GMAC-RFC unveils non-conforming range

GMAC-RFC has launched a range of products for non-conforming clients.

In addition to the market leading rates already on offer, a range incorporating Bank base rate discount tracker options is now available.

Key features of the non-conforming range include:

• A discounted base rate tracker, starting at 4.85%, discounted for six months from completion.

• A two-year no tail fixed rate, starting at 6.15%.

• Early redemption charge applies for just two years on all options.

• Available on a full status and self cert basis.

• Loans available to 90% LTV, 85% for self-cert.

• A range of product options to meet varying levels of adverse credit – from near prime to unlimited catering for a wide variety of circumstances

• All products revert to margin over the Bank of England base rate for greater transparency.

Jeff Knight, head of marketing services at GMAC-RFC, says: “GMAC-RFC is one of the largest lenders in the UK and well positioned as an all-status lender. This enhancement to its product range will now strengthen its position as the champion of the non-conforming market.

“The new products compliment GMAC-RFC&#39s popular non-conforming menu, giving intermediaries even more choice to find the best product for their clients. It&#39s a simple, straightforward and competitive range that will be easy to find on mortgage sourcing systems.”