What happened to my shares in Bradford and Bingley?
Investors’ shares were wiped out when the lending arm of B&B passed into public ownership in September 2008 and the savings arm was sold off to Spanish banking giant Santander. The bank was driven under by the credit crunch as homeowners struggled to repay loans.
Is Bradford and Bingley part of Santander?
All Bradford & Bingley savings accounts were transferred to Abbey (now Santander) in September 2008.
Is Bradford and Bingley still trading?
Bradford & Bingley and Mortgage Express remain as closed mortgage books and we are unable to offer any new mortgage deals. This does not affect your ability to remortgage with another lender.
Who owns Bradford and Bingley now?
Government of the United KingdomUK Asset ResolutionUK Financial InvestmentsHer Majesty’s Government
Bradford & Bingley/Parent organizations
Are Northern Rock shares worth anything?
Andrew Caldwell announced his unsurprising decision to value the former shareholding in Northern Rock as worthless.
When did Bradford and Bingley stop trading?
[20] After 149 years as a mutual, Bradford & Bingley’s life as a plc lasted a little over eight years, ending on 29 September 2008 when the Chancellor announced that, under the Banking Supervisions (Special Provisions) Act 2008, Bradford and Bingley’s retail deposit business and branch networks would be transferred to …
Who took Northern Rock mortgages?
The remainder, Northern Rock plc, was designated the “good bank”, and in 2012 was bought by Virgin Money. Since nationalisation, the assets of NRAM have been sold off in parts, culminating in November 2015 with the sale of £13 billion of mortgages and loans to Cerberus Capital Management.
Who bought out Northern Rock?
Government completes final £5 billion sale of Bradford & Bingley plc and NRAM Limited. A £5 billion sale of Bradford & Bingley plc and NRAM Limited (formerly Northern Rock) and their remaining loans, acquired by the taxpayer as a result of the financial crisis, has been announced today, 26 February.
Is Northern Rock still trading?
Yes. Northern Rock is writing to customers about the sale but stresses that it will be “business as usual” for all customers for the foreseeable future.
Did people get their money back from Northern Rock?
It now emerges that the UK government, which provided emergency funding of £37 billion for Northern Rock and then nationalised the stricken bank, has effectively got all its money back and will actually make a profit. No Northern Rock depositor lost money – the government’s last-minute rescue saw to that.
Who owned Northern Rock?
Virgin Money
Purchase by Virgin Money On 17 November 2011 it was announced that Virgin Money were going to buy Northern Rock plc for £747 million.
Who bought Mortgage Express?
Following regulatory approval Davidson Kempner will become the direct owner of B&B and NRAM and indirectly take ownership of Mortgage Express.
Is Santander the biggest bank in the world?
Additionally, Santander maintains a presence in all global financial centres as the 16th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia.
Are Northern Rock shares worthless?
Are Northern Rock still trading?