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Abbey give best mortgage interest rates

15/04/2007

Abbey are offering one of the best mortgage interest rates in the UK.

Abbey are the only lenders which holds over 10 percent of all new mortgage customers.

Their share has increased to 17 per cent of additional business throughout the first quarter of 2008, they are UK’s second largest lenders.

When the credit crunch took place, Abbey had to sustain through the rational quarter of 2008.

The reason why Abbey are able to offer competetive mortgage rates is because they have funding from the European Central Bank, this a sister firm based in Spain also known as Santander.

There aim is to pick up Northern Rock’s remainders and majority of other lenders who can not help new customers obtain a mortgage deal.

A mortgage broker from the John Charcol group, Ray Boulger sugested that Abbey had been one of the few firms not to cut back on lending: "As their parent company are in the ECB, they have had much greater access to funding than other lenders ."


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