Halifax News & Analysis
2 articles
Market Mood
Lloyds (LLOY) Banking App Outage Affects Thousands of Users
Thousands of Lloyds Banking Group (LLOY) customers reported issues accessing online banking starting around 1115 BST, according to Downdetector. The bank, serving 26 million customers, acknowledged that some users are experiencing problems with their Mobile App. An error message indicated a 503 status, meaning the server was not ready to handle requests. In a related incident, an IT glitch in March had previously exposed transaction data for almost half a million customers, raising concerns about the bank's technical reliability.
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UK House Prices Decline 0.5% in March Amid Iran War Uncertainty
Average UK house prices fell by 0.5% in March to £299,677, as reported by Halifax. This decline reversed a prior 0.3% increase in February and was attributed to rising mortgage rates linked to the Iran war's impact on energy costs. The situation has raised concerns about inflation and diminished confidence in potential interest rate cuts this year. Recent weeks saw significant mortgage rate increases and withdrawals of mortgage deals, marking the largest such withdrawals since the 2022 mini-budget under former Prime Minister Liz Truss.
Read More: UK House Prices Decline 0.5% in March Amid Iran War Uncertainty