Halifax apologises after WRONGLY telling customers the Bank of England had hiked interest rates

HALIFAX bank sparked chaos this morning when it sent incorrect emails to customers telling them the Bank of England had raised interest rates.

Halifax has apologised for sending the emails about interest rates in error.

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The Bank of England is due to meet later this week to decide whether to raise interest rates again.

It has increased the base rate of interest at it past three meetings to its current level of 0.75% - but we do not yet know what will happen this week.

But Halifax customers thought the bank had a head's up when they received an email reading: "The Bank of England base rate has changed today."

It went on to say: "We want to help you understand what this could mean for you."

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Users took to social media in confusion at the message. One customer said on Twitter: "Ummm does Halifax know something I don't?"

Another asked: "Any idea why I've received an email this morning saying the Bank of England's base rate has changed today? Received at 4am."

The bank responded saying: "We're aware some customers received an email from us today that says the base rate has changed.

"We're sorry for this, we sent this email in error. The base rate has not changed today. Apologies again."

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Customers of Halifax and Lloyds Bank, which is in the same banking group, were affected by the blunder.

The emails also highlighted the support available if customers are struggling with their repayments.

The base rate is currently set at 0.75% after a string of recent hikes, and there has been speculation that it may be poised to edge up further amid high inflation.

Rising interest rates are a concern for homeowners who are already battling a cost of living crisis.

It's a particular worry for households with a variable or tracker mortgage, whose interest rate is tied to the Bank of England's base rate of interest.

These borrowers will usually see their monthly repayments rise whenever base rate goes up.

It could also make borrowing through loans and credit cards more expensive, as well as pushing up savings rates.

A Lloyds Banking Group spokesperson said: "We are sorry for any confusion caused by an email issued in error this morning.

"The email had been prepared in advance of Thursday's MPC (Bank of England Monetary Policy Committee) decision so that in the event of a rise we could quickly advise customers and help them understand how that might affect their mortgage.

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"We are emailing customers today to apologise and confirm that there are no changes to their mortgage or rates."

It's not the only technical glitch the bank has faced in recent days. Halifax and Lloyds customers were left struggling to transfer cash due to a payment issue last week.