Our business

Bradford & Bingley Building Society was formed in 1964 as a result of the merger of the Bradford Equitable Building Society and the Bingley Building Society, both of which were established in 1851. In July 2000 the Society’s voting members overwhelmingly endorsed a proposal from the Board of Directors to convert to a public limited company. The flotation on the London Stock Exchange took place on 4 December 2000 and Bradford & Bingley plc was formed.

On 29 September 2008, all of Bradford & Bingley's (B&B) retail deposit accounts (along with its branch network) were transferred to Abbey, part of the Santander Group. The rest of the business, including the mortgage operation and headquarters, was taken into public ownership by the Government.

Since October 2010, Bradford & Bingley has been managed as part of UKAR (UK Asset Resolution Limited), a holding company that was established by the government to bring together the government-owned businesses of Bradford & Bingley, including Mortgage Express, and NRAM.

The Governance arrangements for UKAR and its subsidiary businesses are managed by UK Financial Investments (“UKFI”) on behalf of HM Treasury, as shareholder. The relationship between UKAR and UKFI is set out in the UK Asset Resolution Limited and UK Financial Investments Limited: Relationship Framework Document (“Framework Document”). To view a copy of the Framework Document please click here.

Following nationalisation, Bradford & Bingley remains closed to new business and is no longer able to offer new mortgage deals or extend terms for existing customers. Our overarching objective is now to repay and create value for UK taxpayers and we concentrate all our efforts on helping our customers make the most of their mortgage and finances while they remain with us.

Find out more about UKAR >

Find out more about how we support our customers >

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Annual Report and Accounts 2017
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