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GMAC-RFC fixing loan for two years at 3.99%

GMAC-RFC is offering a 3.99 per cent two-year fixed rate loan and revamping other mortgages in its range.

The new loan offers 3.99 per cent up to 75 per cent loan to value and 4.19 per cent up to 95 per cent.

There is a procuration fee of 0.35 per cent of the loan.

The firm has revamped its Star discount product which now offers a discount of 1.5 per cent up to an LTV of 75 per cent and a 1 per cent discount on an LTV up to 85 per cent off its standard variable rate which is currently 5.74 per cent.

Head of corporate communications Gina Collman says: “Fixed-rate deals continue to be in demand for borrowers who are keen to be able to fix their mortgage rate so they can manage their outgoing and budget for repayments. We foresee these products as being popular with introducers and their clients alike and another valuable asset to GMAC-RFC&#39s stable of competitive offerings.”

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