Bradford & Bingley
- In September 2008 all Bradford & Bingley’s (B&B) retail deposits were transferred to Abbey, part of the Santander Group. The rest of the business, including Mortgage Express, the mortgage operation and headquarters were taken into public ownership.
- The retail deposits were covered by the £15.65bn Financial Services Compensation Scheme (FSCS) Loan and the Government provided a further £11.32bn of funding.
- UK Asset Resolution Ltd (UKAR) became the holding company for B&B in 2010.
- By 2018 the FSCS loan had been repaid in full, and by May 2019 the taxpayers’ £11.32bn investment in B&B had been repaid in full.
- In October 2021, B&B was returned to the private sector.
If you are, or were previously, a customer of Bradford & Bingley or Mortgage Express, these businesses are no longer owned by UKAR. Responsibility for any past or present relationships remains with those companies and you can find out how to contact them on the Bradford & Bingley website.