Natwest Mortgage Review

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Written by Michael Foote, founder of Quote Goat, has over 13 years experience working in the finance, insurance and currency sectors.

Here is our comprehensive Natwest mortgage review, put together by Quote Goat’s team of industry experts and checked against unbiased customer reviews from independent review sites across the internet.

Do Natwest offer competitive rates?

Compared with other big lender in the UK, Natwest’s mortgage offers are rarely amongst the most competitive and tend to be more expensive than the average.

Most mortgages on offer from Natwest are fixed rate deals with an average two-year fixed-rate mortgage having an interest rate of 2.24%. With the industry average set at around 2.77% Natwest’s fixed-rate deals at two years are competitive. You can also secure a fixed-rate mortgage with Natwest for a five-year period.

How many mortgage products do Natwest offer?

Natwest currently offers around 360 separate mortgages ranging from Fixed-rate and tracker to Buy to Let, Interest Only, Offset and Standard Variable mortgages.

What do customers say about Natwest?

Independent reviews of Natwest online are overwhelmingly negative. From poor customer service and over scrutiny to insulting rewards systems and problems online and in-branch; 83% of customers have recorded a very bad experience with the high street lender.

What are Natwest’s eligibility requirements?

Natwest’s system is to independently review each mortgage application by an assigned team member who will assess each case based on its merits.

Those looking to secure a buy-to-let mortgage must have an annual income of at least £25,000 in order to apply. Natwest also requires a rather substantial 25% of the property’s value as a deposit which rises to 35% for a new-build property.

Those looking to mortgage a leasehold property must have at least 30 years left on the lease at the end of the mortgage term. Properties in central London locations are treated much better by Natwest as they only require there to be 10 years left on the lease by the end of the mortgage.

What is Natwest’s maximum loan to value (LTV)?

Maximum LTV is set at 85% of the property’s value for new-build properties, 75% for a flat. However, you can secure a much higher LTV of up to 95% for loans up to £570,000.

Can I make overpayments with Natwest?

Overpayments are possible with Natwest although they will incur an early repayment charge if you exceed 10% of your outstanding balance each year.

Compare Natwest Mortgages

Quote Goat is partnered with Mojo Mortgages to bring you a fee-free mortgage broker service to help you compare mortgage rates including all of Natwest’s offers to see if you can secure the best possible loan for you.

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