Banks, building societies and the taxman are offering a helping hand to support flood victims and ease the financial stress on families and businesses.
Lloyds Banking Group, Nationwide, Royal Bank of Scotland (RBS), NatWest, HSBC and Santander have all announced measures including special helplines, offers of mortgage repayment holidays, overdraft extensions and speeded-up cash loans to cover emergency costs.
Meanwhile, HM Revenue and Customs (HMRC) has also launched a phone helpline – 0800 904 7900 – for anyone affected by the floods to get help with tax problems. HMRC said it will agree “a practical approach” where people and businesses have lost vital records due to the floods and suspend debt collection proceedings for those affected.
It will also agree payments to be made in instalments in cases where taxpayers are unable to hand over the money as a result of the floods.
Lloyds Banking Group has announced a £250million fund to provide fee-free lending for businesses and farmers, as part of the help it is offering to flood victims.
Businesses across Britain can apply for the fund through Lloyds Banking Group’s branches.
RBS and NatWest, which are part of the same banking group, said that customers with flooded homes can access three-month mortgage payment holidays through a helpline – 0800 408 0840.
HSBC has pledged to give those customers affected more flexibility, including fast-tracking credit acceptances as well as loan and overdraft extensions.
Santander has also set up a helpline to deal with inquiries – 0800 121 4993 – and said it will consider giving mortgage customers a payment holiday.
Nationwide also said it will give extra help to those flood victims who are struggling with mortgages.