Knock-on effect to further squeeze small firms

CONSUMER affairs expert Eddie Hobbs said the “Halifax effect” will be a disaster for Irish small firms, making funds harder to access than ever before.

The departure of Halifax, effectively the high street brand of parent company Bank of Scotland Ireland, will also be a huge blow for Irish mortgage holders.

Halifax arguably saved Irish homeowners billions of euro by driving mortgages to historic lows at the height of the boom years.