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Halifax IF bank launches internet service

Halifax’s online bank Intelligent Finance bank has launched its long awaited internet service.

It has built up 50,000 accounts since opening at the end of September and has approved £500m of mortgages.

It also says it is adding 6000 current accounts, credit card and personal loan accounts every week.

Half the business has come from intermediaries and 90 percent of customers are from outside the group.

IF chief executive Jim Spowart says "We are delivering what the customer wants, exceptional telenet banking value. We’ve got off to a really good start and the launch of our internet service shows we will continue to go from strength to strength."

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