RHGL (former RAMS) interest rate cuts?

[Ajax]

Waiting expectantly. Appreciate any updates.

 

[MTR]

just phoned this morning and was told .75%.

 

[Buddybee]

I logged onto my account this morning and they haven't posted any rate updates at this point. Haven't called them, so am pleased to hear they are reducing their rates by 0.75%.

Cheers
Buddybee

 

[Ajax]

Thanks MTR

 

[Lyne]

Alléluia!

It's been a good week for us. IR cuts and a nice Tax Returns, this definatly deserves a "special" bottle of red.

 

[DavoS]

just phoned this morning and was told .75%.

Thanks MTR, good news but the new Rams has apparently dropped it by 0.9% so I'm tempted to change over. Anyone knows if Rams are still offering that sweet changeover deal for RHG customers ?

thanks

 

[Rixter]

Thanks MTR, good news but the new Rams has apparently dropped it by 0.9% so I'm tempted to change over. Anyone knows if Rams are still offering that sweet changeover deal for RHG customers ?

Surely you're not motivated to change lenders purely based on 0.15% IR difference??

 

[BrokerMatt]

Thanks MTR, good news but the new Rams has apparently dropped it by 0.9% so I'm tempted to change over. Anyone knows if Rams are still offering that sweet changeover deal for RHG customers ?

thanks

The change over is still on offor, at this point in time will be until the end of October. No word on extending it past that date yet. Im not on my work computer, so im not 100% on the specifics off hand, but I beleive it revolves around a $1500 cash back.

 

[Ajax]

Brokermatt,

Is GE the only mortgage insurer for RAMS? What is minimum length of abn and gst registration required on a lo doc with lo doc income considerably in excess of 75k p.a.?

 

[Ajax]

RHG are passing on interest rate cuts on the 1st day of the following month.

0.25% cuts came into effect on 1 October. I presume that 0.75% cuts will come into effct on 1 November.

Nice of them to pocket the difference of almost one month.

 

[redwing]

Whats the long term plan for RHG with the majority of the business sold to Westpac to become the new and improved RAMS ?

 

[Ajax]

redwing,

I think their plan is to run off the loan book hoping people switch and pay their break costs rather than stay with them.

Don't think they are actively pursuing new business.

This is not good as there is little incentive for them to offer competitive rates...they make more with disgruntled borrowers switching to another lender.

Maybe they end up selling their loan book to another lender. After all what is wrong with former RAMS (now RHG) clients...in normal times it is hard to build a client base.

 

[Rolf Latham]

Hiya Ajax

New Rams is pretty much down to GE.

BUT.............soon, WLMI, Westpacs in house insurer will take over.

2 year abn and gst rules will still pretty much apply

ta
rolf

 

[Ajax]

Thanks for the reply Rolf.

 

[DavoS]

Surely you're not motivated to change lenders purely based on 0.15% IR difference??

I think its a bit more then, have to check but I think RHG put up the rates above Rams increases and now are holding back. Also moving from lowdoc to full doc so its probably more like 2% I'm only holding back because of the exit fees which I'll get slugged with if I leave before April.
But even at 0.15% I would change over if there were no (or only minor) costs involved, I'm a rate tart with principles.

 

[Rixter]

I'm a rate tart with principles.

.......and a cheap one too it seems

 

[Buddybee]

RHGL lowered their rates by 0.75% effective 20/10/8. I logged in to my online account this morning and there it was

Cheers
Buddybee

 

[kreepy]

so is there further cut since Westpac is cutting further by 0.2%?