Halifax mortgage customers can expect unexpected pay-outs
If you’re a Halifax mortgage customer, you could be in for a small windfall in the near future - that’s because the bank are making a ‘goodwill’ payment to 300,000 of you. It’s because Halifax is “committed to running its business with the highest levels of integrity and treating its customers fairly” - oh, and because it agreed a deal with the Financial Services Authority.
The announcement of the payments comes after it was discovered that Halifax had been, let’s say ‘vague’ over its right to charge customers more for standard variable rate mortgages and will total about £500 million altogether.
The Halifax raised the ceiling on its standard variable rate from bank rate plus 2% to bank rate plus 3% in January 2009, citing "extenuating economic conditions" but adding on extra charges to customers who hadn’t been pre-warned that this could be the case when they first took out their mortgages.
Affected customers will receive appropriate credits into their mortgage accounts in April. Meanwhile, a Halifax spokesperson is quoted as having said: “"We have had very few complaints - in the tens, fewer then 50.” So that’s alright then. They almost got away with it.