Cost of living support
Supporting customers through the cost of living crisis.
The rising cost of living is putting real pressure on the UK’s finances. Many of our customers are feeling uncertain about money, with some being forced to make tough decisions. High inflation driven by increasing energy bills and food prices, coupled with slow wage growth, is leaving people feeling the pinch.
While everyone will be affected in different ways, our customers are taking an active role in managing their money using our latest banking tools, and we’re also proactively contacting customers to offer support. For customers who might need a little more help, we’re on hand to talk and work through solutions together.
Some of the ways that we’re supporting customers through the cost of living crisis are:
- Finding tailored solutions to fit peoples personal circumstances, including debt consolidation, payment holidays and underpayments.
- Launching specialist cost of living hubs in our mobile banking apps.
- Giving access to in-app tools such as subscription checkers and spending insights, so our customers have a clear view of where their money is going.
of consumers are extremely or very concerned about home energy prices, which has increased from 63% in January 2022
of consumers are extremely or very concerned about the rising prices of everyday items, which has increased from 50% this time last year
We can’t be the experts in everything – so we work with the people who are.
Between December 2019 and October 2022
Lloyds Banking Group customers have been referred to Turn2us.
In total, Lloyds Banking Group customers will have received
in additional income.
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