On 29 September 2008, all of Bradford & Bingley's retail deposit accounts (along with its branch network) were transferred to Abbey.
The rest of the business, including the mortgage operation and headquarters, was taken into public ownership by the Government. As a result of the transfer, B&B ceased all new lending activities and the business became a mortgage servicing company.
All shares in Bradford & Bingley were transferred to the Treasury at 8am on 29 September 2008.