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Managing your money

Struggling financially

Coronavirus support

Where you have had a direct financial impact caused by the coronavirus, we may be able to support you. Financial impact may be caused by a delay in income, a reduction in income or increased expenditure, unexpected loss of income or other serious change to your circumstances. See the section below to find out more about the financial support available to you. 

NatWest Business customers

We're here to support you. Please visit the dedicated coronavirus guidance and support hub.

Financial support available to you

Mortgages

Existing customers - Your first payment holiday

If your income is temporarily affected by coronavirus we could offer you a mortgage payment holiday of up to 3 months. This option closes on the 31st of October, no applications will be accepted after this time.

Existing customers - End of payment holiday

Before your payment holiday ends we’ll send you a letter about the next steps. If you’ve had a 6 month payment holiday, please refer to the letter we sent you around 3 weeks before your payments are due to restart. It’ll include the different options and how we can provide help and support. If you’ve had less than a 6 month maximum payment holiday and you need additional support, please visit our dedicated page to find out more about your options.

New customers - Recently applied for a mortgage?

If you’ve had a mortgage offer with us approved but because of current circumstances you can’t complete the purchase, we’re here to help. We can extend your mortgage offer by 3 months to give you extra time to complete buying your new property or re-mortgaging your existing property.

Loan repayment breaks

If you are finding it difficult to pay your monthly loan repayment as a result of coronavirus, then you can ask for a 3 month loan repayment break which won’t impact your credit score. This option is available until the 31st of October, no applications will be accepted after this time.

What will happen when my loan repayment break comes to an end?

When your repayment break comes to an end we'll get in touch to let you know what you need to do.

Overdrafts

Request up to £500 interest free and a lower interest rate

If you’re financially impacted by coronavirus, you will have until 31st October 2020 to request £500 interest free on your existing arranged overdraft (or up to your existing arranged overdraft limit if lower than £500) for a 3 month period. We'll also reduce your interest rate on any borrowing above the interest free amount for the same period.

Credit cards

Credit card payment breaks

If you are finding it difficult to pay your monthly credit card payments as a result of coronavirus, then remember that you can reduce payments to the minimum amount. If you still feel that you cannot pay the minimum, then we could provide a credit card payment break without impacting your credit score. This would mean for 3 months, you will only pay £1 per month. Interest will still be applied during this time so your minimum payment will be higher than usual once the payment break ends. This option is available until the 31st of October, no applications will be accepted after this time.

Credit card payment dispute

If you’ve not received the goods or services you’ve paid for by credit card, the first step in making a claim is speaking to the retailer to see if they can resolve. If the payment was made through PayPal, please refer to their Disputes team for details on how to resolve.

Contactless limit increase

The limit for contactless spending with your credit card is increasing from £30 to £45. Retailers need to update their systems to accept these changes, so you don’t need to contact us if your contactless payment over £30 is declined, simply continue to use chip and PIN. You’ll still need to occasionally enter your PIN when presenting your card to prove it’s really you.

What will happen when my card payment break comes to an end?

When your payment break comes to an end we'll get in touch to let you know what you need to do.

Insurance

Home, Renters, Car and Premier (Home, Car or Pet) Insurance payment deferrals

If you're finding it difficult to pay your monthly insurance payments as a result of coronavirus, there are a few different ways we could help you. We can review your levels of cover, your payment dates or organise a payment deferral. Before requesting a payment deferral, please read the important information below to make sure you're fully aware of the impact on your insurance.

Contactless limit increase

The limit for contactless spending with your Debit Card is increasing from £30 to £45. Retailers need to update their systems to accept these changes, so you don’t need to contact us if your contactless payment over £30 is declined, simply continue to use chip and PIN. You’ll still need to occasionally enter your PIN when presenting your card to prove it’s really you.

Request to increase your Debit Card cash withdrawal limit

You can request an increase in your NatWest Debit Card cash withdrawal limit of up to £500 to help you access your money.

Debit Card payment dispute

If you’ve not received the goods or services you’ve paid for by Debit Card, the first step in making a claim is speaking to the retailer to see if they can resolve the issue for you. If you have contacted the retailer and they were unable to assist, we can raise a dispute for you.

Removal of fixed savings early closure charge

Early closure of NatWest fixed savings accounts to access cash with no early closure charge.

Student and Graduate account - no account changes in 2020

If you have a Student account and are expecting to move to a Graduate account this year, due to current circumstances your account will no longer change in 2020. If you have a Graduate account and are due to move to the second year where your interest free overdraft buffer is reduced, this reduction will also not take place in 2020.

What if I can't make a payment?

Ways to get in touch

We are experiencing very high volumes of calls as our customers and colleagues adapt to the impacts of coronavirus. The quickest way to contact us is via the mobile app, which has a 24/7 chat and messaging service.

Get in touch

  • Via the Mobile App: simply tap ‘Help’ at the bottom of the screen followed by ‘Message us’
  • On our pages: ask Cora via the 'Need help' button in the bottom right corner of the page

To help you find the right information, quote 'struggling financially' in your message. 

Independent support available

If you are struggling with your finances, you can get free debt advice. We partner with PayPlan (a third party company), who can offer you free confidential advice for all of your debts. 

Start your journey with PayPlan

Additional support

Citizens Advice
Free advice on debt, benefits, housing, legal matters, employment and general consumer advice.

Money Advice Service
Free advice on debt, divorce/separation, setting up a new home, care & disability.

Stepchange Debt Charity
Free advice on bankruptcy, charging orders, employment, benefits, money management and mortgage/repossession support.

 

Shelter
COVID-19: Help people facing urgent housing issues

National Debt Line
Free and confidential advice on debt.

GOV.UK
Government support for landlords and renters reflecting the current coronavirus (COVID-19) outbreak.

 

Government support for renters and landlords

The government  has brought forward measures to support renters and landlords affected by coronavirus (COVID-19).

Government guidance for landlords, tenants and local authorities

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