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News Tag: Abbey

July 18, 2009

Abbey launches four-year fix at 5.99%

by Gill Montia
”Abbey
Abbey is offering a new four-year fixed-rate mortgage with a maximum 85% loan-to-value (LTV) ratio at a rate of 5.99%. The deal is available at Abbey branches or by telephone, for both house purchasers and remortagers. A £995 fee applies and the Homebuyer Solution comes with a free valuation and £250 cashback on completion, whereas the Remortgage Solution offers a free valuation and ...




July 2, 2009

Santander rebrands commercial banking units

by David Masters
Santander rebrands commercial banking units
The commercial banking wings of Abbey and Alliance & Leicester were yesterday renamed under the Santander brand. Santander-owned Abbey UK Corporate Banking and Alliance & Leicester Commercial Bank were rebranded Santander Corporate Banking. A total of 20 regional corporate banking centres will undergo the name change this year, including centres in Birmingham, Cardiff, Glasgow, Hull, Liverpool, and Reading. Centres in Nottingham and Manchester will be ...




June 23, 2009

Earn 6% interest with Abbey’s packaged account

by David Masters
Earn 6% interest with Abbey's packaged account
Abbey is paying a 6% interest rate to its premium current account holders. The Santander-owned bank is offering the rate on balances up to £2,500 to customers opening the new Abbey Reward Account. To benefit from the headline rate, customers must deposit at least £1,000 per month into the account. Other benefits of the £10-per-month packaged current account include annual worldwide travel insurance ...




June 16, 2009

Fixed rates begin their ascent

by Gill Montia
”Fixed
The much forecast rise in fixed rates is well underway with Abbey announcing that it has put up the cost of its fixed-rate mortgages by between 0.25% and 0.5%. Lloyds banking group has also increased the cost of some fixed-rate deals via its Cheltenham & Gloucester and Halifax brands. The lenders are following a trend set by Nationwide last week when the building ...




June 12, 2009

Santander rebrands Abbey credit cards

by David Masters
Santander rebrands Abbey credit cards
Abbey credit cards will be rebranded under the name of Santander, Abbey's parent company, from next week. The rebrand follows last month's announcement that the UK's three Santander-owned banks, Abbey, Bradford & Bingley, and Alliance & Leicester, will next year merge into a single bank and adopt the Santander global brand and name. All new and replacement credit cards issued by Abbey from 15 ...




June 5, 2009

Abbey launches 3.2% business bond

by David Masters
”Abbey
Abbey is offering business customers a fixed interest rate of 3.2% on its 12 month Fixed Rate Business Bond, maturing 1 July 2010. The Santander-owned bank has also extended the offer period for its 9 month Fixed Rate Business Bond, paying 2.8% interest and maturing 1 April 2010. Both bonds are available to businesses with savings between £50,000 and £2 million, and can be ...




June 3, 2009

Homeowners look to fix as enthusiasm for SVRs wanes

by Gill Montia
Homeowners look to fix as enthusiasm for SVRs wanes
Britons appear confident that the Bank of England's base rate has bottomed out at 0.5% and are therefore favouring fixed-rate mortgage deals. According to Abbey's mortgage index, last month 60% of homeowners preferred the idea of a fixed-rate home loan, on the basis that it could offer protection from future rate rises. The figures compares with 52% favouring a ...




May 27, 2009

Santander to rebrand Abbey, A&L and B&B

by Kay Mitchell
”Santander
In a move which will cost £12 million, Santander is to re-name its UK High Street banks: Abbey, Alliance & Leicester (A&L) and Bradford & Bingley (B&B). According to Santander, the move is aimed at saving £180 million from integrating the three banks. The move would also allow the UK business to use the "expertise and product developments from Santander's global ...




May 26, 2009

Holidaymakers spend £73m on unnecessary currency fees

by David Masters
Holidaymakers spend £73m on unnecessary currency fees
Brits taking their summer holiday abroad this year will spend £73 million on debit and credit card fees, it emerged this week. Research by Abbey Credit Cards found that British holidaymakers pay an average of 3% in conversion fees every time they use an overseas ATM or spend money on their card in a foreign shop. Seven in ten (69%) of those ...




May 12, 2009

Abbey relaunches ‘fee-free’ Zero credit card

by David Masters
Abbey relaunches 'fee-free' Zero credit card
Abbey yesterday relaunched its Zero credit card, providing fee-free currency exchange and cash advances. The card is the only one currently available that offers these services for no fee. In addition, the Abbey Zero offers 0% interest on balance transfers for 12 months, and on purchases for three months. Roger Lovering, managing director of Abbey Credit Cards, said the Zero "really is the ultimate ...




