how much is GMAC RFC SVR?

note3

Hi, our mortgage was sold by GMAC to Mortgage Express. I'm looking into a possible query with Mortgage Express, but first could someone please tell me what GMAC's SVR currently is.


Many thanks

Thrugelmir

GMAC exited the European mortgage market fully in 2010. After selling what remained of it's mortgage book.

What's the reason behind your question?

note3

thanks for your reply. Our neighbour said his mortgage remained with GMAC and is paying their SVR of around 2 point something percent so i'm guessing that can't be right then.

Basically, our GMAC contract states that when our fixed rate ends, if we do not remortgage we will switch to the GMAC RFC SVR. When we were switched to Mortgage Express they clearly stipulated in their welcome letter that all our terms and conditions remain unchanged and the only difference from switching was that our direct debit account number and payee would change. I figured this meant we should also be liable to pay GMAC rate instead of extortionate MExpress rate.

Thrugelmir

When mortgage books are sold on. The name of the lender will remain the same. However the actual Company which holds the mortgage book ( the outstanding debts) will be under new ownership. The new owners will therefore set the SVR rate.

In essence the sold on mortgage books will be ring fenced and wound down over down to zero. As mortgage repayments are made and mortgages are redeemed.

note3

Oh what a shame. ..was clinging on to that hope! Thanks for the info

Siliquaesid

:beer:

https://forums.moneysavingexpert.com/discussion/5178579

Start to ask Paratus AMC some questions. Paratus is the "new" name for GMAC RFC.

SPREAD THE WORD, twitter, facebook pinit etc. Get this information out there. I'm sure I can find a LOT more regarding other mortgage "lenders".

Right-click on each of the "pictures" below in turn, copy image url then paste into the link bar or your browser.





ENJOY

Siliquaesid

https://forums.moneysavingexpert.com/discussion/comment/68058966#Comment_68058966

These articles are the result of 5 years of research into the questionable activities of these companies. THere is still a WHOLE load more dirt to uncover, but what I state is PROVABLE and I can provide the documents to do so, in fact I will, to the Police, on Monday 30 March 2015.

Feel free to conduct your own research too, you may well uncover something important.

ENJOY.. Pass it round, post it on Facebook, newspapers where EVER you can. Let's get this VIRAL.