GMAC-RFC and Market Harborough Building Society have today announced their third through lending product. The product is marketed by GMAC-RFC and Market Harborough Building Society acquires the mortgage assets the day after completion. The new product is called The Stepped Lifetime Discount Mortgage and is to be marketed through intermediaries on a semi-exclusive basis. The product's rate is 2.99 per cent for the first year. A discount of 1.50 per cent is offered in the second year, and a 1 per cent discount thereafter for the lifetime of the mortgage. A cashback of £350 is offered to customers, and there is no application fee on remortgages up to £300,000.