How did Halifax overcharge customers?
Halifax says it has identified that some customers’ mortgage payments were not applied correctly since 2010, meaning they paid marginally too much interest.
The error impacted 10,000s of customers who chose to make small payments other than their regular monthly mortgage payment – so customers who overpaid their monthly bill, made one-off manual payments or opted to pay weekly.
One MoneySaver, Clare Carney from Blackburn, contacted us after she and her husband, who are ex-Halifax customers, were offered £10 each. Clare was initially sceptical about the letter, asking: “Is this a scam?”
But Halifax confirmed it wasn’t, and that between 2015 and 2017 Clare’s mortgage account had two payments applied incorrectly.