Halifax blunder causes industry confusion

A spokeswoman for Halifax said: “There was an error this morning which resulted in three products showing incorrectly on the Halifax Intermediaries website.

“These were products that are not live, nor available to customers, and were showing due to a systems error, which has now been corrected.”

She said the error occurred because these “dummy products” sit behind the system to stop incomplete applications “falling off the system” when the product applied for expires.

The dummy catches the incomplete application and allows the broker to reapply for another live product – without the details of the dummy product ever being seen by the broker.

The Halifax confirmed that the maximum LTV across the range for new applications is 90%.