Halifax Mortgage Offer Branded 'Irresponsible'
An offer of a 6 month payment holiday is branded as irresponsible
31st January 2005
Mortgage lender Halifax has sent out 100,000 letters offering a 6 month payment holiday to its customers, saying it would be a good way of clearing christmas debts.
After the holiday period, the missed payments plus interest would be added to the mortgage.
The letters have been criticised for not saying how much the offer would cost each customer - but Halifax defends itself by saying it wouldn't be possible to give an individual quote until a customer showed an interest in the offer.
A Citizens Advice spokesman also criticised the Halifax for encouraging people to get further into long term debt, while an industry spokesman pointed out that the offer had been part of the terms and conditions already for these customers, and Halifax was merely reminding people of the option.
|
Products from Halifax : Pet Insurance, Annual Travel Insurance, Car Insurance, ISA Saver Direct, Loans, Money Back, One, Web Saver |
Home - Mortgages
