|
Lender Name |
RAMS |
|
Product Name |
LINE OF
CREDIT PRO
PACKAGE |
|
Product Type |
PROFESSIONAL
LOC |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Available,
no minimum
amount & no
fee
applicable. |
|
Offset |
Not
available. |
|
Fees |
Application
Fee $395
Valuation
Fee $200
Account
Keeping Fee
Single loan
$300/2-4
loans $150
per loan/5
or more
loans $100
per loan
(based on
total number
of RAMS Pro
Packs held
by customer)
Loan
Settlement
Fee $250
(shown as
Mortgage
Prep Fee)
Discharge
Fee $295
plus Legal
Early
Repayment
Fee:Year
1-3: 1% of
the original
loan amount
Switching
Fee $295
ATM, EFTPOS
Cheque
access 10
Free
Transactions
across all
access
methods |
|
LVR |
Owner
Occupied
Maximum LVR
90%
Investment
Maximum LVR
90%
Refinance
LVR 90%.
Land Max LVR
90%.
Debt
Consolidation
LVR 90% (to
$750k metro)
loans only.
Consolidate
up to five
personal
debts. |
|
Repayment
Type |
Principal
and Interest
& Interest
Only maximum
term 10
years |
|
Repayment
Options |
Weekly,
fortnightly
or monthly
on any
nominated
day.
Available as
an interest
only option
or principal
and interest
option.
Available
for
accelerated
payments. |
|
Repayment
Method |
Direct
Debit,
Salary
Credit &
Bank@Post. |
|
Extra
Repayments |
Extra
Repayments
may be made
at any time
no minimum
amount. |
|
Special
Offers |
|
|
Term |
Maximum term
30 years. |
|
Loan Size |
Minimum
$250K. &
$500k
No Maximum |
|
Mortgage
Insurance |
RAMS Risk
Fee payable
by borrower:
>80% or
$1.5m
>70% and >
$1.5M <=
$3.5M
> 60% and >
$3.5M
Capitalisation
of RAMS Risk
fee to up to
100% LVR. |
|
Acceptable
Income |
PAYG Salary
/ Wages
/Self
Employed |
|
Product
Change |
Convert to
any full doc
product
(excluding
Easy Start)
at anytime |
|
Statements |
Quarterly
(Monthly
available) |
|
Portability |
Yes. |
|
Split Loan
Facility |
Available at
anytime
minimum of
$50k. |
|
Special
Notes |
Bridging
Loan
Purpose:
Purchase of
either an
owner
occupied or
investment
property
whilst
selling an
existing
property.
Term &
Repayment:
12 months
max with
Interest-Only
with 9
months
maximum for
capitalization
of interest. |
|
Target
Market |
A flexible
alternative
to high
interest
credit
facilities
RAMS Line of
Credit Pro
Pack is
ideal
whenever you
need instant
cash for
purchases or
investments. |
