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GMAC-RFC outsources to HLM

GMAC-RFC is cutting up to 130 jobs among its 700 employees in the UK as a result of a deal to outsource post-completion activities to third-party servicing company, Home Loan Management.

It says some of those facing redundancy will be able to take up new posts at HML.

GMAC-RFC says this partnership with HML will help it almost double its business volumes to over £6 billion in the next three years, making it a top ten lender and help it improve its service to intermediaries.


Location annuity is still in the post for Norwich Union

Norwich Union is putting plans for a postcode annuity on hold and says any decision on the product will not be made until 2004.The life company first mooted the idea of an enhanced annuity based on where people live last June, but says concerns over the complexity of the project mean geographical factors will not […]

Turning over a new relief

I have recently sold a second property in Central London for a substantial profit. I am looking for tax-saving ideas and also longer-term investments that are fairly speculative to take advantage of weak markets. If I buy another property, will I get rollover relief on the funds? Also, can I make a single-premium pension payment […]

&#3916-24 year-olds too relaxed about debt&#39

The Mortgage Lender is warning 16 to 24 year olds have a worryingly relaxed outlook on debt and think nothing of running up debts of £3,130. Research by the specialist lender of 2,000 people last month shows this figure is over double the amount people older than 55 think is an acceptable amount of debt, […]

More Than – Guaranteed Growth Bond Issue 6

Friday, 14 March 2003 Type: Guaranteed growth bond Minimum-maximum investment: £5,000-£250,000 Term: Six years Interest rate: £5,000 – £10,000 5% gross a year, £10,001 and above 6% gross a year Charges: None Return: 5% or 6% gross a year on half of the amount invested at the end of year one, plus 50% of the […]


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