NatWest’s £40m helping hand for customers struggling to pay bills
>
NatWest unveils £40 million support package for cash-strapped customers struggling to pay their bills
<!–
<!–
<!–<!–
<!–
<!–
<!–
Natwest has unveiled a £40 million support package for the bank’s cash-strapped customers.
It is the last time High Street lenders are trying to cushion the impact of rising fuel and food bills on household budgets.
Britain’s largest banks agreed ‘forbearance’ measures with the government last month to help borrowers ahead of an expected increase in mortgage arrears due to sharp rises in interest rates.
Support: Natwest, led by chief exec Alison Rose (pictured), is the latest High Street lender trying to cushion the impact of rising fuel and food bills on households
NatWest’s plans include extending from 18 months to two years the time it takes to repay an unsecured loan or overdraft if payments are missed.
It will also give its 59,000 employees a one-off payment of £1,000 this month.
Chief executive Alison Rose said the number of defaults or payment delays had not risen significantly.
She said: ‘This is designed to provide local support to communities, breathing space for struggling customers and cashback for businesses to offset continued high energy and fuel costs’, adding that it is committed to serving everyone, including people who do not expect to earn money.