GMAC-RFC retains top 10 status

Recent figures released by the Council of Mortgage Lending (CML) confirm that GMAC-RFC is the 10th largest mortgage lender in the UK. The lender’s phenomenal growth in 2006 means that it is now hot on the heels of High Street brands - Alliance & Leicester and HSBC.

GMAC-RFC’s growth rate in 2006 outstripped the market as it grew mortgage advances by 75%, in a market that grew by 15%. It did so by taking market share from many different competitors across mainstream, self cert, buy to let and non conforming sectors.

Commenting on the latest figures, Jeff Knight, Director of Marketing at GMAC-RFC said: “In 2006 we witnessed the highest growth rate in 2006 of any lender in the UK. This is because we have a powerful proposition for the market place which combines our award winning on-line system, first class service, competitive products and exceptional people. It’s a win:win:win for us, our brokers and packagers and consumers alike. Yet we know we can not take our success for granted and will continue to look for ways to enhance our proposition further in the future

“We also welcome the CML’s decision to present a fairer and more accurate representation to the industry by starting to move towards changing the way it calculates lender data, and by comparing companies on a like for like basis.”