I can’t moan about the persistent rain, so far all my family has had to endure is endless cancelled football matches and a brimming cess pit – which I won’t go into.
The news is full of whole communities, cut off from their homes and businesses, clearly spending their time trying to save their homes and possessions rather than popping off to work as usual.
Besides the obvious problem of claiming on insurance for flood damage, it got me thinking, how are these people going to cope with their loss of earnings? If they were ill they would at least get something, but as far as I know “Can’t get to work because there is a river downstairs in my house,” won’t get a pay-out from anyone.
Thankfully, some banks have announced a range of support for flood victims; Santander said it would offer free overdraft extensions and mortgage payment holidays to customers who have been affected by the flooding. Last week The Royal Bank of Scotland (RBS) group - which includes NatWest announced that RBS and NatWest mortgage customers with flooded homes will be able to apply for a three month mortgage repayment holiday.
Hopefully by the time this article has been printed, other lenders will have come out in sympathy with the thousands of families battling short-term financial difficulties as they work to recover from the floods.
I would urge anyone having trouble paying their loan (for any reason) to contact their mortgage provider. There are a number of steps they can take to help including payment holidays, accepting interest only or reduced payments for a period of time. The key is to keep the dialogue going, so please contact them as soon as you can. And to anyone who has been affected by the recent flooding – may I wish you the very best of luck with the recovery operation!
For more information contact us on 01628 507477.
Recent posts
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
From 18th May 2026, Halifax (part of Lloyds Banking Group) is launching a ‘£5k Deposit mortgage’ to help first-time buyers get onto the property ladder sooner.
Homeowners could be faced with paying over £3,000 more per year on their mortgage if the conflict in the Middle East continues, following new analysis from INTEREST from Moneyfacts.
Best UK Mortgage Rates this Week
13 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Renters' Rights Act
21 days ago
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
Green Mortgages | Rewards and Benefits
21 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
Costliest Streets in Great Britain
25 days ago
Recent data from Rightmove shows the most expensive streets in Great Britain, with the majority being situated in the capital.
More information
Trusted by
