(by M.Riley)
Amid the takeover by Santander Central Hispano SA, the UK second-largest mortgage lender Abbey National Plc lost market share in British mortgages.
Net share of new British mortgage lending for Abbey dropped to 4.4% in the third quarter from 6.1% in the previous one. The bank has 11% of existing loans.
The market share slip comes amid the Spain’s Santander takeover as the bank’s shareholders agreed to it, costing to Santander $16.7 billion.