Halifax brand to disappear after 173 years — will it affect mortgage customers?

Lloyds Banking Group has confirmed that the Halifax brand will change to Lloyds, with Lloyds becoming the group’s lead brand in England, Wales and Northern Ireland. Bank of Scotland will remain the lead brand for customers in Scotland.

For Halifax mortgage customers, the key message is that there are no immediate changes. Lloyds Banking Group says existing Halifax customers do not need to do anything; account numbers and sort codes will stay the same, and customers will continue to receive the same service.

The Halifax brand has been around since 1853, and the bank has a great reputation, especially in the mortgage world. So many of the well-known banks and building societies have either been bought by the big lenders or gone out of business in recent years.

Mortgage Strategy magazine says the Halifax Permanent Benefit Building Society, as it was originally known, was established in Halifax in December 1852. During the Industrial Revolution, people moved to small towns to work in manufacturing, but the sudden influx led to housing shortages. Building societies, such as the Halifax, were established to help workers save up and earn interest, or to borrow money to buy homes.

What is happening to Halifax?

Halifax customers will gradually start using the Lloyds app and online banking, and Halifax accounts will be rebranded to Lloyds over time. Halifax branches will also be rebranded to Lloyds, although Lloyds says there are no changes to previously announced branch plans.

Halifax will stop opening new accounts as part of the change, but the group says customers’ money remains safe and customers should be alert to scams. It says customers will not be asked to move money, transfer funds or share security details because of the rebrand.

Will Halifax mortgages still be available?

Yes. Lloyds Banking Group says Halifax mortgages will continue to be available through intermediaries until 2027. Halifax Intermediaries will then rebrand as Lloyds Intermediaries.

This means mortgage brokers such as Trinity Financial should still be able to access Halifax mortgage products for the time being, and customers should not see an immediate change to how Halifax mortgage applications are submitted.

Will the rebrand affect existing Halifax mortgage customers?

Existing Halifax mortgage customers should not need to take any immediate action. If you already have a Halifax mortgage, the rebrand should not change your mortgage rate, monthly payment, product end date or mortgage terms.

Customers coming to the end of a fixed rate or tracker deal should still review their options in the normal way. Depending on their circumstances, they may be able to switch to a new deal with Halifax/Lloyds or remortgage to another lender.

Could the change make a difference to mortgage pricing?

In the short term, the rebrand is unlikely to make a major difference to mortgage rates. Halifax is already part of Lloyds Banking Group, so this is not a takeover by a new lender. It is a branding and customer-platform change rather than an immediate change in mortgage lending appetite.

However, over time, the move could lead to a more streamlined mortgage operation under the Lloyds brand. This may affect how products are presented, how customers manage accounts and how brokers interact with the lender once Halifax Intermediaries becomes Lloyds Intermediaries in 2027.

Why Halifax matters in the mortgage market

Halifax has long been one of the UK’s best-known mortgage brands and is part of Lloyds Banking Group, one of the largest mortgage lenders in the country. The Halifax name is particularly well known among first-time buyers, home movers and remortgage customers.

For many borrowers, the brand name is less important than the rate, affordability calculation, valuation, speed of service and whether the lender’s criteria fit their circumstances.

The Halifax brand has today announced that it will change to Lloyds. This will include Halifax Intermediaries evolving to become Lloyds Intermediaries in 2027.

Aaron Strutt, Product and Communications Director at Trinity Financial, says:

“Halifax is one of the biggest names in UK mortgages, so the decision to rebrand it as Lloyds will attract plenty of attention. For mortgage customers, the important point is that there should be no immediate impact on their existing mortgage.

“Borrowers should not need to panic or take action just because the brand is changing. Existing mortgage rates, terms and product end dates should continue as normal. Halifax mortgages will also remain available through intermediaries until 2027, when Halifax Intermediaries is expected to become Lloyds Intermediaries.

“The bigger question is whether the Lloyds brand becomes more competitive or streamlined over time. Mortgage customers should focus on the fundamentals: which lender offers the best rate, how much they can borrow, whether the product has the right flexibility and how quickly the lender can issue an offer.”

What should Halifax mortgage customers do now?

If your Halifax mortgage deal is not ending soon, you probably do not need to do anything.

If your fixed rate or tracker deal is due to expire within the next six months, it is worth speaking to a broker. Trinity Financial can compare Halifax/Lloyds product-transfer options with remortgage deals from other banks and building societies.

This is particularly important if your income, property value, loan size or personal circumstances have changed since you last took out a mortgage.

Lloyds Banking Group says it is committed to its role in the town of Halifax

Lloyds Banking Group is committed to its role in the town of Halifax, and the wider Yorkshire and Humber region. Lloyds recently made a £116 million investment its Trinity Road office in Halifax town centre, and the 3,000 colleagues based there will continue to play a key role in the Group’s future.

Speak to Trinity Financial

Trinity Financial’s brokers regularly arrange mortgages with Halifax, Lloyds and other leading banks and building societies. We can help first-time buyers, home movers, remortgage customers and existing Halifax borrowers understand their options as the rebrand takes place.

Call Trinity Financial on 020 7016 0790, book a consultation, or use our appointment calendar.

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

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