LIVE FROM JEREZ: Juan Rodriguez Inciarte outlines plans for Abbey

Juan Rodriguez Inciarte, director general of Spanish banking giant Group Santander, says Abbey will win confidence amongst the public and intermediaries by offering more choice, better prices and the products that they really need.

Speaking at the Mortgage Summit in Jerez, Spain, Rodriguez Inciarte told delegates: The way that we can achieve this is by having more integrated and competitive mortgage markets in the EU.

Santanders objective in the UK is to increase competition much in the same way that it has done in Spain.

Flying the flag for further EU integration Rodriguez Inciarte went on to say that European mortgage market integration would lead to a higher housing stock, lower interest rates, higher private consumption and lower GDP.