The Halifax House Price Index is set to rebrand as part of an overhaul by its parent company Lloyds Banking Group.
It was announced yesterday that the Halifax name is set to disappear as a brand after 173 years as it changes to Lloyds.
As part of this, a spokesperson confirmed that the Halifax House Price Index will be rebranded.
It will instead be called the Lloyds House Price Index.
REBRAND
Other brands charging to Lloyds include Halifax Bank and Halifax Intermediaries.
No timeline has been given yet but a statement said Halifax will be evolving to become part of Lloyds’ branding in 2027.
Lloyds Banking Group has owned The Halifax, which was founded in West Yorkshire in 1853, since 2009.
Professor Joe Nellis, who helped create the Halifax House Price Index, says: “When created in 1984, it was the UK’s first hedonic house price index using regression analysis. It has since become the nation’s most well known and highly regarded house price index – let’s hope this continues under its new guise.”
EVERTHING CUSTOMERS KNOW AND LOVE
Jas Singh, Lloyds Banking Group’s chief executive of consumer relationships, says: “As Halifax changes to Lloyds, our Halifax customers will keep everything they know and love today – the same fantastic app design, the same friendly faces in our branches – even the same sort code and account number.
“But as Lloyds customers, they’ll get the best innovation and experiences we offer.”
Nouran Moustafa, practice principal at Roxton Wealth, says Lloyds needs to be careful not to lose loyal Halifax customers.
She adds: “The Halifax is not just a logo. For generations it has been one of the few financial brands people genuinely associate with getting a first home, saving carefully and speaking to someone without feeling judged. That is hard to replace with a corporate tidy-up.
“From a broker perspective, the concern is not the name on the portal.
“It is whether the rebrand changes the culture: the criteria, service, underwriting appetite and familiarity that made”`
SMOOTH TRANSITION
He adds: “The Halifax a go-to lender for so many real-life cases. Lloyds may see one brand as simpler. “Customers and brokers may see the loss of a name that felt more human and more rooted in home ownership.
“Brand loyalty in financial services is earned over decades and can be destroyed in a strategy meeting.
“If nothing operational changes, it may be a smooth transition. But The Halifax’s value was never just its products. It was the trust people attached to the name. That is not something you can simply transfer onto a new sign.”
