RAMs reduces Interest Rate Discounts on Basic and Rate Relief Products

Posted on August 18, 2009, 11:33 am, by admin, under Mortgage News.
RAMS is changing the interest rate discount and early repayment fee on the RAMs Rate Relief product. This is in effect a small rate increase on their basic products.
The discount off the standard variable rate has been reduced to 0.90% for the first two years and 0.40% after the first two years (this was previously 1% and 0.40%).
The early repayment fee has increased to 1.25% of the loan amount for year 1 & 2 and 0.75% for years 3 & 4 (this was previously 1% for 1-4 years).
The RAMs Basic Home Loan interest rate is increasing from 4.99% to 5.06%.

These changes are effective 20/08/2009.

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