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Huw Merriman

Member of Parliament for Bexhill and Battle

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Personal Financial Help and Advice

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Find out what support you can get if you are affected by coronavirus at this government website page: https://www.gov.uk/find-coronavirus-support 

Free and impartial advice and support for debt and personal finance concerns:

Citizens Advice Bureau

Step Change

Money Advice Service

 

Information from Banks and Finance Websites

Barclays

Support for Customers

We have created a hub with all the latest information on our products and services for customers. It is updated daily so that customers can find the information they need in one place.

Our colleagues are also facing unprecedented times and so we are asking customers to only phone us if they have an immediate financial problem.  That way, we can help make sure that those who are most vulnerable receive the support they need. All of our online and mobile channels are working as normal. 

HSBC

HSBC UK is standing ready to support our personal and business customers as they tackle the financial impact of COVID-19

Santander

Our branches and contact centres, all of which are based here in the UK, provide an essential service. We are working hard to keep as many of these open and fully staffed as possible.

Lloyds

We understand how important it is for our customers to receive support with their finances and, at times like this, we recognise we need to do all we can to be there for them.

All the measures we have announced to date are set out in greater detail on our dedicated COVID-19 website.

Natwest

As the coronavirus outbreak continues, we all face the difficult challenge of responding to the impact it is having on our lives. We are here to support you through these uncertain times.

Coronavirus (Covid-19)

  • COVID-19 Mass Vaccination
  • Vaccination Update for Heathfield residents - 15 January 2021
  • Your Local Vaccination Centres (@ 20 Jan 2021)
  • Priority Vaccination Groups and Numbers (@ 11 Jan 2021)
  • Vaccination for Care Home Residents and NHS and Care Staff (@ 19 Jan 2021)
  • Vaccination Types and Logistics Challenges (@ 11 Jan 2021)
  • Enforcement of Lockdown Restrictions (@ 11 Jan 2021)
  • Vaccinate to reopen the School Gate
  • National Lockdown from 5 January 2021
  • Business Advice & Financial Support
  • Personal Financial Help
  • Charity and Volunteering
  • Coronavirus Scams
  • COVID-19 Recovery Plan
  • Clinically Extremely Vulnerable
  • Education
  • Employment and Jobs
  • Testing - COVID-19
  • FAQs
  • Health and Hygiene
  • Housing
  • Self-Isolation: Help in Your Area
  • Social Distancing
  • Travel and Transport
  • Vulnerable People and Groups
  • Your Mental Wellbeing
  • Faith support

UK Finance - Business Support

CLBLIS

The Chancellor has also just announced an expansion of the government-backed loan scheme. The Coronavirus Large Business Interruption Loans Scheme (CLBILS) will be launched for all viable firms with a turnover of more than £45 million (who will be able to apply for up to £25 million of finance) and companies with a turnover of more than £250 million (who will be able to apply for up to £50 million of finance).

The new CLBILS will provide a government guarantee of 80% to support banks in making available more loans of up to £25m to businesses with an annual turnover of between £45m and £500m. Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest and further details of the scheme will be announced by the Government later this month.

We are also having to manage expectations amid justifiable public interest. The rules set by the Treasury make clear that CBILS are not designed for all businesses, principally because they require us to assess affordability. Even with a taxpayer guarantee of 80%, CBILS are loans and may not be suitable for businesses that would struggle to meet the additional repayment costs after the 12 month interest-free period expires. We know from cases MPs have brought to our attention that this is a source of profound frustration for those that find themselves excluded through no fault of their own. Details of how CBILS work and how to apply can be found here.

CBILS are not the only form of help available. Indeed, so far only a fraction of the thousands of small business customers we support have applied for one, although they may do so later. Many for the moment are instead making use of government support such as VAT or NIC deferrals and furloughing staff under the Job Retention Scheme. We are finding that the great majority - four out of five – don’t want to take on additional debt. Rather, they want to reduce overheads by seeking short term working capital solutions. We have been using the £2bn coronavirus fund we set up at the beginning of the crisis, with 17,000 capital repayment holidays and 10,000 overdraft extensions put in place so far - fee-free. Our data also shows that many micro-businesses, such as sole traders, are supporting themselves by seeking help with their personal finances too, for example though mortgage repayment holidays, another key part of the overall package we offer.

Huw Merriman MP for Bexhill and Battle

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