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GMAC hopes General Motors brand will drive mainstream mortgage success

Sub-prime lender GMAC Residential Funding is set to enter the mainstream market as part of a rebranding exercise.

The General Motors subsidiary is looking to capitalise on the global reputation of its owner by changing its brand at the same time as launching mainstream loans.

GMAC-owned packager Private Label has been the public face of the lender since it was taken over in 1998. But GMAC wants to take a more high-profile role and is changing its logo and literature to include the General Motors name.

Private Label&#39s logo will change to the same design as GMAC, whose name will be included on the packager&#39s literature. GMAC hopes Private Label&#39s profile will bolster its move into the mainstream sector.

The first products to be offered under the GMAC lending brand will be a two-year fixed-rate mortgage at 4.99 per cent and a self-certification loan fixed at 6.45 per cent until May 2002. The loans then revert to GMAC&#39s standard variable rate of 7.45 per cent.

GMAC marketing director Simon Knight says: “Leveraging the company&#39s strengths in securitisation, lending and investment in the UK, we are already seeing the benefits of a global exchange of knowledge.”


Scottish Life – Retirement Solutions – Group Stakeholder Pension Option

Tuesday, 13th February 2001.Type: Group stakeholder pension option.Minimum premium: £20.Minimum group size: 5.Minimum-maximum ages: 0-74.Fund links: Pensions managed, deposit, defensive managed, UK equity, UK ethical, UK mid-cap, European, American, Pacific, property, fixed interest, index linked, global managed, worldwide, security 100, security 98, Scottish Life/Schroder Hermes UK index tracker.Charges: Annual 0.45-1 per cent, transfer values 0.2-1 […]

&#39Skill&#39 analysis puts Jupiter on top for UK Isas

Jupiter has stormed to the top of the UK all-company sector in a risk-reward analysis by online independent fund monitor Isa-TopTen. Its analysis is based on statistical research of growth, risk and consistency as it believes this shows a fund manager&#39s skill rather than luck. The latest monthly analysis on its website shows most funds […]

Part-timers&#39 go-ahead to backdate benefits to 1976

Around 40,000 part-time workers have been thrown a pension lifeline by a House of Lords&#39 ruling which allows benefits to be backdated to 1976. The landmark decision means IFAs have just six months after clients have left their employers to help them claim for their entitlements and potentially bolster their retirement income by thousands of […]

Extra helping from LeggMason

LeggMason Investors is targeting individual savings account (Isa ) investors by making its extra income portfolio fund of funds available as an Isa. The fund will consist of an actively managed portfolio of UK unit trusts and open ended investment companies (Oeics). It aims to produce a gross yield of 5 per cent each year. […]


Five ways to make your employee focus group session a success

by Debra Corey, group reward director  You just planned and booked what you thought was the perfect vacation for you and your family. You call everyone together to share the great news and instead of receiving sounds of glee and delight, you receive groans and complaints.Your youngest says: “I hate beaches, didn’t you know that?” (You think to […]


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