This deal comprises of a blended pool of prime, buy-to-let and self-cert products and was completed on the 29 September 2006.
Craig Beresford, director of asset sales at GMAC-RFC, said: “It is great news to yet again complete a deal with our long standing and valuable partners at Britannia Treasury Services. Our 'create and trade' strategy is built on strong relationships at both ends of the business model, which in turn contribute to the growing maturity of the secondary trading sector as a whole.”
Beresford continued: “GMAC-RFC continues to lead the UK market in creating and trading mortgage assets and looks forward to ongoing business with Britannia and other partners in this field throughout 2006.”
Britannia board member Gerald Gregory added: “We are delighted to continue our excellent relationship with GMAC-RFC by completing our eleventh portfolio sale with them. Mortgage asset trading is a valuable part of our business and we recognise the increasing role of the secondary market. Building on our strong half-year performance this purchase represents another step in our strategy of continued growth and of delivering value to our members.”
