View more on these topics

RBS offers flood victims three-month mortgage holiday

The Royal Bank of Scotland and NatWest are offering borrowers a three-month mortgage repayment holiday for people affected by the floods. 

The bank will also send specialist business support teams to affected areas to help small and medium-sized businesses with short-term financial problems, to help them as they carry out urgent repair work and deal with loss of trading income.

Santander says it is also reviewing mortgages on a case by case basis and may offer payment holidays or conversions to interest-only deals.

RBS chief executive officer Ross McEwan says: “Thousands of families and businesses will battle short-term financial difficulties as they work to recover from the floods. I hope the steps we are taking will make a meaningful difference to the communities that are working so hard to manage through the floods and then recover from them.”

RBS and NatWest also announced a £250m UK Storm Business Fund in January to provide short-term, interest-free financing for businesses affected by recent floods and gales. The fund is available to all businesses, not just RBS and NatWest customers.


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. After the expose on last night’s TV I expect this is their attempt at a bit of restorative PR. They are going to have to do a lot more than that once the full story hits all the headlines.

Leave a comment