Halifax’s standalone telenet bank, Intelligent Finance (IF), finally went live at the end of November with the launch of its website, www.if.com.
The bank has now built up over 50,000 accounts since the end of September following the initial launch of its telephone banking service, and customers now have the choice of conducting their banking by email, on the internet or by telephone.
There are five products available from the Halifax, including a variable rate mortgage, which is discounted by 1.5% for the first six months giving an initial payable rate of 5.3%.
Figures released by IF indicate that they have received over £0.5 billion in approved mortgage applications since September.
Jim Spowart, chief executive of IF, said: “We have got off to a really good start. Customers are switching banks to get the value from our unique offering. As we complete our launch I know we will go from strength to strength.”