Expat mortgages go as Abbey closes offshore operations

Abbey National Offshore is closing its worldwide operations and effectively pulling out of the offshore market, except for plans to continue with deposit accounts. In an official statement, Abbey National says it is longer accepting new clients and will close Inscape Offshore - its Jersey investment centre - and its trust operations at the end of August but will still conduct cash transactions and deposits with British expats and institutional investors over the telephone and internet. Despite this move and a decision to close all of its Dubai, Gibraltar, Hong Kong, Portugal and S...