In This Article
Who is NatWest bank?
NatWest is a British bank that provides financial services for individuals and businesses. This UK bank has a history of over 300 years and operates in several countries, including the United Kingdom, Guernsey, Isle of Man, Jersey, and Gibraltar. NatWest offers products and services such as personal banking, business banking, and investment services.
NatWest bank offers various banking services to personal, business, and corporate customers. It is a subsidiary of the Royal Bank of Scotland Group. Together they’re one of the UK’s biggest mortgage lenders.
Although NatWest and Royal Bank of Scotland have a few differences in their mortgage deals and rates, they’re still in the same group.
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What mortgages does NatWest bank specialise in?
NatWest provides a range of mortgage products.
Their product range includes:
- Residential purchase mortgages for first time buyers and home movers
- Residential remortgages
- Help to Buy scheme mortgages for first time buyers and home movers
- Buy to let mortgages, either purchases or remortgages.
NatWest also offers a range of specialist mortgage products, including self-build and offset mortgages.
NatWest bank mortgage rates
The best rates offered by NatWest depend on the specific mortgage product you are interested in and your individual goals for the mortgage. Some products may have lower interest rates, while others may charge fees for overpaying. Speaking to a whole of market mortgage advisor may be a good option.
The NatWest mortgage range includes fixed rate, tracker and discount mortgages and a range of mortgage products for first-time buyers, right-to-buy customers and those looking to remortgage.
NatWest product transfer – Is your fixed rate expiring with NatWest?
If you have a mortgage with NatWest, you may be able to get a new rate by switching through their product transfer process.
It’s a good idea to speak to a mortgage advisor to find out if this is the best option for you and to compare rates from different lenders. The mortgage advisor can also handle the transfer for you.
Switch your Natwest rate
If your rate is up for renewal, or just want to look at what they offer. You can find information on NatWest switch to a new deal.
You can choose to switch your NatWest rate if:
- Your current Residential or Buy-to-let mortgage deal is coming to an end.
- Your mortgage deal has ended and you’re currently paying their Standard Variable Rate (SVR).
Thinking of borrowing more with NatWest?
You may be able to borrow more, on the same rate, when you would like to borrow more.
It is recommended you speak with a mortgage advisor to to find out if borrowing more with NatWest is your best option. The mortgage broker can review the whole market and confirm the best option for you.
How long does a NatWest bank customer mortgage application take?
You can apply for a NatWest mortgage online, over the phone, or by visiting a branch. The necessary paperwork will be required in each case.
You don’t need a NatWest bank account to apply for a mortgage with them. However, utilising a mortgage broker may make this process easier for you.
With a high street lender, such as NatWest, a mortgage application to be approved typically takes around two weeks which then the mortgage offer is produced. However, this timeframe will likely increase if the application is a complex mortgage due to bad credit or a non-standard property type.
The general mortgage process is as follows:
- The first stage of a NatWest mortgage application is to obtain an Agreement in Principle. This document outlines how much the applicant can borrow from NatWest Bank.
- The second stage is to find a property within the price range that the Agreement in Principle has set.
- The third stage is to arrange a mortgage interview. This is generally done once an offer on a property has been accepted. The mortgage interview is used to confirm that the applicant can afford the loan and to discuss the options for a home valuation.
- The fourth and final stage is to hire a solicitor or licensed conveyancer. This professional will oversee the conveyancing process until the property transaction is completed.
Declined a NatWest bank mortgage?
If you have been declined a mortgage from NatWest Bank, it may be beneficial to seek out the advice of a mortgage advisor.
A mortgage advisor can help you find a lender who may be willing to give you a mortgage, even if NatWest Bank has declined you.
There are many reasons an application may be denied, such as having a poor credit score, not enough income, too much debt, being self-employed without enough documentation to support your application, or having an unstable employment history or length of time in employment.
However, NatWest Bank usually only offers mortgages to people with good or excellent credit scores from the leading credit reporting agencies.
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Conclusion
NatWest Bank is one of the UK’s oldest and most respected banks. It offers a wide variety of mortgages to suit borrowers in a variety of situations.
If you’re looking for a standard mortgage with NatWest Bank it is worth considering speaking with a mortgage broker. You can apply for a mortgage directly through the bank, but comparing rates with a whole-of-market advisor is an excellent idea to ensure you’re getting the best deal. Also for a mortgage adviser NatWest will offer broker exclusive mortgage deals.
Therefore it may be better to talk to a mortgage broker who can help you compare rates and find the right mortgage for your needs.
Please complete the contact form below if you want to speak with a mortgage advisor to help you find the right mortgage.
Please note, although the information on this page is correct at the time of writing, lenders change their policy on a regular basis so please use it as a guide only.
To find out up to date information about lenders and mortgage advice in general, contact a qualified mortgage adviser.
The information on this page is not tailored to any individual readers and should not be considered financial advice under any circumstances.
If you are seeking advice about a mortgage, you should consult a qualified professional.
