Finance News

Coronavirus: Financial Support for Nationwide Customers

Em Morley - March 30, 2020

Nationwide announced last week that it would be rolling out dedicated support for credit card, loans, overdraft and mortgage customers who are financially affected by Coronavirus. 

Britain’s biggest building society has set up a support page to make it easier to set up payment breaks or mortgage holidays for both residential and buy-to-let (BTL) customers as well as users of its other financial products. 

The idea of the support page, which can be found here, is to accelerate applications whilst also freeing up telephone lines for elderly and vulnerable customers who may not be able to use online services to make their applications. 

The extra support and payment holidays will be available for the next three months meaning that those affected by coronavirus should have time to get their finances back in order before resuming their payment schedules. The measures will not affect customers’ credit scores, but interest will continue to accrue. 

Sara Bennison, who oversees Nationwide’s products and propositions, said: 

“These are difficult and uncertain times and we want to do what we can to provide support for those who most need it. Our support package is aimed at providing short-term relief to those who have been financially affected by coronavirus and to ease their worries by giving greater reassurance.

“We have focussed on providing a simple online service which will not only help streamline applications but also free up our telephone lines for those who are unable to get online.

“As a mutual owned by our members, we have a responsibility to help those who require additional financial support. Never has that been truer than now.”