Exhibit 7.1

Abbey National plc
Computation of Ratio of Earnings to Fixed Charges
Based on IFRS

	Year Ended December 31
	2005		2004
	£m		£m
IFRS
Profit before tax		596		(21	)
Fixed Charges: Interest Expense (B) (1) (2)		1,688		2,084
Earnings before taxes and fixed charges (A)		2,284		2,063
Ratio of earnings to Fixed Charges (A/B)		135.31		98.99

	2005		2004
	£m		£m
IFRS
Profit before tax		596		(21	)
Fixed Charges: Interest Expense (B) (1) (3)		4,250		4,174
Earnings before taxes and fixed charges (A)		4,846		4,153
Ratio of earnings to Fixed Charges (A/B)		114.02		99.50

Notes:

⁽¹⁾ Includes the amortisation of discounts and premiums on debt securities in issue and interest payable on finance lease obligations.

⁽²⁾ Excluding Interest on retail deposits.

⁽³⁾ Including Interest on retail deposits.

Abbey National plc
Computation of Ratio of Earnings to Fixed Charges
Based on US GAAP

	Year Ended December 31
	2005		2004		2003			2002			2001
	£m		£m		£m			£m			£m
US GAAP
Profit before tax		431		20		(187	)		(1,218	)		1,485
Fixed Charges: Interest Expense (B) (1) (2)		1,642		2,084		2,426			3,740			5,458
Earnings before taxes and fixed charges (A)		2,073		2,104		2,239			2,522			6,943
Ratio of earnings to Fixed Charges (A/B)		1.26		1.01		0.92			0.67			1.27

	2005		2004		2003			2002			2001
	£m		£m		£m			£m			£m
US GAAP
Profit before tax		431		20		(187	)		(1,218	)		1,485
Fixed Charges: Interest Expense (B) (1) (3)		4,204		4,174		4,074			5,439			7,549
Earnings before taxes and fixed charges (A)		4,635		4,194		3,887			4,221			9,034
Ratio of earnings to Fixed Charges (A/B)		1.10		1.00		0.95			0.78			1.20

Notes:

⁽¹⁾ Includes the amortisation of discounts and premiums on debt securities in issue and interest payable on finance lease obligations.

⁽²⁾ Excluding Interest on retail deposits.

⁽³⁾ Including Interest on retail deposits.