NatWest mortgage lender review

The first step of the application process it to get a Mortgage in Principle (otherwise known as a Decision in Principle or Agreement in Principle). Having one shows that, in principle, you’ve got the financial means to buy a property up to a certain value.

Trussle can provide you with a free Mortgage in Principle quickly.

After you’ve paid the valuation fee, NatWest will arrange for the valuer to contact the seller (usually within 48 hours) in order to arrange a suitable date and time to carry out the valuation.

NatWest typically receive valuations back within five working days of them being carried out. Providing they’re happy with its details, they’ll produce a mortgage offer within 48 hours.

This varies depending on your circumstances. If you’re a first-time buyer or if you’re buying a new-build home, NatWest will require you to complete your property purchase within six months. If you’re remortgaging or moving to a home that isn’t a new-build, the offer will be valid for three months.

Your mortgage funds should be released on the completion date. Once you’ve confirmed a completion date with your solicitor and the seller of your chosen property, it’s up to your solicitor to inform NatWest.

NatWest will then arrange to release the funds on that date, meaning that there shouldn’t be any delays moving in.

Yes. Once you’ve confirmed a completion date with your solicitor and the seller of your chosen property, it’s up to your solicitor to inform NatWest.

NatWest will then arrange to release the funds on that date, meaning that there shouldn’t be any delays moving in.

NatWest doesn’t have a standard first payment date. Instead, 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.

Yes, depending on the mortgage rate you’re on.

Anyone on a tracker or fixed-rate mortgage will be able to pay off 10% of their outstanding balance in any given year without incurring an Early Repayment Charge. Anyone on a Standard Variable Rate (SVR) mortgage can overpay as much as they like.

If you’re considering a NatWest mortgage, check the terms to see what your limit is.

You’ll need to switch over to a new mortgage. NatWest will write to you and let you know what your options are.

You might be able to get a new fixed rate deal with more favourable terms than drifting onto NatWest’s Standard Variable Rate (SVR).

NatWest only requires buildings insurance, which you’ll need for the full term of your mortgage. Buildings insurance covers repairs to your property’s structure, as well as any fixtures and fittings. Many mortgage providers require this level of protection.

Whether you choose to get life insurance or contents insurance as well is up to you.

Yes, once you’ve registered for internet banking and logged in. After that’s done, you’ll be able to:

• manage and plan overpayments

• amend your payment details

• manage your direct debit

• switch rates, if there’s one available to you

• view your balance

• see your monthly payments

With NatWest, you could borrow up to 90% of the value of your home if you meet their criteria. NatWest might also be able to help you with additional borrowing for other purposes, but you’ll need to speak with them directly first.

With an interest only mortgage, your monthly payments only cover the loan’s interest. You’ll still have to pay back the full amount when it expires.

It is possible to switch to an interest only mortgage, but there are a number of things to consider first. And you’ll need to demonstrate that you have a viable strategy in place for paying off the balance when your mortgage deal ends. This is known as a repayment vehicle.

Your eligibility for a payment holiday with NatWest will depend on the T&Cs of your mortgage. To discuss payment holidays in more detail, get in touch with NatWest - an adviser will listen and talk you through the options available.

No, NatWest doesn’t currently offer shared ownership mortgages.

Yes they did, but concerns over its mis-selling have led to major changes in the way Payment Protection Insurance, or PPI, can be sold. You’ll now not receive PPI unless you specifically agree to it.

PPI is designed to cover loan repayments if you’re unable to make them because of unemployment, accident, or sickness. It also applies to credit cards and other forms of loan.

If you want to speak with a Natwest mortgage adviser, you can do so on 0800 096 9527. Their lines are open Mon-Fri 8am-8pm, Sat 9am-4pm and Sun 9am-4pm, excluding public holidays. Alternatively you can visit your local NatWest branch.