With thousands of householders being left devastated by recent flooding, thoughts could well be turning to how they're going to cope financially. Luckily banks are coming to the rescue – by offering financial support to flood victims.
A range of big names have agreed to offer support, a move which has been backed by David Cameron, with help ranging from emergency phone lines to overdraft extensions and fast-track loan acceptances.
A lot of banks will review situations on a case-by-case basis, but here's a quick overview of who's getting involved and what they're potentially offering:
Royal Bank of Scotland and NatWest are offering affected mortgage customers up to three months' repayment holiday, and have increased the daily limit that affected current account customers will be able to withdraw from cash machines (from £300 to £500). The banking group has also set up specialist small business support teams, who will help business customers with short-term financial problems they may be experiencing as a result of the floods, and has set up a £250m UK Storm Business Fund to provide short-term interest-free financing to help speed up business recovery. Call 0808 408 0840 - for enquiries from personal and business customers.
It's encouraging to see so many banking institutions offering additional support, particularly during a time which will already be incredibly stressful and financially strained. If you've been affected by the floods and are wondering which way to turn, the first port of call should always be your banking provider.
Contact them with any query, either by using the specialist help lines mentioned or via your usual method of contact, and see if they'll be able to offer any additional support.
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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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