Mortgage breaks for flood victims

Updated: 

Britain Floods

Royal Bank of Scotland is offering three-month mortgage repayment holidays to customers with flooded homes.

The group, which includes NatWest, said it would unveil full details of the scheme tomorrow together with contact numbers for customers to get in touch.


It said it would also send specialist business support teams to affected areas in coming weeks to help small businesses with short-term financial problems as they carry out repairs and suffer lost trading income.

The group, which is 80% owned by the taxpayer, said the moves were in addition to a £250 million RBS/NatWest UK Storm Business Fund announced last month.

The fund was launched to provide short-term, interest-free financing to help speed up recovery for businesses affected by recent floods and gales, and is available to all businesses, not just those that already bank with RBS and NatWest.

RBS chief executive Ross McEwan said: "Thousands of families and businesses will battle short-term financial difficulties as they work to recover from the floods.

"RBS will stand by our customers and help them in any way we can.

"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."