Abbey UK’s biggest mortgage lender
A new survey conducted has revealed that Abbey are the UK's biggest mortgage lender.
Throughout the first half of 2008, Abbey mortgages catered for 25 per cent of all completed applications, this will create it to effectively topple rival Halifax, owned by the Halifax Bank of Scotland.
Competition has become incredibly more and lenders need to be affordable in order to attract new customers.
A spokesman from Abbey explained that they have been happy to help existing and all new customers. Its exposure to the complex mortgage-backed investment has caused problems for its rivals.
The credit crunch status remained tragic, during these stages Abbey increased its mortgage lending from 4.9 per cent in the first quarter of 2007 to 15.9 per cent in the same period, 2008.
Data gathered suggested that due to new results, profits would increase to £4.87 billion in the first half of 2008.