UK Mortgage Lender: Woolwich Building Society

Details on Woolwich mortgage lender:

The Woolwich was the trading name of the Woolwich Building Society, founded in 1847 It is now a trading name of Barclays Bank PLC. As one of the first UK 'permanent' building societies.

.The Woolwich Building Society demutualised in 1997, giving up its mutual status to become a PLC. Woolwich PLC was formed, giving shares to investing and borrowing members of the society, and listing on the London Stock Exchange. with 27 million customers and clients in more than 50 countries.

The Woolwich was one of the largest UK building societies, and was famous in the 1980s for its entertaining TV advertising incorporating the slogan “I’m with the Woolwich”. The Woolwich also sponsored local football team Charlton Athletic

In 2000, Barclays bank bought Woolwich PLC which thus joined the Barclays Bank Group of companies. The Woolwich brand-name was retained after the acquisition, and the Woolwich Head Office remained in Bexleyheath, south-east London, five miles from the original office in Woolwich.

On June 28, 2006, Barclays announced that The Woolwich was to become the Barclays UK mortgage brand, supported by Barclays branches, and that Woolwich branches would be either closed or re-branded as Barclays. Associated changes to call centres may affect up to 1,200 jobs. The Woolwich contact centre in Clacton-on-Sea will be the main loss of jobs, closing at the end of 2007. Woolwich accounts were migrated to Barclays during the first half of 2007. With a profit of £4.1bn in the first half of 2007 thanks to their portfolio of businesses, which is unique in the industry.