We have a loan with RAMS. Until Januray next year the loan is guranteed to be 1% less than the RAMS standard variable rate and after that for the life of the loan it will be guranteed to be .4% lower than the RAMS variable rate.

My concern is that Westpac at the moment seems to be discouraging new mortgages. Do people (mortgage brokers in particular) see RAMS interest rates being uncompetive in the near future? I guess the question is can I get a better rate at other institutions. (IE. 1% better than I will get once the honemoon period is over). At the moment RAMS standard variable rate is lower than the big 4 (though I don't know the discounts that I could get off this).

I am concerned that Westpac seem to not be looking to get mortgages at the moment as I read in the herald sun RAMS do not now deal with mortgage brokers. Until the start of 2013 we will need to pay a fee of around $2,000 to get out of the loan.

If the general answers to my query is I will get a much better rate if I re-finance, I will confirm this with a mortgage broker and if they agree, then I will re-finance.

Unlikley that u willbe able to get a much better rate per se, that will pay for the exit costs.

the reasons that RAMS have pulled back from the broker channel right now is that they have very limited funds to lend at decent rates, and it makes sense to protect those people that have paid a lot to get into a RAMS franchise.