It is hardly possible to surprise banks as they are viewed, due to past evidence of their behavior.
However, they are improving.
The advantage of the financial collapse and Pavid’s pandemic (it should be) is that banks are more practicing humanity.
Ever since they were rescued by the government in 2008 – whether they took the money directly or not – there is an awareness that they owe us.
NatWest is still 48% owned by us, which means it can’t deal with returning our homes unless it’s quite the latter option.
Covid’s blockade and vacation meant the banks needed to get used to it mortgage paid vacations and other concessions.
Now with Fr. cost of living crisis only getting worse and inflation biting, those systems that are in place are likely to come in handy again.
The message from the banks and from Nationwide, the largest construction company, to those struggling is simple: talk to us.
They really don’t want to seize someone’s house and lately have a lot of practice helping people get through instead of falling underground.
So far, there are few signs that the debts are being repaid. Most people still cope. This will definitely change over the course of the year.
But the reality show “Banks is behaving badly” this time may have a different twist. It was better.