The reason so many people are with RHG is that they were former RAMS customers. When the old RAMS went broke Westpac bought the RAMS brand name and shopfront for a bargain basement orice of $140 Million. But left the Billion $ 10 plus mortgage book with the former RAMS holding company RHG. They are not allowed to sell any new mortgages for a period of 3 years there are 2 years left to go.

RHG increased their termination fees considerably so it is difficult for some people to leave.refinance. Now that rates are coming down they are not passing on the full amount. Even though they had numerous rises outside of RBA rises on the way up.

With the last RBA cut of .75% Both RHG and Rams announced a .60% cut on the same day Friday Nov 8th RHG gave Low Doc Customers only .55%..

I believe that RHG is not allowed to undercut RAMS because of the Westpac rescue deal.