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Ruling upheld against Abbey National

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  • 12/09/2002
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The Financial Ombudsman Service has upheld a ruling that Abbey National denied existing customers lo...

The Financial Ombudsman Service has upheld a ruling that Abbey National denied existing customers lower rates on some variable rate contracts while making them available to new customers. The ruling concerned a customer who wanted to switch to a tracker from a standard rate, however, the Ombudsman did say the lender could demand a redemption penalty while switching. Abbey National declared itself ‘disappointed’ and said it would compensate other customers who complained.


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