The First Halifax Mortgage
The first Halifax mortgage was taken out by Esau Hanson, on 26th May 1853. Hanson was also a member of the Society's board of directors, and one of 11 men who attended its first formal meeting at the Old Cock Inn.
The mortgage was for ￡121 – about ￡7,000 today. It enabled Hanson to buy a plot of land on which he built two houses. The loan was paid off at a rate of ￡13 a year, over 13 years. Interest was charged at 5%.
By an amazing coincidence, this piece of land now forms part of the present Halifax Head Office at Trinity Road.
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