RBS, HSBC and Santander are trying to help their customers who were affected by the floods. They have announced mortgage repayment holiday for the flood victims. NatWest, which was owned by RBS has approved 3 months holiday for mortgage payment for the people who were affected by the flood. If you want information on who you can pay off your loan, when you are affected by the floods, The Telegraph is the best place, to do so.
NatWest also provides business support team who would monitor the affected area and help the people with short term loans. This would help them to take care of small businesses and also to take care of repairs. The bank has also increased the ATM limit for withdrawal to 500 pounds from 300 pounds.
UK storm business fund
All these moves by the bank are beyond the 250 million pounds RBS NatWest UK storm business fund. This fund is to aid people who were affected by floods, due to the heavy rainfall in the western part of London. The fund was launched to aid short term financing and also interest free credit, to help people recover their businesses and homes from the flood.
Actions of Santander
The Santander provided the repayment holiday for mortgage customers. It has also extended the loan agreements up to 12 months, for farmers. Loan extensions were also to be done, without any extension fee. The same goes for business loans and overdrafts.
The personnel in Santander review the accounts case by case to provide the necessary features. The small businesses are provided 6 months reprieve. They are also providing personalized solutions for each customer, to reduce the financial stress. Santander also provides 100 thousand pounds fund to people who were affected by the flood.
HSBC announced 3 months holiday for the loan payment for those affected by flooding. It also announced reduction in charge for loans and credit overdrafts. It also approved fast credit approvals for the people, affected by the floods.