Rates start at just 5.24%, with a choice of competitive discounted and fixed rates that are available on a status or self cert basis.
Jeff Knight, Head of Marketing Services at GMAC-RFC, says: "With knock-out rates and an early redemption period of just two years, intermediaries have access to probably one of the most competitive ranges available in the market today. We have been the number one non-conforming lender for a number of years now and this will help us maintain our position."
The range was designed after careful analysis of market data that showed that borrowers have a wide range of varying levels of adverse credit.
Knight continues: "One thing that we found in our research was that the majority of non-conforming borrowers had just minor levels of adverse credit. These new rates are designed with the needs of such borrowers in mind and are very close to mainstream rates, allowing intermediaries to punch their true weight."
Product Summary:
Full range of adverse credit available, in simple defined criteria
Discounted Rates available from 5.24% status (5.54% self cert) - a 1% discount for six months from completion (see attached for all rates available)
2 year fixed rates from 6.45% status (6.65% self cert) - fixed until 1st September 2006
Loans up to 90% LTV (85% self cert)
Only a 2 year redemption charge period
£395 arrangement fee
For further information on GMAC-RFC please visit www.gmacrfc.co.uk
