GMAC-RFC claims its 2006 lending was five times the market rate of growth and says it believes this to be the strongest growth of any major lender last year.
It says its pre-audit lending for 2006 is £12.1bn which represents 75 per cent year-on-year growth.
But John Charcol senior technical adviser Ray Boulger believes the lender has overestimated the figure and expects GMAC’s lending to come in nearer four times the market rate of growth.
GMAC estimates that the market grew by 15 per cent last year but Boulger says the figure is between 18 and 20 per cent.
Final figures are not yet confirmed for 2006 but Boulger believes that total lending will be around £340bn to £345bn.
Boulger says: “Fifteen per cent is too low as an estimate for market growth and GMAC is flattering itself a bit more than necessary. I do not see the point in exaggerating the claims when it has got a perfectly good claim anyway.
“But a lot of the claims it makes are legitimate because it has been at the forefront of technological developments including automated processing.”
GMAC director of marketing Jeff Knight says: “We realise that others are trying to copy our business model and we are more than happy about that.
“Then, of course, there are those who do not have this technology who will criticise it or attempt to mitigate its impact.”