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Santander woos IFAs in race to buy Abbey

The wooing of IFAs came as a result of rumours that Santander would increase the number of mortgages sold through branches to 50%, at the expense of intermediaries.

Santander has countered that it has no intention of reducing Abbey&#39s dependence on IFAs and that Abbey would remain a UK-based bank.

All things going to plan, it hopes to have the aquisition of Abbey over by November. Things could be complicated by a rival bid from HBOS, although some in the industry strongly believe that any bid would be blocked by the competition authorities.

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