Halifax is all ready to pay mortgage borrowers a total sum of five hundred million pounds in compensation after the company failed to inform six hundred thousand customers that it was increasing the limit on its standard variable rate (SVR), which is the rate for borrowers who are not on a special offer. It expects to make payments to around three hundred thousand of these people.
A new credit card has been introduced by Halifax, which has a feature of low rates on purchases and cash. It is expected to fascinate a number of consumers.
The Halifax Clarity credit card has a flat rate of 12.9 per cent APR and does not add a fee for carrying out cash withdrawals, foreign transactions or balance transfers.