BBVA pulls out of UK mortgage market
Spanish bank BBVA has pulled out the UK mortgage market.
The bank offered a range of impressively priced term-tracker mortgages without early repayment charges. It also provided large mortgage loans and helped British borrowers purchase properties in Spain.
A BBVA spokesperson was quoted as saying: “Mortgages are not a core part of our activity in the UK. We continue to offer retail banking services, but our focus in the UK is really on commercial and CIB banking solutions.”
Banco Bilbao Vizcaya Argentaria (BBVA), authorised by the Bank of Spain, has a global workforce of 138,000 employees in 35 countries. It has 67 million customers across the world.
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