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How long does it take to remortgage with NatWest?

Timing your home remortgage precisely is really important. If you wait too late you could fall onto the standard variable rate which could cost you a lot of money. The average time for a NatWest remortgage is 8 weeks.

In this guide, we will look at remortgaging with NatWest, their timescales and your overall mortgage renewal options.

The time it takes to remortgage will differ on a case-by-case basis, depending on a number of factors. We explain the perfect timeline for your remortgage with NatWest as well as few tricks to avoid paying too much and to help speed up the mortgage process.

Remortgage at the right time to avoid fees

Remember, if you decide to switch mortgage early, you may have to pay the early repayment charges set by your mortgage lender. However, if you leave it too late, you will fall onto your lender’s standard variable rate (SVR) at the end of your mortgage term, and your monthly payments will be higher.

As such, it is wise to consider the start of your remortgage journey around 3 months – 5 months before your existing deal is up. This way, you should be able to move onto your new mortgage just as your current deal ends.

You have the choice of different lenders when remortgaging, one of whom is the Natwest.

If Natwest is the mortgage lender you are considering for your next fixed rate deal, keep reading to learn more.

Find out whether NatWest has the best remortgage deal for you

We have decades of experience arranging mortgages with NatWest and its been our observation that a remortgage with NatWest can be sped up by knowing their criteria and providing the correct information NatWest will need to be submitted at the same time as the mortgage application. Our mortgage advisors have evidence that 2 weeks can be saved on a Natwest remortgage by it being submitted correctly. – Stephen Roberts

How to complete a NatWest Remortgage

If you want to remortgage with NatWest, you can do this by visiting their website. Using the tools available, you can get a quote for your next rate within minutes. If you like what you see, you can apply online for your new mortgage.

Alternatively, you can arrange to speak with a Natwest adviser. They will discuss the mortgage deals they have available and will answer any questions you have about changing to new mortgage rates.

Before you apply for a new mortgage, Natwest will give you an Agreement in principle.

An Agreement In Principle is an indication of how much the lender will be willing to lend to you if you pass their affordability checks.

If you’re not happy with this agreement, you could approach another lender. If you are happy with the agreement, you will need to gather the paperwork needed before making your application.

Please note: While you may find some favourable Natwest mortgage deals, they may not be the best deals for your personal circumstances. Get in touch with an adviser at YesCanDo Money and we will compare Natwest’s deals with other mortgage loans on the market.

When can I remortgage with NatWest mortgages?

You can remortgage with NatWest at any time, provided you have a good reason for doing so.

For example, you might choose to remortgage because…

  • Your existing deal is coming to an end
  • You want to benefit from a better mortgage rate
  • You want to raise money for home improvements
  • You want to benefit from more flexible mortgage terms
  • You need to consolidate your existing debts with a remortgage or a loan that’s secured
  • You are on Natwest’s standard variable rate mortgage

These are some of the reasons why you might want to remortgage with Natwest. To avoid an early repayment charge and to avoid your current lender’s standard variable rate (SVR), you should remortgage around 3 months before your existing deal ends.

Find out whether NatWest has the best remortgage deal for you

How do I know when my existing NatWest mortgage deal ends?

If you already have a mortgage with NatWest and you want to stick with them or move to a new lender, you can check to see how long you have left on your existing deal by looking at your annual mortgage statement or the paperwork detailing your mortgage offer.

View your deals end date online

There is also an option on the Natwest website – ‘Manage my Mortgage’ – where you can get details of your mortgage, including the outstanding balance and the original mortgage offer with the end date. This is also the best time to check when your early repayment charges end.

How long before my fixed rate ends can I remortgage NatWest?

According to the NatWest website, they will write to you approximately 3.5 months before your existing deal ends. This is the time when they consider you eligible for switching mortgages.

This is assuming you are with Natwest already. If you want to remortgage to them from another lender, you may be able to begin the remortgaging process earlier.

If you are with Nat West and you want to remortgage before you are eligible, you need to contact their NatWest, Royal Bank of Scotland Mortgages Team for more advice. Be aware that there may be an early repayment charge if you do decide to break your fixed term before you’re eligible to do so.

Does NatWest use mortgage affordability calculators?

Yes. Natwest will use a mortgage affordability calculator to determine how much they are willing to lend to you. You can also use their online calculators yourself if you want to see how much you may be able to borrow.

