UK bank fined over mortgage complaints

Abbey National was today fined a record £800,000 (€1.1m) for mishandling endowment mortgage complaints by Britain's City watchdog.

Wed, 25 May, 2005 - 10:55

Abbey National was today fined a record £800,000 (€1.1m) for mishandling endowment mortgage complaints by Britain's City watchdog.

The Financial Services Authority said consumers had potentially lost out on up to £19m (€27.5m) of compensation after the bank rejected complaints it should have upheld.

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CourtsBusinessHeathrowPlace: UKPlace: BritainOrganisation: Abbey NationalOrganisation: Financial Services AuthorityOrganisation: AbbeyOrganisation: FSAOrganisation: Allied Dunbar AssuranceOrganisation: Friends Provident Life and Pensions
<p>Nearly two thirds, 62%, of Gen Z respondents in Ireland said the cannot afford a home, significantly higher than the global average of 51% for this demographic of Gen Zs. Similarly, millennials in Ireland are also finding it harder to afford a home compared to the survey’s average, 49% to 40%. File picture</p>

Housing affordability impacting younger generations' career and life decisions

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