RAMS Home Loans today announced the launch of a new home loan to assist borrowers struggling in the current tough economic climate. RAMS Rate Relief offers a 1% p.a. discount off the RAMS Standard Variable Rate for two years plus no annual account keeping fee.

“RAMS is committed to providing innovative and competitive product offerings to the broker channel to help support their businesses”, said Huw Bough, Head of Broker Business. “Where other lenders have pulled products, or even withdrawn from the broker market entirely, RAMS is introducing a better product, at a time when brokers and their clients need it most.”

Currently at 8.54% p.a. variable (Comparison rate 9.08% p.a.)* for the first two years, RAMS Rate Relief offers one of the best products currently available, plus no annual account keeping fee and an ongoing rate guaranteed to remain 0.4% p.a. below the RAMS Standard Variable Rate (SVR) for the life of the loan. (RAMS SVR is already lower than the standard variable rates offered by any the big four banks).

“It’s a challenging market for brokers and lenders alike, but RAMS Rate Relief will deliver the results brokers are looking for easing the financial pressure faced by their clients whether refinancing or purchasing a new property,”, said Mr Bough. “RAMS has a reputation for innovative and competitive products. Now, with the backing of Westpac, we have the added advantage of balance sheet funding and are able to offer products and features we weren’t able to offer as a securitized lender.”

For one week only, until 31 August 2008, customers borrowing $150,000 or more can also take advantage of RAMS current no application fee, no valuation fee promotion, saving a further $595 in upfront costs.

RAMS Rate Relief Home Loan is available from Monday 25 August 2008. For more details, mortgage brokers can contact their RAMS Relationship Manager, 1300 130 769 or visit www.ramsbroker.com.au