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GMAC enters buy to let with two fixed loans

GMAC Residential Funding is offering two flexible fixed-rate buy-to-let mortgages as part of its aim to offer loans across all market sectors.

The mortgages are fixed until October 2003 at either 6.25 per cent or 6.55 per cent depending on loan to value. Both mortgages then revert to GMAC&#39s variable rate of 6.74 per cent.

Borrowers&#39 eligibility is mainly assessed on credit standing and expected rental income. Brokers get 0.45 per cent of the loan as an introducer payment.

Head of corporate communications Gina Collman says: “Over the last year, there has been increased interest in this market and intermediaries will be able to satisfy their client&#39s demands with these products.”


Sony and yet so far

Not so long ago, anyone who suggested you buy a new PC from Sony would have got a very curious look from most people. Over the last couple of years, however, the people who gave the world the Walkman have moved increasingly into the mainstream of digital and communications technology. They have recently added some […]

Scottish Mutual launches new income bond

Scottish Mutual has launched a new income bond linked to the performance of 30 stocks from the FTSE 100 and the S&P 500. The stocks include Shell, Cadbury-Schweppes, British Telecom, Merrill Lynch and Microsoft and are divided equally between the FTSE and the S&P. Investors can choose between 8.25 per cent annual income, 0.67 per […]

Teachers Building Society – 5.9 Per Cent Fixed Rate

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Pivotal age is not the only factor

I do not feel that the pivotal age is the only factor which should betaken into account in recommending whether one should or should notcontract out of Serps. For example, there are several other factors thatare highly relevant: 1. If one were single, contrac-ted in and died even one day before theirofficial age of retirement, […]


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