May 7, 2009

Santander launches 4.01% fixed-rate bond

by David Masters
”Santander
Santander's UK banks have launched a new two year fixed-rate bond paying interest at 4.01% gross p.a./AER. Minimum deposit is £30,000, and maximum deposit is £2 million. The bond is available in store from branches of Abbey, Bradford & Bingley, and Alliance & Leicester. Reza Attar-Zadeh, director of savings and investments at Santander UK, said Santander customers benefit from 'the safety and security of one ...




May 1, 2009

Fixed-rate mortgages popular with homeowners

by David Masters
Fixed-rate mortgages popular with homeowners
Fixed-rate mortgages are set to grow in popularity because the base rate was held rather than cut last month, Abbey claimed this week. Research by the mortgage lender found that the number of people who believe the base rate has fallen as low as it will go has doubled in the past month. Meanwhile, the number of homeowners holding out for a lower base ...




Interest on Abbey mortgages lowest for 10 years

by David Masters
Interest on Abbey mortgages lowest for 10 years
Abbey has launched a new range of fixed-rate mortgage products which it claims are the best it has offered in a decade. The Santander-owned bank said interest rates on three of its new mortgages are the lowest in ten years. Available at a maximum 75% loan-to-value (LTV), the new products include a 3-year fix at 4.09%, a 7-year fix at 4.99% ...




Brits embrace ‘no frills’ lifestyle

by David Masters
Brits embrace 'no frills' lifestyle
Credit crunched Brits are embracing a 'no frills' lifestyle in an effort to cut costs, new research has discovered. A study by Abbey found that six in ten (58%) UK consumers are more likely to fill their shopping trolleys with no frills products compared to a year ago. Flashy purchases are shunned as a waste of money, whilst shopping on a budget is considered ...




April 22, 2009

HSBC tops customer service league

by David Masters
HSBC tops customer service league
HSBC is the best high street bank for customer service, according to mystery shopper research by Prophet. The innovation strategy consultants found that of the ten banks surveyed, only HSBC and Citi offer a customer experience 'above expectations'. Barclays came in third place behind HSBC and Citi, providing a customer experience that met expectations. Lloyds TSB and the Post Office were the worst for customer ...




April 9, 2009

Abbey: Invest a lump sum to maximise ISA returns

by David Masters
”Abbey:
Savvy savers should invest as much as possible in their individual savings account (ISA) to maximise their interest payments for the year, Abbey Savings said this week. Last year, only a third of savers earned the maximum possible interest by depositing all their savings in a lump sum at the beginning of the tax year. Abbey also revealed that one ...




March 23, 2009

Cahoot launches 4.01% fixed-rate bond

by David Masters
Cahoot launches 4.01% fixed-rate bond
Internet-bank Cahoot has launched a new two year fixed-rate bond paying interest at 4.01% gross/AER. Customers must deposit at least £30,000 into the bond, whilst the maximum investment is £2 million. The rate almost matches ICICI's market leading offer of 4.18% interest, and is significantly higher than the average instant access savings rate of 0.63%. Matthew Timms, managing director of Santander-owned Cahoot, said: "The new ...




March 16, 2009

Brits ‘needlessly’ pay £9bn in credit card interest

by David Masters
Credit card holders in the UK are needlessly paying out over £9 billion in interest payments every year. Research by Abbey credit cards found that many card holders are paying interest on their credit balance when they could save significant money by switching to an interest free credit card. Seven in ten (69%) Brits have at least one credit card, with an average credit card debit of £3,256, Abbey found. However, more than ...




March 6, 2009

Abbey launches ‘market leading’ credit card

by David Masters
Abbey launches 'market leading' credit card
Abbey launched a new 'market leading' credit card this week. The reissued Abbey Credit Card now offers 0% interest on balance transfers for 15 months and on purchases for three months. Interest after the introductory period rises to 15.9% APR. Abbey said it decided to release the card as a way of helping people better manage their finances through the recession. Recent research by Abbey ...




March 4, 2009

Abbey’s new instant access saver pays 3%

by David Masters
Abbey's new instant access saver pays 3%
Abbey has launched a new issue of its instant access saver account, paying interest at 3% gross/AER. This is equivalent to 2.4% after tax. It should be noted that the 3% rate includes a 1.5% bonus for the first 12 months. Savers can invest anything from £1,000 to £2 million, and can make an unlimited number of withdrawals without incurring any penalty. The ...