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Gmac launches exclusive range for packagers

Gmac-RFC is launching a new range of non-conforming products exclusively for packagers and remote processors.

Gmac is keen to build on its relationship with the packaging sector and will be launching further packager-only products.

The non-conforming three year fixed rate has four levels of adverse for both standard and right to buy mortgages. LTV starts from 75 per cent and goes up to a maximum of 95 per cent on light adverse and to 85 per cent for all other levels. Rates start at 5.65 per cent.

Head of marketing services Jeff Knight says: We have seen a dramatic increase in our packager business over the last few months. We are further supporting this sector with an exciting new range of products.


Standard sends out form reminders

Standard Life is sending out letters to 19,000 advisers updating them on its proposed demutualisation and urging them to remind their eligible clients to return the validation form. Forty per cent of members have not returned their forms yet.

Elephant Aim flotation to take place today

Elephant, the mortgage and loans packager will float on Aim today.The firm says it will continue to exceed budget with October being a record month for turnover and profits.Elephant says its shares have been oversubscribed, with as many as 21,666,6666 shares being issued at 3 pence a share, and a market capitalisation value at 6.3m.

Krona jewels

Swedish independent consultant and former director of fund analysis for Morningstar Europe, Niklas Tell on how Sweden’s reformed pension system is keeping costs down.

Shooting from the Hip

Housing information packs Consumers need clarity on Hips, says London & Country head of communications David Hollingworth.


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