GMAC-RFC has entered the top 10 for gross mortgage lending after the Council of Mortgage Lenders revised its list of the biggest lenders.Last week, Money Marketing reported that GMAC was 11th but it is now placed in joint 10th place with Bradford & Bingley after the CML sent out a revised set of figures. B&B and GMAC achieved gross mortgage lending of 6.3bn for the year to April 30. For GMAC, this was a 31 per cent increase on the previous year in a market that grew by only 5 per cent. The list shows that GMAC has a 2.2 per cent market share. In 2000, it was ranked 60th in the CML table. Executive chairman Stephen Knight says: “At the halfway point in 2005, we are on track to record double-digit growth in a market that is likely to contract by about 20 per cent.” CML senior statistician James Tatch says: “Since we released the data last month, a small number of lenders subsequently indicated they would be submitting revised figures. It is unfortunate that the revisions occurred and we will be taking steps in future to make the process watertight to prevent revisions wherever possible.”
The Fitzwilliam multi-manager fund is celebrating its 10th anniversary.
Speculation has increased on whether BM Solutions will be entering the equity-release market after the firm surveyed 200 brokers on whether the sector has potential. Asked which market holds the most potential over the next 12 months, 36 per cent of the brokers who were interviewed in June put equity release at the top of […]
Prudential will not use any of its 1bn war chest to buy stakes in IFA firms but will help to finance them, says UK chief executive Mark Wood. The firm’s trading update for the half-year shows a 50 per cent rise in UK and Europe sales to 541m on an APE basis, including the Phoenix […]
New Star’s fund of funds team is offering advisers a free guide to risk in response to strong IFA demand.
Join Trevor Greetham, Head of Multi Asset at Royal London Asset Management (RLAM), for a webinar on 30 March at 2pm. During the update, Trevor will consider how various asset types have fared in 2017 and offer his outlook, using the Investment Clock model to illustrate his views. Find out more here
- Top trends
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Alliance Trust Savings’ new boss must “instil common sense” across the business and start to engage with advisers if they are to salvage the platform’s reputation, IFAs have said. Industry insiders have welcomed news of ATS chief executive Peter Mill’s departure, but say the platform needs to move quickly to fix its service issues. Frustrated advisers are […]
The FCA has said that the Financial Ombudsman Service does not need more guidance on how it should match the regulator’s rules with the complaints adjudicator’s judgments. While the FCA regulates firms according to its handbook, FOS decides on complaints based on a ‘fair and reasonable’ test, that is, whether the claim would be successful […]
The curious goings-on in the world of financial services