Available via Advantage’s online non-conforming mortgage solution, e:valuate, the enhancements are part of GMAC-RFC’s on-going commitment to creating innovative solutions for brokers and clients.
The range now includes self-certification for up to 95% LTV (purchase only) which is likely to prove an extremely popular choice with brokers and their clients given the growth in the self-certification market, it also includes the following key features:
- Adverse is now calculated by number of CCJ's rather than value
- Defaults are now ignored across the entire non-conforming product range
- Discharged Bankruptcy and IVA's will now be accepted across the non-conforming product range
- First Time Buyers self-certifying on a Right-to-Buy product can now benefit from 85% LTV
- Loan sizes have increased to £750,000 on selected products
Additional features exclusive to the G200 range include:
- Rate reductions including non-conforming discount rates starting from as low as 5.58% and fixed rates from 5.59%.
- Rolling end dates have also been introduced for both fixed and discount rates
Sarah Jones, product manager, Advantage Home Loans, said: “We are delighted to add this newly enhanced range to the Advantage platform. It is encouraging that lenders such as GMAC-RFC are continuing to enhance and up-date their product range to reflect the changing broker and client needs. As the market grows, it is imperative that lenders keep up with the pace by creating innovative solutions for the broker and their clients to choose from.”
Roger Brown, director of Partner Division at GMAC-RFC said: “With the Partner product range we have given a clear distinction between business coming in direct and through our Partners and we are pleased to have Advantage on board. We are thrilled that the new range has been embraced by our Partners and are committed to working with this channel to be their number one choice.”
