GMAC-RFC broadens mortgage choice

GMAC-RFC has announced that it has reduced rates on a number of its mortgage packages.

Incorporated within the group's two-year low fix products are reductions to 5.59 per cent, compared to 5.89 per cent for its core products.

The low fix packages were created to allow people to benefit from a competitive interest rate at the top end.

GMAC-RFC has also announced that it will be making significant reductions on its mainstream and self-certification products.

The group's near-prime two-year fixed product starts at 5.75 per cent, while GMAC-RFC has also introduced a new loan-to-value break of 85 per cent.

Julie Gaskin, corporate relations manager at the group, said: "We have listened to what our brokers have had to say and recognise that there are distinct regional differences and so therefore we need to be able to offer a wider choice as we know, one shoe certainly does not fit all."

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