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12% slice of the loan market for Abbey

Abbey National is fighting back in the face of aggressive action by other

lenders by doubling its mortgage market share to 12 per cent in the first

quarter of this year.

Traditional lenders have recently lost market share to new entrants but

Abbey has reversed this trend.

Abbey says its dramatically increased share is due to an aggressive

pricing policy coupled with the launch of its flexible mortgage product.

Head of mortgage marketing Miles Bingham says: “These figures are better

than those set out in our business plan.”

Scottish Amicable national mortgage manager John Malone says: “Abbey is

keeping in line with the aggression by the likes of Halifax as well as the

success of new entrants in the market including Standard Life.”

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