payable, loan term & LVR. Download PDFInfo
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- AU2018101796A4 AU2018101796A4 AU2018101796A AU2018101796A AU2018101796A4 AU 2018101796 A4 AU2018101796 A4 AU 2018101796A4 AU 2018101796 A AU2018101796 A AU 2018101796A AU 2018101796 A AU2018101796 A AU 2018101796A AU 2018101796 A4 AU2018101796 A4 AU 2018101796A4
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- loan
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- solar
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
- G06Q40/02—Banking, e.g. interest calculation or account maintenance
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- G—PHYSICS
- G06—COMPUTING; CALCULATING OR COUNTING
- G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
- G06Q50/00—Systems or methods specially adapted for specific business sectors, e.g. utilities or tourism
- G06Q50/10—Services
- G06Q50/16—Real estate
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- Y—GENERAL TAGGING OF NEW TECHNOLOGICAL DEVELOPMENTS; GENERAL TAGGING OF CROSS-SECTIONAL TECHNOLOGIES SPANNING OVER SEVERAL SECTIONS OF THE IPC; TECHNICAL SUBJECTS COVERED BY FORMER USPC CROSS-REFERENCE ART COLLECTIONS [XRACs] AND DIGESTS
- Y04—INFORMATION OR COMMUNICATION TECHNOLOGIES HAVING AN IMPACT ON OTHER TECHNOLOGY AREAS
- Y04S—SYSTEMS INTEGRATING TECHNOLOGIES RELATED TO POWER NETWORK OPERATION, COMMUNICATION OR INFORMATION TECHNOLOGIES FOR IMPROVING THE ELECTRICAL POWER GENERATION, TRANSMISSION, DISTRIBUTION, MANAGEMENT OR USAGE, i.e. SMART GRIDS
- Y04S10/00—Systems supporting electrical power generation, transmission or distribution
- Y04S10/50—Systems or methods supporting the power network operation or management, involving a certain degree of interaction with the load-side end user applications
Abstract
Abstract (57) An Online Variable Home Loan Comparison Calculator with the added functionality of allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount and reinvesting the electricity savings generated by that Solar PV System, in dollar terms, back into the new loan as extra monthly or fortnightly repayments. 0 -0 6 o (N o -- Q- EI m C) _ l 0 r o 'tE 0) 0>4 0 00 u ~ L) o o 00 0 c ~ m -E 48() 0 0 z00 Clc 0 2P o 000 T 0) LO E cc >1* C I~ fa a o ff > ~000 I-u >~ Z < -)0 ) 00
Description
EDITORIAL NOTE
There are two pages in the description only .
2018101796 21 Nov 2018
Z CLEANTECH
FINANCIAL
Solar Home Loan Calculator with Variable Loan Values & Extra Repayments Functionality
Description:
An Online Variable Home Loan Comparison Calculator with added functionality, allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount and reinvesting the electricity savings generated by that Solar PV System, in dollar terms, back into the new loan as extra monthly or fortnightly repayments.
The Solar Home Loan Calculator comprises of three comparison calculators in one, but with a unique set of features that allow the user to visibly see a number of financial benefits of adding the cost of a Solar PV System to their home loan, including a reduction in both the term of the home loan, and the overall loan interest savings over the nominated loan term.
The calculator allows the user to compare two different loan amounts with two varying or equal interest rates, showing a net loss or gain in terms of loan payments at monthly or fortnightly intervals between the two loans, followed by a third loan calculation which demonstrates the affect of reinvesting the electricity savings, generated by the Solar PV System, back into the new home loan, taking into account the net gain or loss from the second loan calculation to provide a unique value proposition.
Total Interest Payable over the term of each loan is show, along with the Total Cost of each Loan so the user can visibly see the impact of varying the loan amount, either using a reduced interest rate or maintaining the original home loan interest rate. The final stage of the Solar Home Loan Calculator also shows the total Loan Interest Saved, in addition to the Reduced Loan Term and Updated Cost of the Final Loan after the Additional Repayments are calculated over the Term.
