GMAC-RFC announces new mortgage product - News at Best UK Mortgages - Thursday, 30th June 2005

GMAC-RFC has released news of its new non-conforming mortgages products.

Their two-year fixed rates start at 5.95 per cent for status and 6.15 per cent for self-certification. There are also new tracker options: two and three year trackers start at just 5.95 per cent for status and 6.15 per cent for self-certification.

GMAC's non-conforming business has seen increased growth in 2005 and the company expects the success to continue.

Jeff Knight, head of marketing services, said he was pleased with GMAC's performance.

"Unlike many of our competitors, we are reporting an ongoing increase in our non-conforming business," he said.

"We have reached this strong position due to our global strength, clear understanding of the market and technological advances."

Other features of the deal include a no early repayment charge overhang and re-mortgage options with no application fee.