Abbey National has launched a Cat-marked Isa FTSE 100 tracker product over the internet. This is par...
Abbey National has launched a Cat-marked Isa FTSE 100 tracker product over the internet.
This is part of a package of internet initiatives being put out by the group. This includes an online application facility for personal loans and a service which enables existing and potential clients to apply for and agree provisional mortgages online.
The interest rate on personal loans applied for online will start from 9.9%pa and customers will also be able to calculate their own loan repayments using an internet payment calculator.
The group estimates that the level of mortgage can be agreed provisionally within three minutes over the internet, giving customers an agreed amount before they start house hunting.
This can be followed up with an agreement in principle, within two hours. Customers can also check monthly repayments for any Abbey National mortgage offer with the screen calculator, or arrange for a call back from a qualified financial adviser whenever convenient.
Ambrose McGinn, e-commerce director at Abbey National, said: "These e-commerce proposals are a further step toward the future of Abbey National's full internet banking service, to be formerly launched in early spring.
"The rapid growth of the internet has changed the face of financial services across the globe. The new e-commerce initiatives have been designed to make accessing and applying for financial services easier and will complement our planned on-line banking facilities and our existing branch network."
What made financial headlines over the weekend?
Developed by industry-wide group
Joined in 2002
'Educate clients' children'
Raised £15m earlier this week