G'Day
Sorry, Rockfeather - I don't want to hijack your thread, but in answer to DKinvestments:
RAMS interest rates are at
http://www.rams.com.au/files/pdf/RAMS Rates at a Glance_Customer_4 Jan 08.pdf
Keep in mind that RAMS (WBC) came into existence on Friday,4th January. The updating of the website is a mammoth task. Just issuing all of us with new security codes is a huge job, so checking all the detail on every web page will take some time as yet
However, yes, we are all gobsmacked at the SE Pro Pack going to 90%LVR!
It used to be up to 82%LVR so this is something of a quantum leap!!
Construction loans are available with both product types, low doc and full doc.
There was a somewhat spirited thread some time ago regarding RHG (old RAMS) and construction loans - these were not available through brokers, only through the franchise channel. At the moment RAMS loans are only available through the franchise channel, we haven't had any official announcement yet regarding the role of brokers with RAMS.
Still, it's early days.
I agree, lukentel, that this will be a whole new kettle of fish. Still, that is what RHG did best - tilt at the windmills, challenge the accepted notions. When I first started with Aussie back in 2003 I saw RAMS as a non-conforming lender but wow! has it changed over the years.
So today, at the dawn of a new era, it is no wonder that there would be a product or two designed to blow a few socks off!
Australia is becoming a nation of self-employed people, contracted staff and an ongoing casual workforce. To expand the low doc range (with or without an ABN - none required) is what meeting the needs of the marketplace is all about.
Cheers
Kristine
RAMS Bayside
