UK: Abbey National to boost mortgage lending
Article Abstract:
Abbey National, the UK's second-largest mortgage lender, achieved gross lending of GBu 5bn in the third quarter of 2001, more than double that achieved in the year-earlier period. For mainstream mortgages, new business margins rose in the third quarter, reflecting a shift away from loss-making products. It anticipates that it will gain 10% of the mortgage market in 2001. However, it is set to see a 60% fall in profits at subsidiary First National Group, which has been particularly badly affected in the motor finance and retail point of sale sectors.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: PRIVATE LABEL STARTS CORRESPONDENCE LENDING
Article Abstract:
Private Label, the UK's biggest mortgage packager, is introducing US-style corresponding lending into Britain. The new company formed after merging with RFC-MSL, the non-conforming lending unit of General Motors, will operate under the name GMAC-RFC. Private Label will offer brokers GMAC-RFC branded mortgages that will be sold onto major UK lenders upon completion.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: Sub-prime lenders and Namba sign deal
Article Abstract:
Preferred Mortgages and igroup, sub-prime lenders, have agreed a sponsorship deal with mortgage broker trade association, The National Association of Mortgage Brokers (Namba). They join Solent Mortgage Services, mortgage packager, and loans.co.uk, loans company, as the first firms to back the trade body, which will be officially launched in January 2002.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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