|
Lender Name |
RAMS |
|
Product Name |
STANDARD
VARIABLE |
|
Product Type |
VARIABLE |
|
Interest
Rates |
Latest
Interest
Rates
Compare
Other
Lenders |
|
Redraw
Facility |
Available
Minimum
Amount $100
Redraw fee =
$0 |
|
Offset |
Not
Available |
|
Fees |
Application
Fee $395
Valuation
Fee $200
Account
Servicing
Fee Nil
Discharge
Fee $295
plus Legal
Loan
Settlement
Fee $250
(shown as
Mortgage
Prep Fee).
Early
Repayment
Fee: Year
1-3: 1% of
the original
loan amount
Switching
Fee $295 |
|
LVR |
Owner
Occupied
Maximum LVR
100%
Investment
Maximum LVR
100%
Construction
Maximum LVR
95%
Refinancing
Maximum LVR
95%
Debt
consolidation
Maximum LVR
95%
Owner
Occupied Max
LVR 100%
(100% of
purchase
price,
evidence of
transaction
costs
required).
Investment
Maximum LVR
100% (Must
hold 20%
equity in
other
residential
real
estate).
Construction:
Full Doc &
Low Doc Max
LVR 95% -
$750k/ LVR
80% - $1m
Refinance
LVR 95%.
(For 90+ LVR
equity
release
funds
allowed to
maximum of
5% of total
loan).
Land Max LVR
90%.
Debt
Consolidation
LVR 95% (to
$750,000
metro) loans
only.
Consolidate
up to five
personal
debts. |
|
Repayment
Type |
Principal &
Interest &
Interest
Only |
|
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 |
|
Extra
Repayments |
Extra
Repayments
may be made
at any time
minimum
amount $500 |
|
Special
Offers |
|
|
Term |
Maximum term
30 years. |
|
Loan Size |
|
|
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 |
Six Monthly
Loan
Statements |
|
Portability |
Yes Fee
$295 |
|
Split Loan
Facility |
Available at
anytime
(minimum
fixed loan
amount $50K |
|
Special
Notes |
Lifestyle
Options &
Holiday
Repayment
available -
conditions
apply.
RAMS Fast
Track
available
(O/O only)
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.
Subject to
Policy
requirements
as per RAMS
Lending
Guidelines -
www.ramsbroker.com.au |
|
Target
Market |
A flexible
standard
variable
home loan
that helps
you to
offset the
interest you
pay by
making
additional
payments
whereby you
pay off your
loan sooner
at a
preferential
rate. |
