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Santander UK rating goes down to A2

Moody’s has downgraded Santander UK and 16 Spanish banks, including Santander parent Banco Santander, due to concerns about their creditworthiness and the Spanish government’s ability to provide support.

Santander UK’s rating fell one level to A2, while Banco Santander’s rating was cut by two to A3.

Five Spanish banks saw their ratings cut by one notch by the ratings agency, three saw their ratings cut by two notches and nine banks by three notches.

Meanwhile, Santander UK last week launched a £2.25bn residential mortgage-backed securitisation, which will be issued via the Fosse securitisation vehicle.



Nationwide launches four-year fix at 3.89%

Nationwide has launched a four-year Flexclusive fixed rate mortgage for both homebuyers and remortgage customers who hold a FlexAccount with the society as their main current account – with a rate of 3.89% for loans up to 70% LTV.

NACFB members to get higher proc fees from Precise

Precise Mortgages is offering members of the National Association of Commercial Finance Brokers an enhanced proc fee of 1.3% rather than its standard 1%. The lender has teamed up with the trade body to promote higher standards in the residential bridging sector. Precise has campaigned for more transparency in bridging lenders’ interest and fee charging […]

Retirement - thumbnail

A downhill stroll?

The Department for Work and Pensions (DWP) has recently published new research, which once again demonstrates how the prospect of retirement is changing for older workers.


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