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Old 10th Feb 2014, 13:43   #1
5UB
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Question Bradford and Bingley - Shares

When I was young I had shares in Bradford and Bingley.

I never set this up, it was set up by my Grandad.

I used to receive money from the shares monthly (many years ago), but since Bradford and Bingley went into trouble, it stopped.

I came across documents recently, and I have 250 holding, and I called up and they said that I had 15 which I haven't cashed in, so they are sending me a cheque.

The 250 holding cannot be taken out, as apparently the whole thing is frozen (I guess due to the company having financial issues?)

All of the whole 'shares' thing is all new to me, and I have no idea what to do with the account. - I guess I should just forgot about it? They said I would be informed when the account is unfrozen, but is this likely ever going to happen?

Is there a step I need to take, or is it just one of those things where I just leave it to one side?

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Old 10th Feb 2014, 13:48   #2
Theophany
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Aren't B&B what is now Santander UK anyway?
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Old 10th Feb 2014, 13:52   #3
5UB
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Quote:
Originally Posted by Theophany View Post
Aren't B&B what is now Santander UK anyway?
I think so yes, did Santander buy them? Or are they under the same group?

I really have no idea! - Just wondering what to do with the frozen shares, there is nothing I can do about it I guess, just forget about them and move on. I haven't lost anything as it was done for me.

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Old 10th Feb 2014, 13:57   #4
Theophany
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I think so yes, did Santander buy them? Or are they under the same group?

I really have no idea! - Just wondering what to do with the frozen shares, there is nothing I can do about it I guess, just forget about them and move on. I haven't lost anything as it was done for me.
If memory serves, Santander bought them along with what was Abbey National and later re-branded them all. All you can do really is forget about it and maybe sometime later you'll be able to liquidate them.
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Old 10th Feb 2014, 13:59   #5
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Quote:
Originally Posted by Theophany View Post
Aren't B&B what is now Santander UK anyway?
No.

Santander bought out the savings accounts of B&B.

The "bad bank" part of B&B is now owned by the government (UK Asset Resolution)

It is a bit like the split of Northern Rock, where Virgin took over the good part and UKAR took the bad.

I would think it is very unlikely you will be able to get your 250 in the near future, if ever.
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Old 10th Feb 2014, 14:00   #6
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In that case, wouldn't hold out on those shares then.
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Old 10th Feb 2014, 14:08   #7
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So I will just ignore them then! Thanks guys.

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Old 10th Feb 2014, 14:14   #8
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As far as I know the shares went belly up, and are worthless. Lots of people too the gamble like on RBS, but it did not pay off and they lost their money.

At first i was Then i was
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