Take Control of YOUR Finances

TALK TO THOSE CLOSE TO YOU

Worrying alone about money can have a negative impact on your mental health. You may feel that you alone are under pressure to provide for your family, your partner or paying the rent to your landlord. Talking gives others to chance to understand the situation, offer help and reduce your worrying. 

TALK TO YOUR FINANCE COMPANIES

Talk to your mortgage, personal loan, credit card & utility providers. Most are offering payment holidays for up to three months on a case by case basis.

 

Credit Cards 

 

Some banks will all allow customers to apply for a temporary increase to their credit card limit,  offer refunds on any fees charged for withdrawing cash on a credit card, waive fees for missed credit card payments, and some are even removing interest charges.
 

Cash withdrawals & overdrafts.

 

Some banks are allowing customers 

 1. To apply to increase their maximum cash withdrawal limit at an ATM to £500, 

2. Increased deposit limits for online banking to help people who may not be able to access branches, including up to £500 using cheque scanning. 

3. Increase overdraft limits, and removing overdraft interest charges for members in financial difficulty. 

4. From 18 March, more than 100 Nationwide branches will open an hour early from 8am specifically to help vulnerable and elderly customers manage their money. 

Can I work elsewhere if I'm furloughed?

You may be able work elsewhere (e.g. care working) while on furlough. There's nothing in the furlough rules which stops you from taking a job elsewhere if you're placed on furlough by an employer (doing so wouldn't affect your furlough pay either). But your employment contract may not allow it, so check.

UNIVERAL CREDIT AND STATUTORY SICK PAY

Should you sadly find yourself unable to work then you can apply for Statutory Sick Pay (SSP) or Universal Credit (UC). 

           It will be extended to all of those who are eligible and asked to self-isolate, even if they are not showing symptoms.  The payment, which works out at £94.25 per week, will be available from day one of quarantine.

Universal Credit 

1. Don’t delay making a benefit claim, even if you think you may be affected by coronavirus. You can apply for

                                        online. If you need to make an appointment, call the number you are given when you submit your claim, and explain the situation. 

2.If you need to claim UC or ESA because of coronavirus, you will not be required to produce a Fit Note.

3. If you are affected by coronavirus you will be able to apply for Universal Credit and can receive up to a month’s advance upfront without physically attending a jobcentre.

4. If you are suffering from coronavirus or are required to stay at home and want to apply for ESA, the usual 7 waiting days for new claimants will not apply. ESA will be payable from day one.

 
 

Monzo state that 

  • If you’re worried about repaying your loan or overdraft, please let them know

  • Whether you’ve been affected financially by coronavirus or not, if you’re worried about keeping up with your loan or overdraft repayments, or something’s changed in your circumstances, you should always let Monzo know.

They are currently not able to offer CBILs BUT are looking into ways that they can support small businesses. Please keep an eye on this website for further information. 

Monzo have have put together some excellent help and advice regarding financial help during the corona virus. The Money Mum is impressed. 

Branding

I’m a paragraph. Double click me or click Edit Text, it's easy.

  • Mortgage customers - Customers with a TSB mortgage may apply for a repayment holiday for up to two months. 

  • Savings customers will be able to waive early closure fees on our Fixed Rate ISA products and we will allow Fixed Bond customers to surrender their policies early to gain access to their money.

  • Credit card customers may request an emergency credit limit increase.

  • Current account customers can withdraw up to £500 from UK cash machines.

  • Personal loan customers - Our personal loan products all have repayment holidays available as standard for any customers who need short-term relief on their outgoings.

Customer Service Tel: 03459 758 758

Customers contacting the bank will be given support depending on their specific circumstances and help could include the option to defer or reduce payments that are due or increasing credit and borrowing limits.

Dedicated Support - 0800 01 56 382

  1. No fees for missed payments on credit cards, loans and mortgages.

  2. Payment holidays on mortgages and loans with additional support provided when you need it.

  3. Emergency access to savings in fixed-term accounts without charge.

  4. Deposit limits of up to £500 for mobile banking, so you'll be able to scan and pay in cheques.

Customer Service0345 602 1997

I’m a paragraph. Double click me or click Edit Text, it's easy.

No immediate policy changes; encouraging customers who do need additional support to contact the Bank as soon as possible for help.

 

For customers who are experiencing or anticipate problems making repayments to their mortgage, overdraft, personal loans or credit cards due to coronavirus (COVID-19):

  • We are encouraging them to speak to our specialist teams who have a range of measures available to support customers

  • We are removing penalty charges to accessing fixed savings accounts early for those facing hardship

  • We are enabling customers to apply for a temporary increase on their credit card limit

Telephone Helpline 0345 734 5345

I’m a paragraph. Double click me or click Edit Text, it's easy.

While everyone will have individual needs and challenges, some of the ways we may be supporting members  over the short term  include: 

  • Payment holidays on mortgages,  allowing a period of flexibility. 

  • Increased credit  card  or overdraft  limits  to help you get through a short period of reduced income. 

  • Penalty-free early access to savings in fixed term accounts. 

  • Support  for members in financial difficulty, such  as  removal of interest charges on credit cards and overdrafts. 

 Future Payments 0800 464 30 30 

  1. Payment holidays on Mortgages, and Loan deferral for up to three months

  2. Early closure of fixed savings accounts to access cash with no early closure charge

  3. Refunds on request for credit card cash advance fees, where you've needed to access cash in an emergency

  4. You can apply for an increased credit card limit

  5. You can request an increase in your Debit Card cash withdrawal limit of up to £500

Customer Service Tel:03457 888 444

  • Short-term support through reduced or deferred payments for mortgages

  • Longer-term support through extending the remaining term of your mortgage, switching rates or switching part or all to interest-only mortgage arrangements

  • Giving you early access to fixed-rate savings accounts without closure charges

  • Support for anyone with unsecured debt through reduced payments or breathing space to defer payments due. These solutions are tailored to individual needs

  • The option of a temporary increase in credit card and overdraft limits

 Telephone  Helpline 03457 404 404

©2019 by Kate Goodchild The Money Mum. Proudly created with Wix.com