RAMS has increased its fixed rates for low doc loans today for loans 1-5 years
Further effective 24 September 2009
All RAMS Low Doc loans applications are to be supported by the following:-
1. Business Activity Statements (BAS) for the past 12 months and ATO Lodgement Reference Number AND
2. The last 3 months account statements evidencing payment of tax as advised on the BAS.
As a footnote to the above, RAMS and many of the major banks are now requiring BAS statements with their low doc loans. With a requirement for BAS is this really a low doc loan? There are still alternative low doc lenders out there at 80% for both refinances and purchases that do not need BAS.