RAMS Home Loans yesterday announced that it would reduce its exception fees to $15.
From 1 October the brokerage will reduce the fees associated with missed payments, dishonours and 30, 60 and 90 day arrear fees.
RAMS head of product Joanne Reid said the new fee structure was more straightforward and easier to understand.
“We listen to our customers and take their feedback seriously. The significant reduction in fees is consistent with our position as a desirable and affordable alternative in the home loans market,” Ms Reid said.
The announcement follows a review of all fees and charges since the business was acquired by Westpac Banking Corporation in January 2008.