The Solar Home Loan Calculator is divided into three comparison calculators to guide the user through the process with the aim of demonstrating the overall financial benefits of adding the cost of a Solar PV System to their home loan and the net effect of reinvesting the electricity savings, in dollar terms, back into the new loan as extra repayments.
The first calculator 'Current Mortgage' allows the user to input the approximate value of the property, the current or existing home loan amount, interest rate and loan term. Monthly and Fortnightly Repayment values are calculated, in addition to Total Interest Payable and Total Cost of the loan over the nominated loan term.
The second calculator 'Proposed Mortgage with Solar' allows the user to input the approximate value of the property, as well as the new loan amount which would consist of the original loan amount found in 'Current Mortgage' plus the added cost of the Solar PV System, in addition to interest rate and loan term which may differ from the original values entered into the 'Current Mortgage' Calculator.
Australian Registered Office
XENARA FINANCIAL PTY LTD trading as Cleantech Financial
3/6 Parsons Road
ELTHAM VIC 3095
Contact: Michael Califano
Mobile: 0407 888 531 | Email: michael@cleantechfinancial.com
2018101796 21 Nov 2018
Z CLEANTECH
FINANCIAL
Since Loan 1 and Loan 2 are different loan amounts and given that the interest rate may either be the same or less in Loan 2, a net monthly gain or loss is generated to illustrate the impact of adding the cost of a Solar PV System to an existing or new Home Loan.
The third calculator 'Re-Invest Electricity Savings' is effectively a third functional comparison calculator which pre-populates the net gain or loss from the 'Proposed Mortgage with Solar' calculator and allows the user to then input the electricity savings generated by the Solar PV System in dollar terms and as extra loan repayments.
The Net Extra Monthly Repayments are automatically calculated by adding the net gain or loss from the 'Proposed Mortgage with Solar' calculator to the Extra Monthly Repayments dollar value entered by the user which is based on the electricity savings generated by the Solar PV System in dollar terms.
The Solar Home Loan Calculator clearly illustrates the total reduction in overall home loan interest payable over the loan term, depending on whether repayments are made monthly or fortnightly, and these can also be calculated separately.
The Solar Home Loan Calculator also has an added feature related to the change in Loan to Value Ratio (LVR) when adding the cost of the Solar PV System to the home loan.
Since the Solar Home Loan Calculator allows the user to input the approximate value of the property in Loan 1 and Loan 2 to give an approximate loan to value ratio (LVR), the calculator also clearly shows any variation in the LVR based on adding the cost of the Solar PV System to the home loan, in this way the user is able to ascertain whether the added cost of the Solar PV System would be detrimental to their borrowing and/or lending criteria.
Australian Registered Office
XENARA FINANCIAL PTY LTD trading as Cleantech Financial
3/6 Parsons Road
ELTHAM VIC 3095
Contact: Michael Califano
Mobile: 0407 888 531 | Email: michael@cleantechfinancial.com
2018101796 21 Nov 2018
EDITORIAL NOTE
There is one page in the claims only .
2018101796 21 Nov 2018
Solar Home Loan Calculator with Variable Loan Values & Extra Repayments Functionality
Currently there is no Home Loan Comparison Calculator in the Australian Public Domain which allows the user to compare 2 Home Loans which differ in Value, all Home Loan Comparison Calculators are limited to comparing 2 Home Loans of equal Value, only the interest rate is able to be varied and as such Home Loan Comparison Calculators typically only show the user the net effect of changing the interest rate between 2 home loan products and do not provide for cases where additional lending is sought in Loan 2.
