Halifax is a British bank operating as a trading division of Bank of Scotland, itself a wholly owned subsidiary of Lloyds Banking Group. It is named after the town of Halifax, West Yorkshire where it was founded as a building society in 1853.
The Halifax was formed in 1853 as the Halifax Permanent Benefit Building and Investment Society. The idea was thought up in a meeting room situated above the Old Cock Inn close to the original Building Society building.
Like all early building societies, the purpose of the society was for the mutual benefit of local working people. Investors with surplus cash would invest in the society to receive interest, and borrowers could access loans to fund the purchase of a house.
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