Halifax forced to compensate 250,000 mortgage borrowers

In February, the bank said it would write to 600,000 borrowers to explain that they might be eligible for compensation if they had not been told of a change in the way their mortgage rate was calculated, according to the Telegraph. Halifax said it has now identified a further 250,000 customers who may have been affected. About half of the original group received compensation of either a flat amount or 1% of their mortgage balance for each year they were affected. A Halifax spokesman said a similar proportion of the new group was likely to receive a payment. On a typical mortgage...