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More complaints on Halifax loans

The financial ombudsman is receiving new complaints from Halifax mortgage customers unhappy with the bank&#39s handling of the dual-pricing situation.

The ombudsman says it is investigating further complaints from borrowers after its ruling in March against Halifax found in favour of a customer who was kept on an interest rate of 5.75 per cent when a discount rate of 5 per cent had been introduced for new borrowers.

Halifax tried to draw a line under the decision by offering £7m in compensation to 30,000 borrowers who had complained about being barred from the lower rate. It said it would pay £500 to each of the 10,000 people who complained before January 31 and would pay £100 as a goodwill gesture to the 20,000 borrowers who had complained after that date. Customers who did not complain got nothing.

Halifax says it is sticking by its original decision on compensation and if there have been new complaints to the ombudsman they are in response to the “deadlock letters” it is sending to people explaining its action and how it has calculated payments.

Spokesman Mark Heming-way says: “We are applying the ombudsman ruling as we said we would and nothing has changed. If people are not happy with what we are doing they can complain.”

Ombudsman spokesman David Cresswell says: “As a result of the initial complaint against Halifax and its response, we are receiving new complaints which we are looking at.”


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