RAMS undercuts all major banks

Mortgage lending franchise RAMS will pass on the full 25-basis-point rate cut to its borrowers, taking its standard variable rate to below that of all the major banks.

The RAMS standard variable rate will drop to 7.38% on Friday (November 4) below that of NAB, which we will cut its rate to 7.47% three days later and has decided to pass on 20 basis points of the official 25-basis-point cut. 

RAMS is owned by Westpac and has a strong footing in the first-home buyer and self-employed market.

RAMS chief executive Melos Sulicich says RAMS continues to be committed to providing Australians with the best possible deal. 

“As a specialist local lender we hear and understand the concern about interest rates and think this reduction will have a positive effect for both homeowners and the wider community. It also shows our continued commitment to providing competitive deals,” he says. 

“For many Australians, their biggest monthly expense is their mortgage and it’s important to check it’s still working for you. If not, now is a great time to re-look at the market.”