| Company type | Building society |
|---|---|
| Industry | Financial services |
| Founded | 1868 |
| Founder | Jabez Balfour |
| Defunct | 1892 |
| Fate | Failed due to speculation and fraud |
| Headquarters | , |
Key people | Jabez Balfour |
| Products | Loans, mortgages and savings accounts |
The Liberator Building Society was a British building society that was formed in 1868 by Jabez Balfour and failed in 1892 due to fraud perpetrated by its founder.
Balfour used his widespread non-conformist and temperance connections to raise funds, it became the largest building society in the country by the 1890s. However, by the end, most of the mortgages were to finance speculative developments by other Balfour-controlled companies at prices which were fraudulent.
In 1892, Balfour’s bank collapsed, followed by some of his development companies. The Liberator Building Society was unable to meet the demand from withdrawals and in October 1892 a liquidator was appointed. More than £8m. was lost to the Liberator and its associates.