Specialist lender, RAMS Home Loans today announced it will reduce its Standard Variable Rate (SVR) by the full 1% p.a. to 5.69% p.a.* effective Monday 9 February, following the latest drop to Reserve Bank of Australias official cash rate.
The latest rate reduction now means the popular RAMS Rate Relief home loan offers customers an interest rate of only 4.69% p.a. for the first two years of the loan, making RAMS Home Loans one of the most competitive in the national lending market.**
RAMS Chief Executive Officer, Melos Sulicich said a home loan that is less than 5% p.a. will bring welcome relief to many families.
It is important for Australians to be able to access a more affordable alternative, especially with the challenges of the current financial market, Mr Sulicich said.
The RAMS Rate Relief home loan is one of the most popular and affordable home loans on the market as it offers customers a 1% p.a. discount off the new SVR for the first two years of the loan and 0.4% p.a. off the SVR for the life of the loan.
RAMS has always appealed to young families, first home buyers and self-employed professionals who have turned to the local service network for simple, friendly, approachable service and now the added strength and security of funding from a leading Australian bank.
Mr Sulicich said, We have experienced an all-time record in customer call volumes throughout January as many people seek to take advantage of the reduced interest rates and Government grants to get a head start into the property market. Now with these reduced rates, we expect this demand to continue.
RAMS Home Loans is in the business of helping people achieve their financial goals and we believe this rate reduction combined with secure funding will help our customers in these difficult times and also place RAMS top of mind for borrowers, Mr Sulicich said.
To protect customers, RAMS Home Loans remains committed in its approach to responsible lending. RAMS applies lending criteria and only lends to home buyers who have the ability to meet repayments.
Customers can take advantage of the new RAMS interest rates by visiting a RAMS Home Loan Centre or from the RAMS broker network. Customers seeking further details can call 13 RAMS (13 7267) or go to www.rams.com.au
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