You are here: Home - Saving & Banking - News -

Lloyds offers support service to cancer sufferers

0
Written by:
28/07/2017
Lloyds Bank has launched a new service in partnership with Macmillan Cancer Support to help people affected by cancer manage their finances.

Macmillan says that 2.4m are currently living with a cancer diagnosis and for many the financial impact of the disease comes as a surprise. Macmillan’s Support Line is 25x more likely to receive calls about financial issues than those related to death or dying.

Patients having to take time off work and travel to hospital regularly for treatment means four in five (83%) people are, on average, £570 a month worse off as a result of a cancer diagnosis. Family members may also need to stop working to care for a loved one. Only 11% of people are turning to their bank for help.

Lloyds Banking Group’s new Cancer Support Team has been trained by Macmillan so they understand the financial impact of a cancer diagnosis and can offer bespoke support. The dedicated team can help Lloyds Bank, Bank of Scotland and Halifax customers with concerns they have and with managing their personal banking, savings, loans, mortgages and credit cards.

Martin King, head of strategy and capability at Lloyds, said this support might be taking a payment holiday on a mortgage, waiving fees or account charges, or pausing loan repayments. He said: “Each case is individual. It may be that people have money in term deposits, where an early exit would normally attract penalties. We can help with that.”

The group has plans to widen this out to other health problems. It has been working with Mental Health UK on devising a similar system for those with mental health problems. It also works with Grief Encounter to help people who have been bereaved.

Nationwide also has a partnership with Macmillan. The cancer charity called on financial services providers to do more to help cancer sufferers after a spike in worried patients calling their help line. In 2015, the BBA launched a set of guidelines to help staff provide the best possible support to people with critical or long-term illnesses.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Seven ways to protect your family

Accumulating wealth is one thing, but protecting your finances and the wellbeing of your loved ones is another. So make...

Close