Claims (3)
- □aims:1. Comparison of 2 Home Loan Products of Different ValuesThe Solar Home Loan Calculator allows the user to compa re 2 Home Loans of different values to account for the increase in lending for Loan 2, taking into consideration the cost of the Solar PV System which is added to Loan 1, as such we claim to be the only home loan comparison calculator to allow a comparison of two home loans of vary!ng Loan Values in addition to the comparison of two interest rates.
- 2. Loa n to Va lu e Rati o Comp a riso n Ca I cuiatorThe Solar Home Loan Calculator has the unique feature of calculating the variation in Loan to Value Ratio (LVR) between Loan land Loan 2, since the calculator allows the user to enter the value of the property, any change to the loan amount being compared will affect the LVR and we claim to be the only home loan comparison calculator to include an LVR comparison feature in our calculator, following on from Claim 1 since only a variation to the loan amount in Loan 2 would result in a variation in the LVR.
- 3. Met Gain or Loss Carried Over to Extra Repayments CalculatorThe Solar Home Loan Calculator has a unique innovative step which takes the net gain or loss realised when comparing 2 Home Loans of different values and/or different interest rates, then pre-populates a third 'Extra Repayment' Calculator.When the user inputs their nominated Extra Monthly Repayment figure, the calculator automatically factors in the net gain or loss to produce a 'Net Extra Monthly Repayment' value within the calculator.We claim to be the only home loan comparison calculator to have this feature.
Priority Applications (1)
| Application Number | Priority Date | Filing Date | Title |
|---|---|---|---|
| AU2018101796A AU2018101796A4 (en) | 2018-11-21 | 2018-11-21 | An Online Home Loan Comparison Calculator with added functionality, allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount. The Solar Home Loan Calculator allows the user to compare 2 different loan amounts with 2 varying or equal interest rates, showing a net loss or gain in terms of loan payments. The calculator also allows the user to input the electricity savings generated by the Solar PV System in dollar terms, as extra loan repayments, illustrating the reduction in overall home loan interest payable, loan term & LVR. |
Applications Claiming Priority (1)
| Application Number | Priority Date | Filing Date | Title |
|---|---|---|---|
| AU2018101796A AU2018101796A4 (en) | 2018-11-21 | 2018-11-21 | An Online Home Loan Comparison Calculator with added functionality, allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount. The Solar Home Loan Calculator allows the user to compare 2 different loan amounts with 2 varying or equal interest rates, showing a net loss or gain in terms of loan payments. The calculator also allows the user to input the electricity savings generated by the Solar PV System in dollar terms, as extra loan repayments, illustrating the reduction in overall home loan interest payable, loan term & LVR. |
Publications (1)
| Publication Number | Publication Date |
|---|---|
| AU2018101796A4 true AU2018101796A4 (en) | 2019-01-03 |
Family
ID=64872737
Family Applications (1)
| Application Number | Title | Priority Date | Filing Date |
|---|---|---|---|
| AU2018101796A Ceased AU2018101796A4 (en) | 2018-11-21 | 2018-11-21 | An Online Home Loan Comparison Calculator with added functionality, allowing the user to ascertain the net effect of adding the cost of a Solar PV System to the original home loan amount. The Solar Home Loan Calculator allows the user to compare 2 different loan amounts with 2 varying or equal interest rates, showing a net loss or gain in terms of loan payments. The calculator also allows the user to input the electricity savings generated by the Solar PV System in dollar terms, as extra loan repayments, illustrating the reduction in overall home loan interest payable, loan term & LVR. |
Country Status (1)
| Country | Link |
|---|---|
| AU (1) | AU2018101796A4 (en) |
-
2018
- 2018-11-21 AU AU2018101796A patent/AU2018101796A4/en not_active Ceased
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Legal Events
| Date | Code | Title | Description |
|---|---|---|---|
| FGI | Letters patent sealed or granted (innovation patent) | ||
| MK21 | Patent ceased section 101c(b)/section 143a(c)/reg. 9a.4 - examination under section 101b had not been carried out within the period prescribed |