Banks are heightening assistance for riot victims, including extra funding for property repair work.
In response to landlords and retailers enduring four days of riots, beginning on 6 August, where numerous properties were vandalised, the British Bankers’ Association said “the banks will sympathetically and sensitively consider the problems of each business”.
NatWest said it would refund or waive overdraft fees incurred as result of the riots on a case-by-case basis.
Santander said it would look to provide emergency, temporary working capital assistance, and help with loan repayments to assist customers while insurance claims were being processed.
Elsewhere, the Royal Bank of Scotland agreed to fast-track requests for temporary credit increases, and Lloyds TSB intends to provide additional funding for extra security measures or boarding up where required.
Angela Knight, BBA chief executive, said: “These riots are appalling, and it seems that the majority of businesses affected are small. We hope that as many as possible will reopen, and the banks are putting in place arrangements to help.”
joanna.bourke@estatesgazette.com
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