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‘Through lending’ reaches the UK

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  • 10/08/2001
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The first 'through lending' mortgage deal in the UK has been launched by GMAC-RFC in conjunction wit...

The first ‘through lending’ mortgage deal in the UK has been launched by GMAC-RFC in conjunction with Market Harborough Building Society.

‘Through lending’ is an established practice in the US whereby a marketing lender will promote and complete a mortgage loan before a purchasing lender acquires it on the day of completion and then services it.

The main benefit for the marketing lender, in this case GMAC-RFC, is that it can add a wider variety of deals to its range, which might otherwise fall outside its normal remit. And the purchasing lender can purchase quality assets without committing any pre-completion resources to the deal. But borrowers are guaranteed that the mortgage they choose will not be changed after the sale.

For more information contact GMAC-RFC on 01344 477477

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