WESTPAC has completed up to $500 million of funding for RAMS home loans.
The funding agreement will be provided by a warehouse facility and will fund all new loans settled by RAMS until the completion of Westpac’s acquisition of RAMS distribution business.
However, funding will cease if shareholder approval is not obtained.
Westpac’s group executive Mike Pratt said the funding is another important step in providing certainty for RAMS franchisees.
RAMS’ shareholders will vote on Westpac’s proposal at their AGM on November 26.
Australian Property Journal
