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RAMS

Discussion in 'Property Finance' started by hash_investor, 2nd Jun, 2016.

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  1. hash_investor

    hash_investor Well-Known Member

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    Who on the forum is with RAMS? And how much is your total loan with them?

    I have been advised it is harder to add more properties with RAMS because they are not very favourable for investors. True/False?
     
  2. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker

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    Bullocks. Who told you that and in what context?
     
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  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    false
     
  4. hash_investor

    hash_investor Well-Known Member

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    What is your experience with RAMS?
     
  5. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker

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    No different to any other lender really - they have their niches, they do construction loans quite well, their call centre is in Oz, good customer service, etc. Then again there is a whole bunch of stuff that they can't or don't do well.

    They are definitely a decent lender for investors unlike say ING.

    What are you specifically looking to do?
     
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  6. kr11

    kr11 Well-Known Member

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    Does anyone know what their assessment rate and maximum exposure they have for clients?

    that would determine how much u could borrow.

    thanks
     
  7. tobe

    tobe Well-Known Member

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    I worked for rams up until about 18 months ago.
    Their assessment calculator is similar to westpac/bom. They don't give copies of their calculator out.
    They don't have maximum exposure, but they are wholly owned by Westpac, who do have limits, and are governed by westpacs 'banned' postcode/address lists.
    They have a dla with a third mortgage insurer other than genworth/qbe
    They have some good niches, but they aren't available to brokers, so perhaps they aren't as well known as other lenders.
    As previously said, they aren't bad for investors, though I wouldn't say they are particularly good either.
     
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Bollocks :)

    ta

    rolf
     
  9. dabbler

    dabbler Well-Known Member

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    lol....your right :)
     
  10. montoya

    montoya Well-Known Member

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    I'm with RAMS (amongst other lenders) and I find them to be the best in terms of customer service and ease of extracting equity.

    Total loan value 750k, although we did get finance with them at the beginning through PPOR before converting to IP. our current rate is 4.35% variable for full feature home loan.