CEOs of UK banks including Alison Rose met the Chancellor, Jeremy Hunt, and regulators on Friday 23 June 2023 to agree more flexibility for mortgage customers.


Our CEO Alison Rose DBE said:

“Our priority is to help the people, families and businesses we serve to navigate this ongoing economic uncertainty. The agreement of a mortgage charter, following discussions between mortgage lenders,  government and regulators, will provide further reassurance to customers who may be anxious about their household finances. We stand ready to support those worried about the future, and encourage anyone experiencing financial difficulty to get in touch."


Detailed changes can be found here

Support we already offer customers in difficulty

The support we offer is always tailored to a customer’s individual needs. Where appropriate we can provide forbearance, breathing space, repayment plans, or if it’s right and affordable for the customer, extending a mortgage term to spread payments, or a temporary switch to an interest only mortgage.

We stopped all fees and charges for personal mortgage customers in persistent financial difficulty from the end of April 2023, when they are receiving help from our specialist Financial Health and Support teams.

We’re proactively highlighting support available to customers through our cost of living hub, including:


Breathing Space – no charges or contact for 60 days, while a customer is encouraged to seek money advice.


Repayment Plans – we offer the ability to repay missed payments over a 24-month period on mortgages.


Reduced payments – customers can reduce their monthly mortgage payment (to £0 if required), for up to the value of 3 missed payments. This type of forbearance is most appropriate when a customer can see their situation improving in the future.


Term Extension – we can extend a customer’s mortgage term to lower their monthly repayment, plus are changing the policy to enable extensions to the age of 75 (from 70 currently).


Capitalisation – customers can capitalise arrears every 5 years, subject to demonstrating an ability in advance to meet the new monthly payment.


Switch Products – we do not restrict customers in switching products when in financial difficulty.


Interest Only – we offer this in specific scenarios (e.g. where the customer circumstances are likely to change soon).


*Repossessions are a last resort and we have a range of treatments to support customers before reaching this stage.



This is for media use and not a financial promotion

Information about mortgages

NatWest, RBS and Ulster Bank mortgages are available to over 18s. Your home may be repossessed if you do not keep up repayments on your mortgage.

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