Landlords Wanted
Several banks are announcing support to those affected by the floods.
RBS, NatWest, Santander and HSBC are offering payment holidays and extended credit to customers and small businesses.
These pledges have followed strong Whitehall pressure and David Cameron’s declaration that “money is no object in this relief effort. Whatever money is needed for, it will be spent”. The PM also called for a united “great national effort” in repairing the devastation caused by the floods.
Statements from the banks are shown below:
•RBS and Natwest –
“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.”
•HSBC –
“We understand the huge strain the floods are placing on our business and personal customers in affected areas and we want to make sure we are providing the support that they need now and in the future. We recognise that the consequences of the floods will be long lasting and we will continue to provide the financial support and flexibility our customers need.”
•Santander –
“We know at times like this the priority focus for our customers is, rightly on safety, food and shelter. We are already working with our customers to find personalised solutions that can help alleviate any financial stress caused by the recent floods, to allow them to concentrate on what matters right now.”
Deloitte insurance has estimated that the average flood damage insurance claim is likely to be between £30,000 and £40,000, while estimates for the total cost of cleaning up have hit £1 billion.