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Abbey National Building Society


The Abbey National Building Society is one of the largest financial institutions in the United Kingdom today. The organisation has its headquarters in Regent Place, England with over twenty thousand employees. They specialise in offering financial services as well as insurance.

The Abbey Road and St Johnís Wood permanent benefit building society was founded in the 1800s. After the merger of the abbey road building society with the national building society, the present day Abbey National Building Society came into being. The building society was based on the principal of mutuality which means that the company is holly owned by the owners and the investors. These building societies also have higher returns on the invested money which make them a lucrative investment option. However, the Abbey National Building Society was de mutualised shortly and was listed in the London Stock Exchange or the LSE. It was one of the first building societies to shift away from the mutuality route and go public. This step was met with an unfavourable opinion from the public. Many mergers, acquisitions of savings accounts from other financial enterprises and joint ventures later, the company developed a strong asset base. Continued high performance of the company gained the faith of the investors again.

Abbey National Building Society came into existence as the result of merger of the following two firms: Abbey Road Building Society and National Building Society in the year 1944. After about 4 decades, Abbey became a PLC in London and entered the country's stock market world. At that period, the price of the share was 1.30 Pounds. In 1996 because of another merger with National and Provincial Building society, the network of the firm almost increased to 200 and the firm gained 3 million customers. In 2004, Abbey became a part of Banco Santander's group of companies and thus came into existence Abbey mortgages.

Being in the financial services industry, they offer insurance and Mortgage solutions to a large number of customers. These solutions are designed to suit specific client needs. Application and information about these services are available online. Quick replies to the queries posted by you online as well as a detailed explanation by the officer allotted for you to clear your doubts quicken the process. Calculating the instalments for your insurance or mortgage can also be previously calculated using the online calculator available on the website besides enquiring about it with the customer care executives.

It boasts to be one of the best banks in the U.K. for Personal financial solutions, improving the quality of people's life. They offer services such as Mortgage, savings, loans, credit cards, long-term investments, critical illness, household insurance, unemployment cover and a lot many personal financial services. For expatriates, off shore banking provision is also available. The services are available either directly to the customers or even through intermediaries. The main offices are situated in London, Glasgow and Belfast. However, there are 705 branches spread all over the United Kingdom employing 16,000 professionals working round the clock, to serve its customers to the maximum possible extent and make their financial problems simpler.

The website of the Abbey National Building Society is carefully designed for the easy understanding of the customers. The press releases are listed on the homepage for the customers to view and know the recent issues and keep themselves updated. On entering the main world of abbey mortgages, one could view the listing of different services provided by the firm. If one wants to avail the mortgage service, one would be given a detailed description about various types of mortgages available and their rates. By going through this information carefully, one could choose which type of service would be ideally suitable for their financial condition.

There is a separate section for first time buyers, which gives them a short lesson on basics of mortgages and guides them through choosing the appropriate kind of mortgage. This is done by carefully evaluating the price of one's property to be purchased, one's financial status like income other debts etc. So if you are new to this mortgage world there is nothing to worry as long as you're in the safe hands of Abbey Mortgages, as we have expertized this art for years.