GMAC-RFC announces portfolio sale to Bradford and Bingley

GMAC-RFC today announces its largest ever portfolio sale in its five year trading history to Bradford and Bingley.

This is the fifth transaction of 2007 and forms part of the forward sale agreement between the two parties. This £1.1 billion deal comprises of prime, self cert and buy to let asset and was completed on the 31st August 2007. To mark the success, this is GMAC-RFC’s 100th portfolio sale.

Craig Beresford, Director of Asset Sales at GMAC-RFC, says: I am absolutely delighted that we have been able to deliver our largest ever sale to one of our longest standing, trading partners. This is the twenty third transaction between ourselves and Bradford and Bingley and is testament to the strength of the relationship between the two organisations. Key partners such as Bradford and Bingley have enabled GMAC-RFC to grow its franchise in the UK in both the primary and secondary mortgage markets.

Beresford continued: “GMAC-RFC looks forward to continuing to successfully trade with all our partners, and to continue adding to our portfolio of whole loan investors over the coming months and years.”