This new range covers all sectors - mainstream, buy-to-let, STAR for self cert clients and non-conforming.
Highlights include:
* A new 2 Year Express Discount of 3.89% (with no overhang), discounted until 01.04.2006 - offering free legals and free valuation for remortgages and a £250 cashback for purchases
* 2 Year Fixed Rates starting at 4.49%
* A full term buy to let tracker from 4.74% - with the rental calculation based on the pay rate - and a 2 year fixed rate of 4.99%
* An exciting new addition of non-conforming fixed rates, starting at just 5.75% and fixed until 01.04.2006 - complimenting the successful discount menu
* A choice of 2 Year Discount and Fixed Rates for STAR, starting at 4.49%
Product Focus - Mainstream Rates
With the new 2 Year Express Discount and Fixed Rates, GMAC-RFC aims to increase its share of the mainstream market and is available on a purchase and remortgage basis.
With the discount, for clients remortgaging there is a free valuation and no legal fees, whilst for purchases there is £250 cashback payable on completion. The product also benefits from no overhangs.
Loans are available to 90% LTV (95% for the 4.49% fixed rate) and for loans below 75% there is minimal referencing required making life easier for intermediaries and their clients. The rate is also available for let to buy.
Jeff Knight, head of mortgage services at GMAC-RFC, says: "This Express Discount of just 3.89% delivers an extremely competitive rate and reinforces our market position. With the added option of fixed rates, intermediaries the power to achieve maximum potential by offering competitive rates from one of the world's largest financial services companies."
Knight continues, "GMAC-RFC is well known for being the number one sub-prime lender but this is just the tip of the iceberg for our many product areas. We are now one of the largest lenders in the UK and the only one that offers mortgages for everyone under one brand. Our aim is to further increase our standing by providing a market leading product range across all sectors, utilising new technologies and enhancing our reputation for excellent service."
Mainstream Mortgage Rates:
Discount
* 3.89% - a 2 year 'no tail' discount of 1.85% to 01.04.2006
Fixed
* 4.49% - a 2 year 'no tail' fixed rate to 01.04.2006 up to 95% LTV
* 4.69% - a 2 year 'no tail' fixed rate to 01.04.06 up to 90% LTV
All other rates and further information on GMAC-RFC please can be found at www.gmacrfc.co.uk
