Rams Home Loans – Beware of Rams Home Loans Rams Home Loan Scam

Beware of Rams Home Loans and the big interest rate scams they stick you with. Sure they come across as a reputable home loan provider but trust me when I tell you the deal they set you up with will fleece you real fast of your savings.

After the honeymoon period is over watch out because Rams Home Loans may try and scam you with the same as the got me with. With one phone call they convinced me to lock my interest rate the next week interest rates dropped. Coincidence or well thought out con?

If you thought Rams was a reputable home loan lender then you need to read this story. I am the owner of Gold Coast property that has a Rams home loan mortgage. Initially when taking out the loan the interest rates were low and the repayments were reasonable as the interest rates began to rise. I spoke with my original home loan broker from Rams Home Loans Mermaid Waters to discuss some options. I was advised to lock my home loan to a fixed interest rate by them.

Well I took there advice and no sooner was the loan fixed in for three years and the interest rates began to drop so now I am stuck with 2 more years of high interest rate sand despite discussion attempts to have my Rams home loan interest rate lowered they tell me no they can’t or more so won’t help me apart from a .15% drop.

Here is the reality if I was not advised to lock my interest rate I would not of or if I was told to seek some prior advice I may have. The bottom line is that Rams home loans are not financial advisers and it is illegal fro them to advise you to fix an interest rate without seeking prior financial advice.

NAB are no looking at refinancing my home and absorbing the $7000 early exit fees. What upsets me the most is that times are tough enough, it is getting harder to make money and yet big banks and finance companies just want to screw you as hard as the can go.

I have taken my complaint up with the financial industry ombudsman and he said that Rams had no right giving me financial advice regarding locking a variable home loan to a fixed home loan rate.

Rams at this stage have refused to release me or discount my exit fees. I suggest anybody taking on a Rams home loan to shop around because Rams deceptive conduct will leave you feeling totally rammed.

Paul Klerck Disappointed Rams Home Loan Customer