Investment loans with RAMS - any experience?

Viewing 7 posts - 1 through 7 (of 7 total)

goldies
Member
@goldies
Join Date: 2010
Post Count: 115
June 29, 2010 - 4:43 am
Hi all,
has any used RAMS for investment loans?
Any advice – are they good or no good generally?
Amanda
Terryw
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@terryw
Join Date: 2001
Post Count: 16,213
June 29, 2010 - 4:58 am
What the exit fees, and the LMI requirements.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
goldies
Member
@goldies
Join Date: 2010
Post Count: 115
June 29, 2010 - 8:29 am
Exit fees depend on which loan we go with – this hasnt been decided yet
They will only lend 90% for an investment.
getting our house valued tomorrow which will be the clincher for us as we would like to have a 20% deposit for our first IP
number 8
Participant
@number-8
Join Date: 2010
Post Count: 333
June 30, 2010 - 1:58 am
Why don't you see a local broker so you can compare all the financial institutions? You may find / hear something you really like? You asking this question today, suggests you are keen to source the best product.
http://www.birchcorp.com.au
goldies
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@goldies
Join Date: 2010
Post Count: 115
June 30, 2010 - 4:39 am
We have already seen 2 other brokers and felt they did not know enough about investment loans / products so went with an investment specialist instead. Got our preapproval through 30 mins ago, valuation on PPOR in the morning. could be shopping this weekend.
jaster12
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@jaster12
Join Date: 2010
Post Count: 27
July 5, 2010 - 11:28 pm
hi,
I have just done a loan with rams and all wnet well so far, even my exit fees are not to extensive, and the interest rate is very competitive.
I used them for an investment property and all seems to be going well.
goldies
Member
@goldies
Join Date: 2010
Post Count: 115
July 5, 2010 - 11:46 pm
Thanks Jaster.