Abbey

Twenty-eight million adults in the UK do not save regularly, research released by Abbey today reveals.

Alliance & Leicester and Abbey have pulled out of the government's pilot for the HomeBuy scheme.

Thousands of endowment mortgage holders may eventually have to fall under the Financial Services Compensation Scheme, as the Scotsman reports a mortgage brokering firm has gone into liquidation which may have mis-sold these products.

An increase in the zero rate stamp duty threshold has done nothing to increase the confidence of the country's first-time buyers, new research suggests.

Over half (52%) of all homeowners have switched lenders at least once in the last five years, according to figures published by Abbey.

The Financial Services Authority has this morning imposed an £800,000 fine on Abbey National - the biggest penalty yet for mortgage endowments complaints mishandling.

MORTGAGE LENDERS are priming themselves to cut loan rates this week on the prospect of a future rate cut, saving homeowners with a £150,000 mortgage more than £400 a year, says the Times.

Michael Brown, Abbey's head of pensions and retirement customer propositions, says IFAs should check and re-check client communications strategies in the lead up to A-Day to ensure they have covered all possible angles.

Abbey is considering the sale of around £1bn worth of commercial property from two of its with-profits funds.

The FOS' decision to uphold a mortgage endowment complaint, arguing a fact find is not sufficient evidence of attitude to risk, has generated IFA feedback asking for consistency of decision-making by the ombudsman.