Hi all,
Firstly, I feel like the new boy at school and I’m new to writing on the forum but I have been reading them for quite some time and have found it to be incredibly informative and have noticed the amount of people willing to share their knowledge with others and for that I just wanted to say well done.
I have recently re-financed with Rams and after applying for online access with them I received my customer Identification number on Rams letterhead but with RHG as the customer service contact, welcoming me to RHG Online Access as well as RHG’s telephone number, set-up instructions for accessing all private details pertaining to my mortgage, as well as being encouraged to visit RHG’s website to review their other products, that they are ” sure I will be impressed with”.
At the end of the letter I was thanked by RHG and the letter was signed ( albeit automated )
I phoned the number provided, they informed me that it’s not the same as RAMS and then transferred me – ( i’ve never been transferred by two different companies before or been sent information on other people stationary, I don’t even send anything on my wife’s letterhead and I live with her).
The twist here is that I was with RHG after being with the original Rams and have gone back to Rams- as I was assured that they are Westpac owned, which I believe to be true and a completely separate company- similar in name only.
I obviously and begrudgingly forked out hefty exit fees, was given a $5k sweetener by the new Rams to come back to them, only to have this letter making me ponder whether or not I had really exited and entered a new company after all.
Does anyone think this is worth pursuing or am I just a bigger Columbo fan than I thought ?
I have just received the pin # for the online access on Rams letterhead, with Rams details rather than RHG this time but the signature is the exact same for RHG and Rams customer service.
Imagine having such a beautiful signature that you can work for two separate lenders !
Hi petit homme,
yes RHG and RAMS are separate companies.
RAMS administer RHG loans (out of same offices at Homebush Bay Drive, Rhodes NSW).
Westpac are the credit provider for RAMS but not RHG.
I have both a RAMS loan and an RHG loan (and am no great fan of RHG)
RAMS corresponodence to me sometimes has a contact number which if you call will be the telephone line (recorded message..if you want * press A etc for RHG). Annoys me when I call RAMS number to be answered by RHG. Also I don't like the recorded message for both RAMS and RHG.
I reckon after 3 years non competition period (since former RAMS became RHG) RAMS will simply acquire RHG and maybe funding costs for RHG clients will fall. Would make sense for RAMS as they already provide admin and are presumably using the same systems for both entities (how to acquire a whole heap of new clients who are currently paying high interest rates and woudl eb grateful to be transferred across to a lender funded by Westpac) .
Ajax
Hi Ajax,
So they share the same office, phone line and stationary but are separate companies that charge you exit fees , set-up fees and mortgage insurance if you moved your loan from one side of the office to the other !
Do you know if this is quite normal with other lending institutions?
PH, No it is not normal with other Companies but not every other lender got themselves in the same boat as RHG.
Richard Taylor | Australia's leading private lender
sorry repeated post.
Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
