Cheltenham & Gloucester Plc designs, markets, sells, and administers mortgages. It offers mortgages to buy homes, first-time buyers, remortgaging, borrowings, change deals, and buy-to-let. Cheltenham & Gloucester Plc was formerly known as The Cheltenham & Gloucester Permanent Mutual Benefit Building Society and Investment Association. The company was founded in 1850 and is based in Gloucester, the United Kingdom. Cheltenham & Gloucester Plc operates as a subsidiary of Lloyds TSB Bank plc.