Compare Mortgage Rates from Cheltenham & Gloucester Against the Market starting at 3.47%

About Cheltenham & Gloucester's Legacy

Founded in 1850 in Cheltenham, the Cheltenham & Gloucester Building Society was a giant of the UK mortgage market. It was famous for its "passbook" savings accounts and its strong presence on the high street.

In 1995, it became the first building society to voluntarily "demutualise" (give up its member-owned status) to be taken over by a bank—Lloyds Bank (then Lloyds TSB). This generated huge windfall payments for its members at the time.

For many years after the takeover, C&G operated as a distinct brand within the Lloyds Group, specialising in mortgages and savings. However, following the 2008 financial crisis and the restructuring of Lloyds Banking Group:

• 2013: C&G's branch network was transferred to TSB Bank (as part of the split between Lloyds and TSB)

• 2013-2017: The C&G mortgage book remained with Lloyds Bank. The C&G brand was gradually retired, and administration was fully absorbed into Lloyds Bank's systems

What Happened to Cheltenham & Gloucester Mortgages?

If you have a C&G mortgage, you are part of a "closed book."

• Who manages my mortgage? Your mortgage is owned and administered by Lloyds Bank

• Can I switch rates? Yes. Lloyds Bank generally honors the ability for existing C&G customers to switch to a new rate (product transfer) when their current deal ends, preventing them from falling onto expensive variable rates. You typically access these deals through Lloyds Bank

• Branch Access: You can no longer go into a "Cheltenham & Gloucester" branch (as they don't exist). You can manage your account through Lloyds Bank branches or telephone banking.

What were they known for?

• C&G was known for offering highly competitive rates and was often the "go-to" lender for intermediaries and brokers in the 1990s and 2000s.

• It was one of the first lenders to aggressively undercut rivals to gain market share, driving down costs for borrowers across the UK

Which lenders can offer similar products?

C&G’s legacy of aggressively undercutting rivals is mirrored by several major UK lenders today. Some examples are:

• Nationwide

• Santander

• HSBC

• Halifax

Lenders with a strong, dedicated focus on the intermediaries, such as Accord Mortgages or Precise Mortgages, often compete fiercely on price and service to secure business from brokers. Speaking to a whole of market broker, like ourselves, can ensure you consider both types of lender.

How to Apply for a Mortgage

You cannot apply for a new mortgage with Cheltenham & Gloucester.

• New Customers: You must apply to an active lender. The direct equivalent (same parent company) is Lloyds Bank or Halifax

• Existing Customers: If you have a C&G mortgage and want to borrow more, move house, or switch your rate, you should contact Lloyds Bank directly. They have dedicated teams that deal with "legacy" C&G accounts

Whether you’re an existing legacy C&G customer or simply looking for the most competitive mortgage deal today, we can help you find the most suitable deal for your needs. Simply get started here to speak with one of our experts.

Contact Information For Existing Mortgage Customers

Since the brand is retired, you should use the contact details for Lloyds Bank:

• Mortgage Customer Services: 0345 300 0000 (or check your latest statement for a dedicated number)

• Website: www.lloydsbank.com/mortgages/existing-customers