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GMAC-RFC launches new non-conforming mortgage range

GMAC-RFC has announced new rates for non-conforming mortgages, starting at 5.24 per cent.

The range of discounted and fixed rates are available on a status or self cert basis and were designed after research found that borrowers have a wide range of varying levels of adverse credit.

GMAC-RFC head of marketing services Jeff Knight says: “One thing we found in our research was that the majority of non-conforming borrowers had just minor levels of adverse credit. These new rates are designed with the needs of such borrowers in mind and are very close to mainstream rates, allowing intermediaries to punch their true weight.”

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