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GMAC-RFC sells £1.1bn portfolio to Bradford and Bingley

GMAC-RFC has made its fifth transaction in 2007 with the sale of a £1.1bn portfolio to Bradford and Bingley.

The portfolio comprises of prime, self cert and buy to let asset and was completed on August 31.

The lender says that this is its 100th portfolio sale.

GMAC-RFC director of asset sales Craig Beresford says: “I am absolutely delighted that we have been able to deliver our largest ever sale to one of our longest standing, trading partners. This is the twenty third transaction between ourselves and Bradford and Bingley and is testament to the strength of the relationship between the two organisations.

“Key partners such as Bradford and Bingley have enabled GMAC-RFC to grow its franchise in the UK in both the primary and secondary mortgage markets. GMAC-RFC looks forward to continuing to successfully trade with all our partners, and to continue adding to our portfolio of whole loan investors over the coming months and years.”

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