PROMOTION
Find the right mortgage deal
NerdWallet has partnered with L&C, the UK’s leading fee free mortgage broker. They’ll search 1000s of deals to find you the right mortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
NatWest Mortgage Review
NatWest offers mortgage options to first-time buyers, homemovers and those remortgaging. Learn more in our NatWest mortgage review.
NatWest mortgages: at a glance
NatWest offers capital repayment and interest-only mortgages, and a range of mortgages which includes fixed and tracker rate options. NatWest mortgages can be taken out for a term of up to 40 years, and applied for online, over the phone, or in a NatWest branch.
NatWest Mortgages
3 to 40 years
£25,000
Capital & Interest; and Interest Only
Yes
Yes
This mortgage provider is available via our partner, London & Country Mortgages.
Think carefully before taking out any mortgage. Your home may be repossessed if you do not keep up repayments.
The information in this review is correct as at the date the page was last updated. This is our review of a lender and not the products, interest rates, fees or deal terms they offer. Many lenders also offer preferential products exclusively via brokers and intermediaries. This review does not constitute advice or recommendation.
More mortgage lender reviews
Take a look at some of the other mortgage providers we review.
What types of mortgages does NatWest offer?
NatWest first-time buyer mortgages
NatWest first-time buyer mortgages are typically available up to 95% loan-to-value (LTV). This means you may be able to get a NatWest mortgage with a 5% deposit. Some NatWest first-time buyer mortgages may offer cashback as an incentive, though it’s important to consider all aspects of a mortgage, and select the most suitable for your circumstances and needs.
NatWest remortgages
NatWest offers a range of remortgage options if you wish to switch from your current lender. Some NatWest remortgage deals are available without a product fee.
NatWest buy-to-let mortgages
NatWest offers buy-to-let mortgages to new landlords as well as existing landlords looking to remortgage.
» MORE: Best mortgage lenders
NatWest mortgage features
Repayment options
NatWest mortgages are available on a capital repayment or an interest-only basis.
With a repayment mortgage, your monthly repayments cover the interest you’re charged for that month and will also pay off an element of the original mortgage amount, or capital, you borrowed at the outset. As long as every repayment is made on time, it should work out that everything you owe is paid off by the end of your mortgage term.
Interest-only mortgages tend to be harder to obtain and, with NatWest, you’ll need to talk to one of its mortgage advisers if you want to apply – you can’t apply online. With an interest-only mortgage, the monthly repayments only cover the interest for that month and contribute nothing towards paying off your original mortgage amount. Instead, you’ll need a repayment strategy in place that is designed to pay back the loan amount you took out when your mortgage term ends. Note that interest-only mortgages often have lower LTV limits than capital repayment mortgages as well.
» MORE: Interest-only vs. repayment mortgages
Mortgage rates
NatWest offers fixed-rate and tracker rate mortgages. The interest rate you pay on a fixed-rate mortgage is fixed for a set period of time – typically for two or five years. This means your monthly repayments stay the same for the length of the fixed-rate deal you’ve agreed, providing peace of mind that your repayments won’t change during that period.
At the end of your deal, you may want to remortgage to a new deal; if you don’t you’ll automatically move onto NatWest’s standard variable rate (SVR). NatWest has the right to increase and decrease this rate whenever it wants. It will also usually be higher than the rate you’ve just left behind.
With a NatWest tracker mortgage the mortgage rate you pay rises and falls in line with the National Westminster Bank Plc base rate. Unlike many other tracker mortgages, NatWest can change this rate when it wishes, and movements are not guaranteed to reflect changes in the Bank of England base rate of interest. This type of mortgage can see your monthly repayments rise and fall and makes it essential to work out whether you could still afford your monthly repayments if rates were to increase.
» MORE: See best mortgage rates
Loan-to-value ratios
NatWest tends to offer mortgages up to 95% LTV, which means there are mortgage options available if you have a 5% deposit.
» MORE: Why your LTV is important for a mortgage
Mortgage offers
Any mortgage offer you receive from NatWest is valid for six months. During this time, the mortgage rate you’ve been offered will not change.
Making overpayments
If you have a NatWest fixed-rate or tracker mortgage, it may be possible to overpay by up to 20% of your outstanding mortgage balance every year before an early repayment charge must be paid. However, always check the terms and conditions of your mortgage for charges yourself before overpaying your mortgage.
» MORE: Mortgage overpayment calculator
Paying off your mortgage early
It is possible to pay off your NatWest mortgage early, but you may need to pay fees and early repayment charges depending on where you are within your deal period. If you’re considering paying off your mortgage early, you can ask for a redemption statement from NatWest online.
Porting your mortgage
If you’re moving home and would like to take your existing NatWest mortgage with you, many of its mortgages can be ported. It may be possible to port your mortgage without needing to pay early repayment charges, but you should always check with a lender first if any charges will apply.
Mortgage calculators
The NatWest website hosts a selection of mortgage calculators, including an overpayment calculator, borrowing calculator and interest rate change calculator.
» MORE: Our mortgage calculators
This is our review of a lender and not the products, interest rates, fees or deal terms they offer. Many lenders also offer preferential products exclusively via brokers and intermediaries. This review does not constitute advice or recommendation.
Review methodology
Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible, but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability for your financial circumstances.
You can view our full review methodology here.
About the Author
Dive even deeper
Santander Mortgage Rates
Virgin Money Mortgage Rates
