RBS Pledge to Homeowners
1 December 2008
The Royal Bank of Scotland has announced a helping hand to homeowners who find themselves in difficulty when making their mortgage repayments.
The bank, who also owns NatWest, said it will delay taking legal remedies for repossession until their customers are at least six months in arrears.
Writing in the Financial Times today, 1st December 2008, RBS Chief Executive, Stephen Hestor, said “we need to recognise our customers’ needs”. The measure is believed be in place until the end of 2009. It is unknown whether other banks will be following RBS’s lead.