Does NatWest have the best interest rate?

Natwest offers competitive fixed rate mortgages but that doesn’t mean they have the best interest rate. For an up-to-date figure, you need to check their website and then compare the information you find with that given by other lenders.

The interest rate you are offered will depend on your financial circumstances so you might not be eligible for the best rate advertised. NatWest will initially carry out a soft credit check and later a full credit check against your credit file before determining the rate they offer you.

Compare the mortgage market

But as there are over 90 different mortgage lenders in the UK and over 14,000 different interest rates and deals, you don’t have to settle on Natwest if you aren’t happy with their interest rate.

We have the tools available to compare deals quickly and have experienced advisers available to guide you on the best mortgage deal for somebody in your circumstances. If National Westminster Bank plc does offer the best interest rate, we will let you know.

Is there an easy way to remortgage?

Remortgaging isn’t always a straightforward process as lenders will check your credit history and commit to other financial checks before they agree to a remortgage deal.

If they don’t think you will be able to keep up repayments on your mortgage, you may be turned down. This is called affordability and it is calculated slightly differently from lender to lender.

Find out whether NatWest has the best remortgage deal for you

Get help from a broker

Remorgaging can be stressful but it doesn’t need to be, this is why we recommend our services to you. Whether you’re considering NatWest mortgages or loan deals outside of the NatWest group, we are here for you.

We will advise you on what you need to do to improve your chances of mortgage approval and will compare the market on your behalf.

If NatWest does offer the best loan-to-value (LTV) mortgage deal, we will help you with the NatWest mortgage application and will liaise with them throughout the remortgage process.

Introducing the Fee-Free mortgage broker

A broker’s job is to find you the mortgage deal with the most affordable interest rate so you can benefit from lower monthly payments.

We’re a fee-free broker

Some brokers charge a broker fee. However, we do not! YesCanDo Money is a FEE-FREE mortgage broker, so not only will we save you money by finding you the right mortgage, but we will also reduce your expenses by not charging you a penny for our services.

Mortgage Renewal Advisers

Search for an Independent Fee-Free Mortgage Broker

The best way to search for an independent NO-FEE broker is to use Google.

However, as you are already on our website, why not give us a try? We have our finger on the mortgage market so we know exactly where to find the lowest rates.

Make sure you get a highly rated mortgage advisor

Don’t settle for second best! To make sure you get a really good broker, check out their ratings and reviews. After all, if you want the very best deal with the lowest monthly payments, you should turn to the people who have already proven their ability to find fantastic deals for their customers.

Again, we recommend our services to you. YesCanDo is a UK top ten highly-rated brokers and you can check our reviews and ratings here.

Use YesCanDo Money

One of the UK’s leading fee-free, independent & highest-rated mortgage brokers

YesCanDo Money is a family-run independent broker that do not charge for their services.

Our expert team of mortgage advisers is here to help you so get in touch with us if you would like to benefit from the best advice and deals.

Get The Best Remortgage Deal

We will carry out multiple searches into the mortgage market and we will then produce a mortgage illustration. If NatWest is the best lender for you, we will make sure you get the very best NatWest deal available.

Get lower repayments on your mortgage

If lower repayments are important to you, you should be open to switching lenders. We look at the whole market to list the best lenders available to you for both the lowest fee, lowest monthly payments and the overall value of the best available product deal to you.

We Organise The Mortgage Application

At YesCanDo Money, we do everything mortgage-related for you, we will apply online for your mortgage application. We will complete all the paperwork for you and will make sure your application is the best it can be to improve your chances of getting the best NatWest mortgage offers.

If you ever decide to move and sell your home, we will also liaise with your estate agents, solicitor, and other relevant parties to make the whole process as easy as possible for you.

To learn more about the extensive range of services that we offer, you can contact us here >

Here are our further remortgage guides for other lenders.

Request a call back from one of our mortgage advisers, remember our services are always FEE-FREE!

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Steve Roberts
Steve Roberts

Stephen Roberts MAQ is the founder of YesCanDo Money, one of the UK's largest no-fee mortgage brokers. With over 30 years of mortgage experience, he has advised and helped thousands of first-time buyers buy their first home and home movers buy their dream home. Speak to a mortgage expert today by completing our contact form:

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