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GMAC-RFC aims to be top 10 lender

Figures released earlier this month by the Council of Mortgage Lenders revealed that GMAC-RFC is now the UK&#39s 13th largest lender with a 1.8% market share, just behind Bristol & West and Bradford & Bingley.

GMAC-RFC head of marketing services Jeff Knight says: “We will reach the top 10 in one or two years. If you look at the top 10 lenders now they all have a direct offering and we will looking to develop one in the future.”

He says this could be done by creating something like GMAC-RFC Direct but no decisions have been made. The lender says its online mortgage system has been a success and that three months after its national launch, 20,000 point-of-sale decisions have already been made.

It is also confident that contrary to popular opinion buy-to-let, one of its lending sectors, is still booming. The lender&#39s research reveals that almost half of those questioned still consider property to be the best form of investment in the current financial climate. This compares with just 14% plumping for the security of a building society and 6% opting for stocks and shares. It also found that if British people had a windfall of £15,000, half would put it straight into property.

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