• Lifestyle Option

    • Lifestyle Option Image
      Meet with a home loan expert Have us call you

      Defer your home loan repayments for up to 6 months

      Ideal for: Young families

      Life is full of challenges. Some are welcome and others are more of a surprise. Either way, you may need extra support to get through any such challenging times.

      RAMS Lifestyle Option allows you to defer repayments on your loan for up to 6 months – twice during the life of the loan. It’s our way of helping out.

      Conditions and fees apply so talk to a RAMS Home Loan Specialist to see how we can help.

      Conditions

      • The borrower must maintain a minimum of 50% of normal monthly interest only repayments.
      • The maximum reduced period is 6 months. This can be reassessed for a further 6months. Shorter periods may also be taken provided the total time does not exceed 12 months.
      • Borrowers will need to make a formal request to RAMS with an updated assets and liabilities statement, with all borrowers signing the request.
      • Borrower will need to provide evidence confirming the reason, such as a redundancy notice, maternity/parental leave approval, or medical documentation etc.

      Waiting periods do apply

      • Borrowers taking maternity or parental leave will need to wait at least 12 monthsafter starting their RAMS Home Loan. 
      • Borrowers who suffer retrenchment, accident or illness will need to wait at least 6 months after starting their RAMS Home Loan.
      • The LVR at time of request cannot be more than 90% (80% for Self-employed Low Doc home loans).
      • Any available redraw must be used before the Lifestyle Option commences.
      • Other conditions and lending criteria apply.

      • Hypothetical scenario

        John and Katie had taken out a RAMS Home Loan two years ago and were now expecting a baby. They wanted to reduce their monthly loan repayments while Katie was on maternity leave.

        The RAMS solution

        Having saved, they were ahead in their loan repayments and their loan was now below 90%. Because their RAMS Home Loan had the Lifestyle Option, they were able to halve their monthly repayment for 6 months with the amount owing added to their loan principal. This has added 3 to 4 months to the life of the loan, but John and Katie were of the view that it was a small price to pay e for the time they were able to share as a family without the pressure of meeting loan repayments while Katie was on maternity leave.

      •  
        Ideal for
        Interest rate p.a.
        Comparision rate* p.a. A nominal interest rate incorporating certain fees and charges to help consumers identify and compare the true cost of a home loan
        Min loan
        size
        Redraw
        Annual fee
        Compare

        Full Feature Home Loan

        All you'll ever need in a home loan

        		 Owner-occupiers, first home buyers, refinancers  Popular6.96% 7.03% $15,000 YesN/A

        Fixed Rate Home Loan

        The easy way to fix your loan

        		First home buyers, investors.6.19% 7.44% $15,000 YesN/A

        Low rate home loan

        No fuss, no frills, low rate

        		 First home buyers, owner occupiers  Popular6.15% with intro
        period        		6.47% $15,000 YesN/A

        Investor home loan

        Reach your investment goals

        		 Investors6.21% 6.49% $15,000 YesN/A

        Line of credit

        Unlock the equity in your home

        		 Investors, owner occupiers  Popular7.06%
        n/a
        		$15,000          YesN/A

        Low doc fixed rate home loan

        Fixed rate loans for the self-employed

        		 Self-employed  Popular6.19% 7.62% $15,000 YesN/A

        Low doc home loan

        Working harder for the self-employed

        		 Self-employed7.16% 7.44% $15,000 YesN/A

    • Save or share

      Print Bookmark