in

Santander and NatWest write to millions of customers over cost of living fears this winter


Santander has contacted more than a million customers who may be at risk of falling behind with bills as the cost-of-living squeeze bites.

The High Street bank’s highly unusual move is in response to a worsening economic outlook and a cost of living crisis that has left many households struggling to make ends meet.

Lenders are concerned they could be on the hook for billions of pounds in loan losses if cash-strapped borrowers cannot afford to repay debts.

Last week the Bank of England warned that Britain faces a lengthy recession and rampant inflation as the central bank raised interest rates by 0.5 percentage points – the largest increase in 27 years – to 1.75 per cent.

Santander has contacted more than a million customers who may be at risk of falling behind with bills as the cost-of-living squeeze bites

NatWest, one the UK's biggest lenders, has already contacted 2.7 million customers this year

Santander has contacted more than a million customers who may be at risk of falling behind with bills as the cost-of-living squeeze bites. NatWest, one the UK’s biggest lenders, has already contacted 2.7 million customers this year

The Bank’s gloomy outlook also forecast that real household incomes…



Read the Full Article Here Dailymail

Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

Leave a Reply

Your email address will not be published.

NFL: Panthers waiting to decide if Mayfield or Darnold will be the starting quarterback

Premier League stars are being given ‘player-care officers’ to manage every aspect of their lives