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All of Bradford & Bingley's direct channels including its retail branches and its savings accounts have been transferred to Abbey.

The rest of the business, including the mortgage operation and headquarters, has been taken into public ownership by the government.

It’s business as usual for all B&B customers. Whatever channel you use - branch, telephone, internet or cash machines (ATMs) - they will all be open and operating as normal. You should continue to make payments or deposits as usual. 

There are no plans to change the Bradford & Bingley name.

General questions

What has happened to Bradford & Bingley? Is my money safe?

Yes, absolutely. B&B's branches and its savings customers are now part of Abbey and Santander.

If you are a B&B mortgage customer, it's 'business as usual' and you should continue to make your repayments as normal. The only change is that you will now be abel to deal direct with our mortgage teams to discuss your existing mortgage by calling 0870 607 2072 instead.

Why has Bradford & Bingley got into such financial difficulties?

Bradford & Bingley has been experiencing problems in the face of the global financial crisis, meaning it has faced increasing difficulties raising enough money to carry on its business. This is why a deal has been struck to protect your money.

Questions about mortgages (updated 13 October)

Will my mortgage rate be hiked up now the business no longer needs to be competitive?

Your mortgage will continue on its current terms and conditions.

What has happened to my mortgage with Bradford & Bingley?

It's business as usual for all B&B existing mortgage customers. Your mortgage remains in place on the terms agreed with Bradford & Bingley. You continue to owe the same amounts to Bradford & Bingley under your mortgage as you did before, so you should continue to pay Bradford & Bingley in the usual way.

Amounts due on the mortgage under direct debit or standing orders will be paid from your usual account to Bradford & Bingley.

The only change you will see is that you will no longer be able to discuss your existing mortgage with a mortgage adviser in a B&B branch. Now you can deal direct with our mortagage admin teams by calling us on 0870 607 2072.

I have accepted a mortgage offer from Bradford & Bingley and I'm due to complete on my house purchase shortly. What should I do?

Bradford & Bingley will honour all mortgage offers it has issued. If you have recently accepted a mortgage offer, you do not need to worry. You will be able to complete your house purchase and will owe Bradford & Bingley the relevant amount under your mortgage. You should put in place appropriate arrangements to make mortgage repayments to Bradford & Bingley, together with any other financial arrangements which may be relevant.

I have an outstanding mortgage offer from Bradford & Bingley. Is it still valid?

Yes. If you have already received a mortgage offer from Bradford & Bingley, it remains valid for six months from the date it was first offered.

I have completed an application for a mortgage from Bradford & Bingley but have not yet received a response. What should I do?

Bradford & Bingley is no longer offering new mortgages. If you have not received a response from Bradford & Bingley, then it is likely that no mortgage offer has been made.

If you have received a mortgage offer from Bradford & Bingley, then that offer will remain valid for six months.If your mortgage has not completed within that six months, then the offer expires and Bradford & Bingley will not be able to make you a further offer.

Questions about savings

Can I get my money?

Yes. It's business as usual for our customers. You can access or deposit money in any of the usual ways – through Bradford & Bingley branches, the website, ATMs and our agents.

Are my savings guaranteed?

B&B deposits are covered by Abbey's banking licence and are therefore still covered by the Financial Services Compensation Scheme (FSCS).This scheme provides compensation, up to £50,000, if a firm is unable to pay claims. The FSCS is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA). The service is free to consumers.

I already have savings with Abbey, which means my total will be more than £50,000. What does this mean for my FSCS protection?

If you are an Abbey (or cahoot) customer, you will only be covered for the first £50,000.

Will I see any immediate changes to my accounts, rates, interest rates or fees?

Your existing Bradford & Bingley terms and conditions remain in place. There are no current plans to make changes to account terms and conditions.

Will my cards, account numbers, contact numbers continue to work as normal?

Yes, all of these will continue to work in exactly the same way.

Can I use my passbook?

Yes, you can continue to use your passbook book in exactly the same way as usual.

Will branches be open?

Yes. Bradford & Bingley branches and agent offices will be open as usual

Can I open a new account?

Yes. You will be able to open a new Bradford & Bingley savings account. All existing accounts continue to be operated as normal.

What will happen to direct debits and standing orders?

These continue to operate in exactly the same way as usual.

What will happen to the regular savings I pay into my savings account?

These will continue to operate as normal. The payment will be made into your Bradford & Bingley account and will be available to you in the usual way.

Can I close my account and move it?

The recent announcement should put your mind at ease that your cash is secure. However, as with any account and, subject to its terms and conditions, you can close or move it at any time, should you wish to do so.

I have a notice account with Bradford & Bingley but I would like to withdraw money today. Can I?

As the account will be operating as normal, you must give the required amount of notice before withdrawing your savings if you don’t want to lose interest.

I have a postal account but I would like to go to a Bradford & Bingley branch and take out my money today. Can I do this?

Steps have been taken to protect your money. However, if the terms and conditions of your postal account allow you to withdraw your savings from a Bradford & Bingley branch, you may do so.

Are there any tax consequences from this? Will I still be sent a tax certificate from my savings account?

There are no changes to the tax implications of your account and you will be sent a certificate in the usual way.

Questions about insurance

I have my insurance through Bradford & Bingley. What does this mean for me?

Your insurance cover, premiums and terms and conditions will not change.

Questions about shares

I own shares in Bradford & Bingley. What has happened to them?

Shares have been suspended on the London Stock Exchange and can no longer be bought and sold. As required under the terms of Banking (Special Provisions Act), the Government will lay a compensation order detailing the arrangements for compensating shareholders and any others whose rights may have been affected by the transfer.

Wholesale customers

I am a wholesale customer - what does this mean for me?

As a first step, please speak to your normal contact.