View more on these topics

RBS extends mortgage arrears respite to six months

Royal Bank of Scotland has revealed it will now wait for six months before those with mortgage arrears are repossessed.

In his pre-Budget report, Chancellor Alistair Darling pledged that banks would allow three months before repossession proceedings take place. But RBS has extended that pledge after a Government bailout of its rights issue saw the taxpayer become owner of 58 per cent of the bank.

RBS managing director of retail banking Craig Donaldson says: “We hope that our commitment will reassure our customers that we are committed to providing them with enough time, professional support and the assistance they need to resolve their financial difficulties.

“Our policy has always been to encourage those customers facing financial difficulty to talk to us so that we can work together, understand their individual circumstances and jointly resolve their financial problems. The repossession route is always a last resort and one where all other reasonable attempts to resolve the position have failed and one that we look to avoid where at all possible.”


Website urges investors to review with-profits

DMP Marketing is setting up a website called to encourage consumers to review their policies and direct them to an IFA in their region for guidance.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm