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Halifax apologises after wrongly telling customers base rate had changed

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Halifax apologises after wrongly telling customers base rate had changed

Mortgage giant Halifax has apologised after sending emails in error to customers, wrongly telling them that the Bank of England base rate had changed.

The emails, which said “the Bank of England base rate has changed today”, were sent out ahead of the Bank’s next interest rate decision on Thursday this week.

Customers of Halifax and Lloyds Bank, which is in the same banking group, were affected by the blunder.

The emails state “we want to help you understand what this could mean for you”, and go on to explain the differences between fixed and variable rate mortgages.

They also highlight the support available if customers are struggling with their repayments.

The base rate is currently set at 0.75% after a string of recent hikes, and there has been speculation that it may be poised to edge up further amid high inflation.

A Lloyds Banking Group spokesperson said: “We are sorry for any confusion caused by an email issued in error this morning.

“The email had been prepared in advance of Thursday’s MPC (Bank of England Monetary Policy Committee) decision so that in the event of a rise we could quickly advise customers and help them understand how that might affect their mortgage.

“We are emailing customers today to apologise and confirm that there are no changes to their mortgage or rates.”

Published: 03/05/2022 by Radio NewsHub

Written by: NDR NEWS

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