NatWest to allow mortgage deferrals for flood victims

NatWest announced it has introduced a series of new measures to help support customers affected by the serious flooding across England and Wales.

The bank said that for personal customers, mortgage and loan repayments could be deferred for up to three months, and that customers can close fixed savings accounts to access their cash with no early closure charges.

NatWest added that it would issue refunds on credit card cash advance fees, and that customers could apply for an increased temporary credit card limit, as well as request an increased cash withdrawal limit of up to £500.

Insurance teams have deployed field personnel in branded vehicles to the flooded areas to provide immediate response and advice to the bank’s customers, and have made contact with vulnerable customers, NatWest revealed.

For the bank’s business customers, NatWest said its new measures include loan repayment holidays, interest rate reductions, temporary emergency loans with no fees, overdraft facilities and working capital support.

NatWest also suggested it would help with financing strategies by providing businesses with access to specialist bank staff.

NatWest Bank CEO, Alison Rose, commented: “We are helping customers and business owners affected by the recent flooding by providing additional credit or access to finance where needed, so they can concentrate on getting their homes or businesses back to normal. We would urge affected customers to get in touch with us, either by phone or in a branch, to discuss how we can help.”

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