Soluble chloromethylated polystyrene and its copolymers with vinylidene chloride as well as poly(phenyl oxides) brominated in the side chains and in the ring were synthesized and characterized in detail by NMR. The halogenated polymers were phosphonylated with alkyl phosphites. Uncrosslinked polymers with pendent phosphonate groups were prepared in the presence of etheral solvents, which solvate the ionic intermediates of the Arbuzov reaction. These polyphosphonates are highly hygroscopic and are soluble in a variety of solvents. Their Tg's are in the range of 50–175°C. Their thermal behavior was analyzed on the basis of thermogravimetric measurements combined with mass-spectrometric analysis. Poly(styrene phosphonate) seems to be the most stable, and its thermal decomposition starts at ∼330°C. The polymeric phosphonates are compatible with an unusually large number of polymeric systems and seem to form “true” polymeric alloys with acetylcellulose.