It all began in 1851 when the Bradford Second Equitable Benefit Building Society
and the Bingley, Morton and Shipley Permanent Benefit Building Society were formed. In 1964 the mergers of the Bradford Equitable
and Bingley Permanent resulted in the Bradford and Bingley Building Society. In December 2000 the company gave up its mutual status and floated on the UK stock market with the members receiving
between £500 and £5,000 each. On the 29th September
2008 the companies shares were suspended on the stock market and Satander bought the bradford and bingley's branches,
all UK and Isle of Man retail deposits. The outstanding loans, mortgages, head office, wholesale liabilities and treasury
assets were taken over by the UK Government.
The FSCS paid out approximately £14 billion to enable retail deposits
held in Bradford and Bingley that were covered by the fscs to be transferred to Abbey (part of Santander) .
The treasury also made a payment of approximately £4 billion to Abbey for the savings that were not covered by the fscs.
On 21st April 2010, the Car and Home Insurance businesses of Bradford & Bingley were acquired by BISL Limited. BISL
Limited continues to offer Car and Home Insurance under the Bradford & Bingley brand under licence, but Bradford &
Bingley itself will no longer offer a car or Home Insurance service to customers.
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