Abbey

Bank of Scotland received the highest amount of complaints relating to mortgages and home finance in the first six months of the year, Financial Ombudsman Service (FOS) figures show.

John Deane talks to Paul Robertson on management of a multi brand proposition, mutuality and the ever present protection gap.

Abbey and Alliance & Leicester has become the second biggest mortgage bank in the UK by claiming a 16.3% share of gross mortgage lending in the first half of 2009.

Spanish banking giant Santander is to rebrand its UK high street brands, with Abbey, Alliance & Leicester (A&L) and Bradford & Bingley (B&B) all to become known as Santander by the end of 2010.

Abbey, which is controlled by Spanish banking juggernaut Santander, has hired the advisory firm Gleacher Shacklock to dispose of its Isle of Man offshore banking unit.

Abbey for Intermediaries (AfI) and Alliance & Leicester Intermediary sales are to mark the launch of their new integrated sales force by introducing two broker exclusive products.

Rates on Abbey's fixed range of mortgages will be cut by up to 0.3% today, the lender says, with deals set to start at 3.99%.

Banco Santander has announced it is to cut 1,900 jobs across its UK businesses, Abbey, Alliance & Leicester and Bradford & Bingley, next year.

Abbey has attracted fierce criticism from brokers following its decision to implement a £199 fee for customers who wish to switch to another product.

Banco Santander has snubbed 1.8 million small shareholders in Britain, excluding them from taking part in its €7.2 billion (£6 billion) capital-raising, The Times says.