The trusted Halifax House Price Index is set for a major overhaul, with the parent company Lloyds Banking Group announcing plans to retire the brand by 2027. Founded in West Yorkshire in 1853, the index has been a stalwart of UK property market analysis for over 170 years.
The decision to rebrand follows a wider review of the banking group's branding, which includes the retirement of Halifax Bank and Halifax Intermediaries. Lloyds Banking Group's chief executive of consumer relationships Jas Singh has sought to reassure customers that little will change as a result of the revamp.
'Our 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,' Singh assured. He added that the rebranding effort is designed to improve customer experience and simplify the banking group's identity.
However, industry experts have expressed disappointment at the decision to retire the Halifax brand. Aaron Strutt, Trinity Financial's product and communications manager, described it as a 'real shame' that the Halifax name would be lost. He noted that the bank has a rich history dating back to its foundation as a building society in 1853.