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GMAC-RFC sees self-cert applications double

In less than two weeks since it launched its new self-cert range, GMAC-RFC has seen its self-cert applications double.

With rates from just 4.95%, GMAC-RFC believes it has one of the best rates in the market. It also offers a rapid remortgage option on its self-cert discounted rates.

Income multiples go up to 4.5 + 1 for single applicants or 3.75 x joint

Jeff Knight, head of marketing services at GMAC-FRC, says: “I know that the self-cert market will continue to grow in the future, but I dont think it has doubled in less than a fortnight. So it is clear we are increasing our share in this important market.

“Our current two year fixed rate is proving to be very popular. Add to that our fast turnaround times and award winning on-line system and you can see why intermediaries like GMAC-RFC so much.”


Nationwide fires salvo in mortgage price war

Nationwide today fired the next salvo in the mortgage price war with the launch of a mortgage challenge it says can’t be beaten by Halifax, Abbey, C&G, Woolwich, HSBC, NatWest and Northern Rock – more than 50% of the mortgage market.Borrowers with any lender who are looking to remortgage are invited to take the challenge, […]

Dinosaurs dying on the high street

Throughout this year we have seen a stream of societies closing their high street branches. The dinosaurs are slowly dying out. As I shall try to explain, this is effectively a vote in favour of intermediary sales and a recognition that intermediaries make for a low-cost distribution channel for all mortgage lenders. Too low in […]

FSA appoints new directors

The Financial Services Authority today appointed two new directors and announced some moves among existing directors.Sally Dewar is appointed director of the markets division. Dewar joined the Stock Exchange’s Listing Authority (now the UK Listing Authority) in 1998 and is currently head of primary markets within the markets division. She will report to Hector Sants, […]

Keeping Virtual compliant

Ross Revell has joined Virtual Net as head of regulatory services. Revell, who previously worked with Saga, will ensure the regulatory requirements of the FSA are complied with and that members of the Virtual Net group receive good service.


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