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Less than a week after withdrawing its no deposit home loans from the broker channel RAMS Home Loans has today announced the product will also be axed from the franchise network.
A RAMS spokesperson confirmed with Mortgage Business that its maximum LVR for its franchise network would now fall to 95 per cent.
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The 3 per cent genuine savings requirement announced to brokers on Monday will also apply to the franchise network.
“These changes are based on maintaining a long-term risk-based approach to lending to ensure RAMS remains viable into the future,” the spokesperson said.
