HSBC statement on providing financial support to those personal and business customers affected by the UK floods.
Antonio Simoes, Head of HSBC in the UK, commented: "We understand the huge strain the floods are placing on our business and personal customers in affected areas and we want to make sure we are providing the support that they need now and in the future. We recognise that the consequences of the floods will be long lasting and we will continue to provide the financial support and flexibility our customers need."
In these difficult times we are offering customers impacted by the floods the following financial support:
• We will provide increased financial flexibility to our customers, such as fast-track credit acceptance, and loan and overdraft extensions.
• We will lend to customers according to their needs and not constrained by any overall cap.
• We will consider a loan repayment holiday of up to 3-months.
• We will extend flexibility to waive or reduce arrangement fees on loans and overdrafts.
• We will remove limits on emergency payments for insurance customers to ensure they receive immediate support to repair flood damage.
In addition to the financial support we can offer customers, our employees are also there to help by reacting quickly and with flexibility:
• We are working with latest mapping technologies to try to identify properties at risk of flooding and proactively make contact with customers to offer support.
• Insurance claim loss adjusters have been posted to some of the worst-hit areas, such as Somerset and the Thames Valley to ensure claims can be processed quickly.
• Our personal insurance call centres have been working additional hours to ensure calls and claims are dealt with in real time where possible – with most calls answered within 20 seconds.