Set up a loan product

The middle column is where the money is decided. Loan parameters set the bounds a file must sit inside — an amount outside the range is refused as it is typed. The caps — loan-to-value and the income ratios — are not blocks but routes: a breach records a deviation carrying the approval level it needs. The rate band is a range rather than a rate, because assessment prices at the ceiling and the sanction books the floor.

A product here is a scheme: an amount range, a tenure range, an interest method and rate band, the caps that govern it (LTV, FOIR, DBR), the approval slab that routes it, and what a file on it must carry — a field investigation, a guarantor, a legal opinion.

Versioned, and frozen once live

A scheme is versioned and becomes immutable once ACTIVE. Changing a live product creates a new version; loans already sanctioned keep the terms they were sanctioned on, because the sanction holds its own snapshot.

That is what makes a mid-year pricing change safe: it applies to what is written after it, and to nothing that was written before.

Approvals route on the amount

The approval matrix says who sanctions up to how much — and which amounts need no approver at all. A file is routed by its own figures rather than by somebody choosing a name from a list.