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Partners division proves success for GMAC-RFC

Since the launch of it’s Partners range in March this year, GMAC-RFC says it has experienced a strong increase in the take-up of its exclusive product range amongst packagers.

To date, applications on the range have exceeded 1bn with some Partners reporting that their business levels with GMAC have increased significantly.

The formulation of the tailored product range for packagers was the result of a lengthy process of research and planning and was intended to mirror GMAC-RFCs strong intermediary business growth on the packager side.

To date there are around 70 Partners on the panel and some, such as Pink have reported an impressive rise in business with the UKs 10th largest mortgage lender of up to 45% since the launch.

Roger Brown, director of GMAC-RFC Partners, says: There is nothing as rewarding as a successful partnership and Partners has proved to be that and more.

“We took a long time to prepare for this new venture because we wanted to get it right and I think the figures speak for themselves.

“The success is down to the competitive product range and our Partners enthusiasm to promote the range on our behalf.


Tesco launches business credit card for sole traders

Tesco Personal Finance has today launched the Tesco Business Card, which is specifically targeted at the UK’s 2.5 million sole traders.This is the company’s first move into the business market, offering an interest-free period of up to eight weeks, a rate of 13.9% and a unique fuel scheme, which rewards small business owners with money […]

House prices grew by 0.3%, says Nationwide

Nationwide says house prices grew by 0.3% in June, the third month in a row of subdued growth. The annual house price growth is now at 5% and Nationwide says affordability constraints will continue to bite. Supply constraints will continue to support house pricesFionnuala Earley, group economist at , says: House prices grew by 0.3% […]

FSA fine for inadequate controls could be just the start

The Financial Services Authority last week fined a mortgage firm 35,000 for failing to have adequate systems and controls in place, and industry sources say this is just the tip of the iceberg. Brokerage Rainbow Homeloans was fined by the FSA for “systems and controls failings which exposed around 1,000 people to the risk of […]

Tomorrow’s distribution options

Following industry concern about retail distribution models being under strain, the FSA commissioned KPMG to work up some scenarios for an evolving market, says Bill Warren


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