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News Tag: Abbey

February 4, 2010

Santander profit grows 13%

by Kay Mitchell
”Santander
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% to €8.94 billion, with good performances in continental Europe, Latin ...




January 11, 2010

Santander begins rebranding of Abbey and B&B

by Kay Mitchell
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 rescued troubled mortgage lender, Alliance ...




January 6, 2010

Lenders woo current account holders with mortgage offers

by Gill Montia
”Lenders
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 certain mortgages to their Abbey or ...




December 7, 2009

Neighbours motivate 95,000 house moves

by Gill Montia
”Neighbours
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, as calculated by the Council of Mortgage Lenders. However, ...




November 20, 2009

Santander entices mortgage borrowers with Zero current account

by Gill Montia
”Santander
Mortgage borrowers with Santander will soon be able to take advantage of a bank current account that attaches no fees to overdrafts, whether authorised or unauthorised. The Spanish banking giant is launching a “Zero” current account on 11th January 2010 to coincide with its rebranding of Abbey, Bradford & Bingley and Alliance & Leicester to the group name. Customers going into ...




November 10, 2009

Special mortgage rates for Abbey current account holders

by Gill Montia
”Special
Abbey and Alliance & Leicester are offering preferential mortgage rates to some existing customers. The lenders, both part of the Santander group, are enticing current account holders who have been with the banks for six months or more with new deals available in branch or on the telephone. The range includes fee-free tracker and fixed-rate home loans, plus an offset mortgage, ...




October 29, 2009

Abbey captures one-fifth of UK mortgage market

by Gill Montia
”Abbey
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 with an industry average of 2.43%. The lender, ...




October 11, 2009

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

by Gill Montia
”Abbey
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 1.6 million potential first-time ...




October 3, 2009

Nationwide and Abbey launch new mortgage deals

by Gill Montia
”Nationwide
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). For those remortgaging and with at least ...




September 26, 2009

Abbey launches broker-only mortgage range

by Gill Montia
”Abbey
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 maximum loan-to-value (LTV) ratio of 75%; a two-year fixed ...




September 18, 2009

Two in five Brits save nothing

by David Masters
”Two
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% since January to £206 per month. Instant access accounts ...




September 7, 2009

Santander offers £100 to new customers

by David Masters
”Santander
Abbey and Alliance & Leicester (A&L) are offering new customers a £100 incentive to switch to their current accounts. The Santander-owned banks are offering the bonus to new customers opening an Abbey Preferred Overdraft Rate account or an A&L Premier Account from today. To receive the cash bonus, customers must fund the account with a minimum of £500 per month at A&L, or ...




September 2, 2009

Santander to close 6% current account

by David Masters
”Santander
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 next 12 months. "This cracking deal is about to ...




Santander banks launch 4.2% bond

by David Masters
”Santander
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 the Santander-owned banks, or online at abbey.com or bradford-bingley.co.uk. Reza Attar-Zadeh, ...




August 25, 2009

Abbey giving away £50 an hour

by David Masters
”Abbey
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 and others to get some extra and unexpected ...




August 14, 2009

More homeowners offer room to lodgers

by David Masters
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 rooms, Abbey said. London is the most popular location ...




August 11, 2009

Abbey warns businesses: 6% deal closing soon

by David Masters
”Abbey
Abbey's 6% savings account for small businesses will only be available until the end of this month, the business banking provider warned this week. "The clock is now ticking and I would urge small businesses who haven't already taken advantage of this offer, to do so before time runs out," said Paula Ickinger, Abbey Business Banking product executive. The account, available for ...




August 5, 2009

Abbey launches 3.2% business bond

by David Masters
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 2010. The 9 month Fixed Rate Business Bond pays 2.8% ...




August 4, 2009

Santander pays 6% on savings

by David Masters
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. To open these top paying savings accounts, customers must either ...




July 31, 2009

Abbey becomes UK’s second-biggest mortgage lender

by Gill Montia
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 end of June. The group's UK operation also turned ...