NatWest
mortgages:
Your expert guide

NatWest is one of the UK's biggest mortgage lenders. At Mojo, we can help you make a successful application with NatWest.

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Rated Excellent

Stuart Bowman

10-minute read

Last updated: 18th August 2020

Why apply for a NatWest mortgage?

NatWest or National Westminster is part of the Royal Bank of Scotland group. Together they're one of the UK's biggest mortgage lenders, although both Natwest and Royal Bank of Scotland do have a few differences in terms of their mortgage deals and rates.

What are NatWest's best mortgage rates?

NatWest's best rates depend on what you want from your mortgage.

Sometimes people want to avoid fees when overpaying or want to avoid any additional costs when applying for a NatWest mortgage. Often, people just want to see the lowest rate the bank can offer.

NatWest mortgage deals

It's important to remember all NatWest mortgage rates will depend on your personal circumstances, and these are only headline rates. Equally these lowest rates may not represent the best deal over the term of the mortgage.

These are examples only.

They are based on an application for a £150,000 loan to purchase a £200,000 property over 25 years.

Lowest 2-year fixed rate

Initial rate: 1.34%

Initial period: 28 months

Initial monthly payments: £592.60

After the initial period this deal reverts to NatWest's Standard Variable Rate of 3.59% with monthly payments of £747.26.

APRC: 3.8%

Fees: £1,273.00

True cost: £219,875.52 (for the 25-year term)

Lowest 5-year fixed rate

Initial rate: 1.60%

Initial period: 64 months

Initial monthly payments: £611.00

After the initial period this deal reverts to NatWest's Standard Variable Rate of 3.59% with monthly payments of £731.20.

APRC: 3.3%

Fees: £1,273.00

True cost: £211,695.20 (for the 25-year term)

Natwest mortgage guide

You can check whether you're eligible for these NatWest deals with Mojo.

We'll show you the best deals from over 90 lenders too.

  • Find out exactly what rates you can get
  • Get help with the paperwork if you want to apply
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These rate examples were updated in August 2020.

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NatWest mortgage application

Like with most other high-street lenders, if you want a NatWest mortgage deal, you can apply online, over the phone, or by visiting a branch. In each case the correct paperwork will be required.

You don't need to have a NatWest bank account to apply for a mortgage with them.

NatWest mortgage tracker

NatWest also has a handy feature called a Mortgage Tracker that let's you login and see the status of your application.

It's very similar to our My.Mojo tool. Speaking of which, here are a few other reasons to use Mojo if you want to apply to NatWest...

Why use Mojo to apply with NatWest?

As well as applying direct with NatWest you can also use Mojo as your broker.

This has many benefits:

  • We're really familiar with their application process and paperwork needs, so we successfully get people mortgage offers with NatWest every day.
  • You can book an appointment in a few minutes
  • Our CeMAP registered advisers will guide you through NatWest's application process
  • We can double and triple check your paperwork – you'll avoid any delays further down the line this way
  • We'll check if you can find a cheaper mortgage deal elsewhere too
  • It's all free
Compare NatWest deals

Does NatWest do broker exclusive mortgage deals?

Yes. If you're eligible for one and it looks like a good fit for your needs, our advisers can talk you through any exclusives.

How long does a NatWest mortgage application take?

After submitting your mortgage application, like all lenders NatWest, will complete a property valuation and start underwriting. It normally takes up 2 weeks before you get your mortgage offer.

NatWest mortgage appointment process

If you decide to apply direct with the NatWest, expect a 2-part process:

Get an appointment to get your NatWest Agreement in Principle

There are 8 steps to getting an Agreement in Principle with NatWest. This document gives both you and NatWest an initial indication of the amount you can borrow.

To get an Agreement in Principle with NatWest you'll need to have proof of your:

  • Address
  • Income
  • Outgoings
  • Employment

With a NatWest Agreement in Principle, there will be a credit check. It'll be a soft credit check, but if you have any red flags in your financial history, you may not be able to proceed to the next stage yet.

NatWest have produced a handy checklist for you.

Remember, an Agreement in Principle from NatWest isn't a guarantee of a mortgage offer, it's just the first stage.

What is an NatWest Agreement in Principle?

A Mortgage in Principle, also called a Decision or an Agreement in Principle, is an important first step in getting a mortgage and is a document that states how much you could potentially borrow from NatWest.

It is also used to show estate agents or new build sales consultants when viewing properties as it shows you to be a serious buyer.

2) Get an appointment to apply

Once you have your NatWest Agreement in Principle, you'll be asked to book an appointment and speak to an NatWest adviser.

You'll probably be asked to submit your paperwork ahead of that meeting to save time, but the appointment can still last about 2 hours.

If everything goes to plan, NatWest will make their mortgage recommendations. Then over the course of the next 2 weeks, NatWest wll value your property and pass your case through their underwriting department.

At this point they'll also perform a hard credit check that will remain on your credit record.

How much can I borrow from NatWest for a mortgage?

NatWest offer up to 5 times your gross salary.

Your actual loan ceiling may be lower if you have a lot of fixed outgoings or your LTV is high.

NatWest remortgages

Like all lenders, a NatWest remortgage is basically like getting a new mortgage all over again. So that means you'll have to pass new affordability and eligibility criteria.

Of course, you'll have equity instead of a deposit and thankfully you won't need to deal with estate agents or housing chains.

NatWest product transfers

You can avoid even more hassle if you're an existing mortgage holder with NatWest and just want to remortgage to a new rate with them in a process known as a Product Transfer.

Normally NatWest email or write to you when your existing deal is about to end and you're going to revert to their SVR. They'll allow you to simply switch to one of a few new rate options, which will save you money compared to the SVR.

You simply choose one and that's it – NatWest will switch you to the new rate.

However, you can check if you can get a cheaper deal still, buy using Mojo's Mortgage Matcher.

You can compare the NatWest offer side by side against the best deals you can get from the rest of the market. If you still want to remortgage with NatWest, Mojo can also sort that out for you within 24 hours.

Can I port my NatWest mortgage?

Yes. Most NatWest mortgage deals allow porting. To be sure you can check the details on your mortgage illustration.

Porting may not always be the best option. Our expert advisers can help you work out if you'll save more in the long term by remortgaging.

What are NatWest's early repayment charges?

NatWest early repayment charges tend to reduce over the length of your introductory offer.

That means the exact charges will depend on how long is left on your introductory deal and how much you overpay by.

Mojo's expert advisers can help you work out your early repayment charges ahead of a full remortgage.

NatWest buy-to-let mortgages

NatWest buy-to-let mortgages have the following eligibility criteria:

You can compare NatWest with all other buy-to-let lenders to find your best deal with Mojo.

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NatWest first-time buyer mortgage

If you're a first-time buyer with at least a 15% deposit, NatWest can be a good mortgage option. Normally Natwest do offer 95% mortgages, but these have been withdrawn while the bank deals with the lockdown backlog.

NatWest offer a range of fee-free and cashback mortgages.

The best deal will depend on your circumstances and our expert advisers will help you find it. We'll help you apply too. Simply start entering a few basic details and we can go from there.

NatWest shared ownership mortgage

NatWest does accept Help to Buy mortgage applications with the government's Shared Ownership scheme.

NatWest wants you to complete your Help to Buy application before applying for your mortgage and does do its own equity loan too.

How long are NatWest mortgage offers valid for?

NatWest mortgage offers last for 6 months.

Ready to see your mortgage options?

Mojo Mortgages is an award-winning online mortgage broker. Let's get you the best rate you can... for free, all from the comfort of your sofa.

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