GMAC have decided to cap their LTV to 75 % on self-cert and new build mortgages

As of Friday September the 21st, GMAC will be capping their Loan to Value mortgages for self certification and new builds to 75%.

All other rates and criteria remain unchanged with GMAC, although the recent turbulence may change that.

If you wish to apply for a mortgage with GMAC using their old rates, then there is a deadline of close of business Thursday 20th September.

Julie Gaskin said:

"We will not be changing our rates"

GMAC states that new builds are properties built within two years of the current year.