Good news for homeowners from RBS
December 1, 2008
In a move sure to be welcomed by homeowners, The Royal Bank of Scotland is to announce today that they are to offer more leeway in terms of how long borrowers can be in arrears before they issue repossession proceedings.
RBS are expected to announce today that they will now grant homeowners six months of arrears before they proceed with repossession proceedings, which is twice as long as the period requested by the government. This move comes just a few days after the government spent £15 billion of the taxpayer’s money on shares of RBS.
It’s expected that the other two big mortgage lenders in the UK, Lloyds TSB (through Cheltenham and Gloucester) and HBOS will come under pressure from the government to Read more
