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RAMS could give you a Standard Variable Rate that's lower than the banks - Ask us!
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RAMS Line of Credit SE Pro Pack

An evergreen line of credit loan with preferential rates

If you’re self-employed and have total RAMS borrowings of $150,000 or more, a RAMS Line of Credit SE Pro Pack could be for you. It provides easy, flexible access to the equity in your home and you’ll enjoy a preferential rate for the life of your loan. There’s no need to make regular repayments if you’re below your credit limit, so it’s ideally suited to irregular cash flow.

Plus, like all RAMS low doc loans, all you need to support your application is a signed Borrower Certificate of Income Declaration form stating your income together with 12 months of BAS* statements, an Accountant’s letter or (if refinancing) a signed declaration together with statements for the last 6 months of the loan(s) being refinanced.

Product Key Benefits:

  • An evergreen line of credit loan at discounted1 home loan rates
  • Borrow up to 80% of the purchase price or valuation if lower (owner occupiers and investors
  • Interest capitalisation, no regular repayments required if below your credit limit
  • Simplified paperwork for the self-employed
  • Redraw access to overpayments (no minimum)
  • 10 free transactions every month across all access methods (ATM 2, EFTPOS and chequebook)
  • Choice of repayment methods; Direct Debit, Salary Credit, Bank@Post or BPAY 3

Scenario

The Problem:

Simon’s self-employed and owns a house valued at $650,000. He has an existing home loan of $250,000 and wants to refinance and raise an additional $150,000 to invest in managed funds over the next 12 months.

The Solution:

Simon refinances to a RAMS Low Doc Line of Credit Home Loan with a competitive interest rate and an approved credit limit of $400,000. He draws down $300,000 immediately (to pay off his previous home loan and to invest immediately). Until he draws down the remaining funds (via ATM, EFTPOS and chequebook), he only pays interest on the $300,000. Since he’s below his credit limit at the moment, he doesn’t have to worry about making regular repayments. This suits him well as his cash flow can be irregular.

"RAMS can, so you can"

Meet with a RAMS home loans specialist today. We're available 7 days a week and if it suits you better, we'll happily come to you.

Fees, conditions and limitations apply. Subject to RAMS normal lending criteria. *If you manually lodge your BAS account statements, showing payment to the ATO is also required, plus evidence of 20% of the purchase price in other real estate, shares, equities, superannuation or deposit account. 1Discounted off the RAMS Line of Credit Variable Rate. 2Free ATM Transactions relate to Westpac, St George and Bank SA branded ATM's only.  Other Institutions may charge a fee for use of their ATMs. Payable in addition to fee for transactions over free threshold. 3BPAY available for extra payments only, not scheduled loan repayments.