Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

RAMS undercuts major banks with rate cut

Staff Reporter 1 minute read

RAMS Home Loans has moved quickly to pass on 0.9 per cent of the Reserve Bank’s October one per cent official cash rate cut.

Melos Sulicich, RAMS chief executive said today “as funding costs remain high and global funding markets remain unstable we have moved quickly to pass on the maximum amount we possibly could – almost the full cut.”

The RAMS reduction, which is 10 bps more thank the big banks’ 0.80 per cent, will bring the non-bank lender’s standard variable rate to 8.39 per cent, 14 basis points lower than any of the big four’s standard variable rates.

Published: 09-10-08

Related Articles
Big banks pass on bulk of RBA rate cut 08-10-08

Today's other news

 

RAMS undercuts major banks with rate cut
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
mortgage document sign ta 1 in 5 borrowers lies on loan applications

One-fifth of Australians have admitted to not telling the whole t...

money au ta Judo Bank valued at $1.9bn after equity raise

The SME challenger bank has announced its latest equity funding r...

gentlmen handshake Choice announces commercial white label service

The aggregator has partnered with a finance brokerage to add a co...