ABBEY has lost a share of the mortgage market in the last three months as its takeover by Spanish Banco Santander is thought to have affected its performance, says this morning's Daily Telegraph .
Figures released yesterday by Abbey reveal their market share of the mortgage sector fell in the third quarter to 4.4% from 6% and its lending dropped from £1.1bn to £400m, partly because of a weaker mortgage market in general. That said, gross lending has increased slightly as a little more remortgaging business came through financial advisers. Figures compiled by the Office for National Statistics are likely to continue to be wrong for many more years, the ONS’ director has confessed, says the Times. Len Cook, the director of the ONS told the Treasury Select Committee he was stru...
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