NatWest mortgage review
Our detailed review of NatWest mortgages. Find out how much you could borrow, compare deals and more
Quick stats
16-day submission time
That's 4 days faster than the 20 day average across the lenders we've measured.
Borrow up to 5x your income
You could borrow up to this amount if you meet the lender's requirements.
About NatWest
Natwest is one of the UK’s largest mortgage lenders and is a part of The Royal Bank of Scotland Group.
The group provided 11.4% of all mortgages in 2018, a total of £30.5 billion¹.
Natwest offers mortgage deals to many people but often will not lend to you if you have bad credit.
In this review we'll cover:
Is NatWest a good mortgage lender?
We're looking at public complaints data to estimate NatWest quality of service
There were 2,257 complaints from NatWest mortgage customers between July and December 2019.
That’s around 0.13% of customers and is lower than the 1.06% average across major lenders.*
Natwest scorecard:
Natwest is a good mortgage lender for first time buyers
Natwest does not offer shared ownership mortgages
Natwest offers high LTV mortgages
*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.
How long a NatWest mortgage application takes
In the last 6 months it took NatWest an average of 16 days to process mortgage applications from Trussle customers.
That’s 4 days faster than the 20 day average across all the lenders we’ve submitted applications to.
What affects the time taken to approve my application
The time it takes a lender to approve an application depends on your personal circumstances and how busy the lender is.
It can take as little as 24 hours to approve some applications but some can take weeks or even months.
The quality of the application can affect the approval time. A mortgage broker can help by making sure your application has all the details the lender needs.
These details were last updated in July 2020.
How much you can borrow from NatWest
Natwest could lend you up to 5 times your salary.
How much you can borrow will also depend on your:
credit history
debts
deposit
regular expenses and bills
age
See how much you might be able to borrow with our mortgage calculator.
These details were last updated in July 2020.
NatWest mortgage calculator
Calculate how much you may be able to borrow with a mortgage from Natwest. Calculate your monthly Natwest mortgage repayments.
How much can I borrow?
Mortgage repayment calculator
You could borrow up to:
Your home could be repossessed if you don't keep up repayments on your mortgage.
Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.
Types of mortgages Natwest offer
Natwest offers a variety of mortgages for different types of customers.
They offer:
Fixed rate mortgages
Standard variable rate
Tracker mortgages
Offset mortgages
Interest only mortgages
Buy to let mortgages
They do not offer shared ownership mortgages. Find out more about shared ownerships.
NatWest's lowest mortgage rates
NatWest mortgage rates will vary depending on the type of mortgage you’re recommended.
The following NatWest mortgage rates are based on securing a mortgage of £181,600 on a £227,000 property (that's 80% loan-to-value) over a 25 year term.
Lowest 2 year fixed rate
1.74%
Initial rate
3.90%
Annual Percentage Rate of Charge (APRC)
Details
Based on securing a mortgage of £181,600 over a 25 year term. Reverts to SVR after initial 26 month period, costing £962.63 per month for 274 months. Total amount payable is £284,206.06 including interest and fees. True cost based on a 24 month period. This deal is semi-exclusive to Trussle. This deal was last updated on 1st March 2019.
Lowest 5 year fixed rate
2.17%
Initial rate
3.50%
Annual Percentage Rate of Charge (APRC)
Details
Based on securing a mortgage of £181,600 over a 25 year term. Reverts to SVR after initial 62 month period, costing £943.47 per month for 238 months. Total amount payable is £274,230.94 including interest and fees. True cost based on a 60 month period. This deal is semi-exclusive to Trussle. This deal was last updated on 1st March 2019.
Standard Variable Rate
4.24%
Standard Variable Rate (SVR)
Details
This rate was last updated on 1st March 2019.
NatWest's best mortgage deals
The following NatWest mortgage deals are based on securing a mortgage of £181,600 on a £227,000 property (that's 80% loan-to-value) over a 25 year term.
We’ve searched for the most competitive deals according to true-cost. This includes capital and interest repayments, fees, and incentives due over the initial period of the deal, and is a more effective way of comparing deals than looking for the lowest interest rate deal.
First-time buyer
£18,701.56
True cost over initial period
£746.94
Monthly payment
Details
Includes £1,025 upfront fee. 1.74% initial rate reverts to 4.24% SVR after initial 26 month period, costing £962.63 per month for 274 months. Total amount payable is £284,206.06 including interest and fees. That’s a 3.90% APRC. True cost based on a 24 month period. This deal is semi-exclusive to Trussle. This deal was last updated on 1st March 2019.
Remortgage
£18,785.08
True cost over initial period
£750.42
Monthly payment
Details
Includes £1,025 upfront fee. 1.78% initial rate reverts to 4.24% SVR after initial 26 month period, costing £962.99 per month for 274 months. Total amount payable is £284,395.18 including interest and fees. That’s a 3.90% APRC. True cost based on a 24 month period. This deal is semi-exclusive to Trussle. This deal was last updated on 1st March 2019.
Getting a NatWest mortgage
You can get a NatWest mortgage either directly from them or from a mortgage broker.
If you’re a first time buyer, check out our guide to find out how the process works.
NatWest mortgage in principle
The first step is to get a mortgage in principle. Having one will show that you can afford to buy a property up to a certain value.
You can get a free mortgage in principle from Trussle.
NatWest mortgage offers
How long your mortgage offer lasts depends on your circumstances.
If you’re a first time buyer or buying a new build, NatWest will need you to complete your purchase within 6 months.
If you’re remortgaging or moving to a home that is not a new build, the offer will be valid for 3 months.
What happens on completion
Your mortgage funds should be available on the completion date. Once you’ve agreed your completion date, it’s up to your solicitor to tell NatWest.
Once they’ve done this, NatWest will arrange to release the funds on that date. This should mean there should not be any delays in moving in.
When your NatWest fixed rate mortgage deal ends
When your deal ends, you’ll need to switch over to a new mortgage. NatWest will write to you and tell you your options.
A new fixed rate deal could be better for you than continuing on NatWest’s standard variable rate.
NatWest mortgage payments
First NatWest mortgage payment
NatWest doesn’t have a standard first payment date.
They’ll include the key information about your first payment (including when it needs to be paid, and how much it will be) in your welcome letter.
You can request to change your first payment date by calling the NatWest team.
NatWest overpayments
If you’re on a fixed rate mortgage, you can pay off 10% of your outstanding balance in any year. This is without having to pay an extra charge.
If you’re on a standard variable rate mortgage, you can overpay as much as you like.
Borrowing more
You can borrow up to 90% of the value of your home with NatWest if you meet their criteria.
You’ll need to speak to NatWest to find out about borrowing more.
If you’re struggling to pay your mortgage you might be able to discuss a payment holiday with NatWest. This will depend on the terms and conditions of your mortgage. A NatWest adviser can talk you through the options.
Insurance
You need buildings insurance for the full term of your mortgage. This covers repairs to your property’s structure and any fixtures and fittings.
Getting life insurance or contents insurance is up to you.
Get a mortgage with Trussle today
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Your home could be repossessed if you don't keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
What people are saying about Trussle...
Sources
Deal and rate data was sourced by Trussle. All other information was sourced from NatWest’s own website, unless referenced below.