Redundancy

Our advice and resources are designed to help you manage your money and get the support you need when dealing with redundancy.

Redundancy can be a life changing and stressful time. But it can also bring you new opportunities.

Whether you’re looking for advice to stay in control of your money, or for support in taking that next step – we’re by your side.

Get support with money worries

If you’ve been made redundant, it’s a good idea to get in touch with your creditors, even if you’re up to date with your payments. Let them know you’ve been made redundant. They may be able to help.

It is also worth you checking to see whether you have any Payment Protect Insurance (PPI). It's insurance that pays out a sum of money to help you cover repayments on your credit card or mortgage (product) in certain life events. If you have cover, it may help you if you’ve been made redundant. Please keep in mind that this information is only a guide to what benefit you may be able to claim. All claims are assessed, based on your current policy terms and conditions.

If you're struggling to manage your payments or are worried about covering the essentials, you are not alone. We’re here to support you.

Money worries

Get help to manage your money

We’re by your side if you need help and guidance on how to manage your money.

From day-to-day budgeting to planning for the future, we have tips and tools to help you get a clear picture of your finances. These may help you to prioritise your bills and work out what you can afford to spend, or how much you could save.

Managing your money

Know your redundancy rights

If you are facing redundancy, your employer must treat you fairly. There is a legal redundancy process that they must follow. MoneyHelper is an independent organisation that can guide you through the process.

Understanding your rights

Look after your mental health

At times of change, it is important to look after yourself. If you are struggling with your mental health, it may make it harder to face managing your money. We can help you and are by your side.

Mental health support

Additional support if you are made redundant

Independent help and advice

There are independent organisations that can help you with your money worries. These are free services. You’ll also find advice from your national government on a range of benefits and housing options that you may be entitled to.

Get free help now

Digital skills

If you need guidance on finding your next career path, the learning academy can help. There are some free online courses to support you with your next job.

Lloyds Bank Academy

Help from Jobcentre Plus

You may be able to claim benefits from the government, while you’re looking for work. They also have a job search tool available. Take a look and see if there’s anything in your area that would suit you.

Jobcentre Plus

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

Calls may be monitored or recorded to help us improve our quality of service.