Financial Times FT.com

RBS promises mortgage respite

By Peter Thal Larsen, Alex Barker and Jennifer Hughes

Published: December 1 2008 02:00 | Last updated: December 1 2008 02:00

The political and public campaign to force Britain's banks to do more to help customers weather the economic downturn will gain impetus today with a promise from Royal Bank of Scotland to give at least six months' breathing space to homeowners who fall behind with mortgage payments.

The promise, which will put pressure on other banks to make similar commitments, comes as ministers prepare to outline plans that could see voluntary codes of practice for the banking industry placed on a statutory footing.

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