Cheltenham and Gloucester Mortgages

Cheltenham & Gloucester Mortgages

Cheltenham & Gloucester is a subsidiary company of Lloyds Banking Group. The company started as a bank in 1850 and was known as Cheltenham & Gloucestershire Permanent Mutual Benefit Building and Investment Association.

In the following eighty years, the organization had opened more than one hundred other branches in the United Kingdom making it one of the fastest developing organizations. The company acquired a number of building societies in the 1980s and became known as Cheltenham & Gloucester Building Society.

Lloyds Banking Group acquired the company in 1997 which later became known as Cheltenham & Gloucester plc.

Cheltenham & Gloucester mortgage underwriting

For many years Cheltenham & Gloucester (or C&G) was a major player in the UK mortgage market via mortgage brokers. Known for their flexible underwriting and competitive mortgage rates they ‘punched above their weight’ in the market.

Once they became a HBOS (Halifax Bank of Scotland group) brand following the Lloyds TSB takeover of Halifax, C&G found themselves in direct competition with Halifax. In 2011 they were squeezed out of the market and no longer offer mortgage products other than supporting existing clients.

If you require assistance in arranging a mortgage – contact us now.