The deal worth £70 million, was signed on 19 February 2004.
Commenting on the acquisition, Dunfermline’s General Manager Corporate and Social Lending, Peter Weanie said, “ We are delighted to complete this deal with GMAC-RFC. The purchase represents another significant step in the Society’s strategy of continued growth, both through acqusition where appropriate, and increased market share through the provision of competitive products, both resulting in increased member value.”
Stephen Hynes, Capital Markets Director at GMAC-RFC says: “It is very exciting to be carrying out our first pure buy-to-let deal. This is also our first transaction with Dunfermline Building Society and we hope it will be the first of many further deals.”
