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GMAC-RFC reports biggest week of 2005

GMAC-RFC reports its biggest week of 2005, with a record number of weekly applications.

This week has been the biggest week in 2005 so far for the lender, which is attributing the rise in volumes to its service levels, the introduction of broker-friendly technology that includes the cascade system, and competitive products.

John Malone, managing director at Premier Mortgage Service, says: “I’m not surprised that GMAC-RFC has smashed its previous records. Since we formed our relationship with GMAC just over a year ago, we have seen our business volumes significantly increase month on month.

“A year on we have also experienced superb, consistent service, coupled with extremely acceptable products for the intermediary community linked with a well thought out and exceptionally well conceived technology system.

“With the last year behind us, we look to better those exceptional volumes in the coming 12 months.”

Jeff Knight, head of marketing at GMAC-RFC, says: “With our combination of competitive products, great service and, of course, our award winning on-line system, I’m looking forward to breaking even more records very soon.”


Non-compliant advertising on the rise

Research undertaken by Mortgages PLC has revealed an increase in the level of non-compliant mortgage advertising taking place this year.A detailed review of advertising in popular consumer mortgage magazines was carried out in both April and September 2005. In April, 24% of all mortgage advertising was found to be non-compliant, with the most common issues […]

Britannia launchs three-year fixed rate deposit account

Britannia International has launched a three-year fixed rate deposit account, paying up to 4.65% gross p.a./A.E.R.Available immediately for investments of 1,000 or more, the three-year fixed rate deposit issue 14 also offers a monthly income option with a fixed rate of 4.50% gross p.a. (4.59% A.E.R.). The maximum deposit is 1m. Additional deposits or withdrawals […]

Biddle re-enters market with Infinity

Simon Biddle, Mortgage Strategy columnist and former marketing director of Preferred Mortgages , has joined sub-prime lender Infinity Mortgages as head of marketing and communications. He left Preferred in February 2004 to take a career break, but says now is the time to re-enter the market. He says: “I felt it was the right time […]

Chelsea adopts L&G POS system

Chelsea is the first building society or bank to adopt Legal & General’s expanded single point-of-sale system Online Protection. This extends its existing general insurance relationship with L&G to include, for the first time, the sale of L&G’s life assurance products.

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


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