Although recent adverts from BM Solutions have been carrying the small print “17 September, the ‘appointed day’ for the transfer of Halifax’s business to the Bank of Scotland plc”, there is no cause for alarm for brokers as this will mean no change to products or the brands, according to a Group spokesman.

From the consolidation date, the Bank of Scotland will register as a public limited company, and succeed to all assets and liabilities of the three transferor entities Halifax plc, HBOS Treasury Services plc and Capital Bank plc.