Tag: Abbey

Santander profit grows 13%

Santander profit grows 13%

Spanish banking giant Santander has today revealed a 13% rise in fourth-quarter net profit to €2.2 billion (£1.9 billion). Meanwhile the bank, which is the second largest banking group in the world after HSBC, said gross income grew almost 24% to €10 billion. For the 2009 year as a whole, net profit was up 1% […]

February 4, 2010 More
Santander begins rebranding of Abbey and B&B

Santander begins rebranding of Abbey and B&B

Spanish banking giant Santander is to begin its integration of UK High Street banks – Abbey and Bradford & Bingley (B&B). Santander, which is the second largest banking group in the world after HSBC, became a household name in the UK when it acquired Abbey for £9.5 billion, back in 2004. In July 2008, it […]

January 11, 2010 More
Lenders woo current account holders with mortgage offers

Lenders woo current account holders with mortgage offers

Banks are increasingly tempting their current account holders with mortgage offers, as they seek to become “one-stop shops” in financial services. Research from financial products analyst, Defaqto, suggests the number of mortgage offers available exclusively to current account customers is on the rise. According to the firm, Abbey offers free valuations and cash back on […]

January 6, 2010 More
Neighbours motivate 95,000 house moves

Neighbours motivate 95,000 house moves

Annoying neighbours are providing a major reason for Britons to embark on a house move, even in today’s difficult market. Information from Abbey Mortgages suggests that 95,000 homeowners have sold up in the last two years to escape the people next door, forming a significant proportion of the UK’s 680,000 home movers during the period, […]

December 7, 2009 More
Abbey captures one-fifth of UK mortgage market

Abbey captures one-fifth of UK mortgage market

Abbey has captured 20.5% of the UK mortgage market. The share is up from 16.3% of gross mortgage lending during the six months to the end of June 2009. Impressively, the bank’s prudent approach to lending meant that arrears of three months or more stood at 1.34% in the third quarter of the year, compared […]

October 29, 2009 More
Abbey rallies first-time buyers: cheaper to buy than rent

Abbey rallies first-time buyers: cheaper to buy than rent

Abbey has been working out accommodation costs for potential first-time buyers currently in the rental sector and has discovered that for those living outside London, it is now cheaper to buy rather than rent. The good news is only for those who have managed to save a 25% deposit but nonetheless means that over than […]

October 11, 2009 More
Nationwide and Abbey launch new mortgage deals

Nationwide and Abbey launch new mortgage deals

Nationwide has cut rates on a range of its mortgages and is offering a two-year fixed-rate deal at 3.88% for home movers, at a maximum loan-to-value ratio (LTV) of 70%. A two-year tracker is available from 2.94% (up to 70% LTV), and for a three-year tracker, rates start at 3.14% for (up to 75% LTV). […]

October 3, 2009 More
Abbey launches broker-only mortgage range

Abbey launches broker-only mortgage range

Abbey for Intermediaries has launched a broker-only mortgage range with no legal or valuation costs attached. According to the lender, the new deal is the first of its kind to be offered to brokers and could save customers up £1,650 in upfront costs. The Homebuyer Plus range includes a two-year tracker at 3.29% for a […]

September 26, 2009 More
Two in five Brits save nothing

Two in five Brits save nothing

Nearly half of UK consumers are failing to save any of their monthly income, research by Abbey found. Two in five Brits are not putting any money aside. However, those who are saving are managing to bank more cash than they were at the start of the year. The average amount saved has increased 26% […]

September 18, 2009 More
Santander to close 6% current account

Santander to close 6% current account

Santander plans to discontinue the 6% current account at its UK banks. The 6% + 6% offer, which pays new Abbey and Alliance & Leicester customers 6% interest on their current account and on monthly savings, will close later this week. Savers taking maximum advantage of the offer could earn nearly £250 interest in the […]

Santander banks launch 4.2% bond

Santander banks launch 4.2% bond

Abbey, Alliance & Leicester, and Bradford & Bingley have announced the launch of a new two-year fixed-rate bond paying interest at 4.2%. Savers can open the bond with an investment of between £10,000 and £2 million. Any withdrawals incur a penalty of 120 days interest. The bonds can be opened by visiting any branch of […]

Abbey giving away £50 an hour

Abbey giving away £50 an hour

Abbey will be giving away £50 every hour next month in a Facebook prize draw. The £36,000 prize draw, open to anyone with a Facebook profile, has been set up to promote the £50 cash bonus given to students opening a new Abbey Student Account. “This free prize draw is a great opportunity for students […]

More homeowners offer room to lodgers

More homeowners offer room to lodgers

The number of homeowners letting out a room to a lodger has almost tripled in the last year, research from Abbey Mortgages has discovered. Nearly one million UK households now include a lodger as homeowners seek to increase their income during the recession. UK homeowners could potentially earn over £6 billion by letting out unused […]

Abbey launches 3.2% business bond

Abbey launches 3.2% business bond

Abbey Business this week launched two new bonds paying up to 3.2% interest and aimed at SMEs. The bonds, available to businesses with a turnover of up to £1 million, are available for business savings between £50,000 and £2 million. The 12 month Fixed Rate Business Bond pays 3.2% gross pa/AER, maturing on 1 September […]

Santander pays 6% on savings

Santander pays 6% on savings

Santander’s UK banks are offering interest rates of up to 6% on monthly savings accounts and current accounts. Abbey’s Super Fixed Rate Monthly Saver and Alliance & Leicester’s (A&L) Premier Regular Saver are both paying the headline rate to savers who invest a fixed amount between £20 and £250 per month. However, there’s a catch. […]

Abbey becomes UK’s second-biggest mortgage lender

Abbey becomes UK’s second-biggest mortgage lender

Abbey and Alliance & Leicester (A&L) are together claiming to be the UK’s second-biggest mortgage lenders, behind HBOS. Both banks belong to Spanish group, Santander, which reported its half-year results this week. The figures reveal that Abbey and A&L were responsible for 16.3% of the UK’s gross mortgage lending during the six months to the […]