Halifax began as a building society in Halifax in West Yorkshire in 1853 to offer savings accounts and mortgages.
It expanded its services over the years, providing current accounts, credit cards, and personal loans.
In 2001, Halifax merged with the Bank of Scotland to form Halifax Bank of Scotland (HBOS). Subsequently, in 2009, HBOS was acquired by Lloyds Banking Group.
Today, Halifax operates as a division of Bank of Scotland, providing a range of financial products and services to customers across the UK.
Halifax offers a range of personal loans that can be used for a variety of needs. These include:
Finance the purchase of a new or used vehicle with Halifax's car loans. Enjoy fixed monthly repayments and flexible terms, making it easier to manage your budget while getting on the road. Halifax also offers other forms of car finance, including Personal Contract Purchase (PCP), Hire Purchase (HP) and leasing.
Simplify your finances by combining multiple debts into a single loan. Halifax debt consolidation loans offer fixed interest rates and set repayment periods, helping you streamline payments and potentially reduce overall interest costs.
Home improvement loans give you the chance to upgrade your property more quickly. Whether it's a new kitchen, bathroom, or extension, these loans provide the funds needed to enhance your home's value and comfort.
Plan your dream getaway with a holiday loan that covers travel expenses and accommodation, with manageable monthly repayments rather than having to find one lump sum upfront.
In addition to personal loans, Halifax provides other credit options, including mortgages and credit cards.
Halifax advertises loans of between £1,000 and £25,000, to be paid back over one to seven years.
However, if you already have a Halifax loan, you can apply online for additional borrowing of up to £50,000 and may be able to get an instant decision.
You’ll need to have a Halifax current account in your name only and hold no more than one existing Halifax loan.
To apply for a Halifax personal loan you’ll need to meet some basic criteria: you must be aged 18 or over, a UK resident, and have a regular income and a credit record that allows the bank to assess your affordability.
Halifax will check things like your income, outgoings, existing debts and your credit history before deciding. They also use an online eligibility checker (a “soft search” which won’t impact your credit score) so you can see your likely rate before submitting a full application.
Being an existing Halifax current account customer can help you access funds quicker and might mean a higher maximum borrowing limit.
There are also some uses of a loan which Halifax won’t support for example business purposes; purchase or lease of land or property (including deposits); timeshares and speculative investments.
Lending decisions and interest rates are subject to Halifax’s assessment of your individual circumstances.
If you have a Halifax bank account, once approved, you could have the money in your account in minutes.
If you don’t have a Halifax bank account you should still receive the money in your account within two hours. Sometimes it may take longer, but no more than three working days.
A Halifax loan has no arrangement fee and you won’t be charged for making overpayments to reduce the amount you owe.
If you miss a repayment, you will be charged £25. If you continue to miss repayments, you may be charged further and it can damage your credit score.
If you pay the loan off early, you may be charged up to 58 days’ interest.
Yes, you can ask for up to two repayment holidays of one month in a 12 month rolling period, subject to approval.
Interest will still be charged for the months that you don’t make any payments, so you'll pay more interest overall and your original loan term will be extended.
We’re here to help you find the right loan for your needs
Reviewed on 8 Dec 2025
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