AMI welcomes A&L deal

Commenting on the news Chris Cummings, the director general of the Association of Mortgage Intermediaries (AMI), said: "This potential deal represents positive news for the UK mortgage market. It is pleasing that a global player, like Santander, is willing to invest more capital in the UK at this time. It should provide much needed stability for the marketplace and a reassurance about the strength of the mortgage industry in this country.

"The deal does raise the question of consumer choice in terms of the consolidation of the market. The industry and the regulator will need to ensure that these questions are answered during the takeover period. However, if we emerge with a stronger industry it will ultimately benefit consumers.

"Abbey is one of the lenders that has continued to support intermediaries during difficult times in the mortgage market and we are sure this will continue to be the case after any deal is secured."