Bradford & Bingley
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Bradford & Bingley is a British bank headquartered in the Yorkshire town of Bingley. It was formed by the floatation of the former Bradford & Bingley Building Society on 4 December 2000. Previously, as a building society, the Bradford & Bingley was owned by its customers. By floating on the London Stock Exchange, members of the society received free shares worth up to £5,000.
Bradford & Bingley Building Society was formed in 1964 as a result of the merger of the Bradford Equitable Building Society and the Bingley Permanent Building Society, both of which were established in 1851.
Today Bradford & Bingley is one of the United Kingdom's largest mortgage lenders. Bradford & Bingley are innovative in their selling, as they also sell other providers mortgages as well as their own.
It is the largest provider of independent financial advice and the fourth largest estate agency in the United Kingdom. The group runs two distinct businesses: retail and lending.
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Retail
Bradford & Bingley distributes brand-name and third party financial products. They have over 500 retail outlets with over 1,000 financial advisors offering face to face advice and online services.
Lending
B&B has its own lending products including mortgage and commercial real estate products. They have an offshore subsidiary based in the Isle of Man.
Mortgage Express
Bradford & Bingley purchased Mortgage Express from the then Lloyds Bank in 1997. Over the course of time, Bradford & Bingley have developed Mortgage Express into a 'niche' lender dealing with risk lending such as Buy to Let and Self Certification. Mortgage Express is now a market leader in niche lending, continue to set a path that competitors follow.