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NatWest Mortgages Reviewed

The NatWest Group (The second biggest UK mortgage lender)
NatWest is an award-winning mortgage lender offering mortgages to first-time buyers, home movers, landlords, and customers wanting to remortgage.
In this guide:
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    If you’re currently looking for a mortgage, it might be that NatWest one of the Best Mortgage Lenders UK is the right lender for you.

    We will take a closer look at NatWest mortgages in this guide so keep reading to learn more and then get in touch with our team for up-to-date information on the mortgage deals that this popular high street bank is offering.

    About NatWest

    NatWest is a bank and one of the best UK mortgage lenders that is found on most high streets around the UK. It was established in 1968 by the merger of Westminster Bank and National Provincial Bank and officially started trading on January 1st, 1970.

    In 2000, NatWest became part of The Royal Bank of Scotland Group which was later renamed the NatWest Group in 2020.

    As well as the Royal Bank of Scotland, other brands associated with the NatWest Group include Ulster Bank, Isle of Man Bank, as well as Coutts the bank the Royal family uses.

    Today, the NatWest Group serves around 19 million customers and it offers a range of mortgage types to residential and buy-to-let borrowers. These include ‘green mortgages,’ which come with a reduced mortgage rate over a fixed term for those remortgaging or purchasing an energy-efficient home with an EPC rating of A or B.

    Compare NatWest mortgages

    NatWest offers the following mortgage types to eligible customers.

    Mortgages are available to home movers, first-time buyers looking to get on the property ladder, and existing mortgage owners wanting to switch to a better deal.

    The mortgage types NatWest offers include:

    Fixed-rate mortgages

    With a fixed-rate mortgage, the interest rate on your loan will be fixed for the length of your introductory deal (between 2-5 years). After this time, you will fall onto NatWest’s standard variable rate unless you remortgage to a new deal.

    A fixed mortgage is a good idea if you want the peace of mind that the repayments on your mortgage won’t change during the introductory period.

    Tracker rate mortgages

    With a tracker-rate mortgage, the interest rate on your loan will rise and fall in line with National Westminster Bank Plc’s base rate.

    If the interest rate drops, your mortgage payments will also drop. But if the rate rises, your monthly repayments will be higher and the total cost of your loan will increase.

    Your home or property may be repossessed if you can’t afford to pay your mortgage, so keep this in mind when considering tracker mortgages.

    Cashback mortgages

    First-time buyers who choose from NatWest’s ‘first-time buyer exclusive range,’ will be given a lump sum of cash on the day they draw down their mortgage.

    The amount of cashback you receive will be dependent on the mortgage that you have applied for. Currently, eligible customers can receive between £150 – £1000 as a lump sum.

    90% LTV mortgages

    NatWest offers a range of LTV mortgage deals, including home loans with a loan-to-value of 90%.

    With a 90% LTV mortgage, the lender will let you borrow 90% of the property value provided you put down a 10% deposit.

    In the case of a house costing £200,000, for example, your 10% down payment would equate to £20,000 and your loan from NatWest would be £180,000.

    NatWest offers 91-95% LTV mortgages too, so if you can’t afford a 10% deposit, you may be eligible for a higher LTV with a lower down payment. Be aware that higher LTV deals come with higher interest rates so your total loan amount will increase.

    If you want to make money from renting out properties, you may be eligible for one of NatWest’s fixed buy-to-let mortgages that are offered on either a repayment basis (capital and interest together) or an interest-only basis.

    To be eligible for one of NatWest’s buy-to-let mortgages, you will need to be over 18 years of age, have a deposit of at least 25% (or 35% if buying a flat or new build house), and be looking for a property that is worth at least £50,000. Other eligibility requirements will also apply.

    Not all property investments are eligible for a loan. Currently, NatWest doesn’t offer buy-to-let mortgages on multiple tenancies, Homes of Multiple Occupancy (HMO), bedsits, holiday lets, ‘Related Person’ tenancies, or properties that are under a selective licensing scheme.

    Loan-to-value (LTV) is the percentage of the property value that is covered by your mortgage. The maximum LTV offered by NatWest is 95%.

    In the case of a 95% LTV mortgage, you could buy a property with a 5% deposit and a loan from NatWest that covers 95% of the property’s price.

    Example: For a property costing £200,000 and a mortgage with a loan to value of 95%, NatWest will lend you £190,000 if you can put down the £10,000 deposit.

    • Mortgage Loan: £190,000 = 95%
    • Deposit: £10,000 = 5%

    Our expert remortgage advisors have written a very helpful guide on the process of a Natwest Remortgage.

    At the time of writing (Feb 2023), NatWest has slashed some of its mortgage interest rates, which is good news for borrowers. But is the bank offering the best deal? There are many other lenders on the mortgage market, so before you borrow money, it’s wise to consider all of your options.

    At YesCanDo Money, our experienced team of advisors can compare NatWest’s mortgage deals with the products being offered by other mortgage providers, and give you up-to-date information on the best deal based on your personal circumstances.

    We can also advise you on the steps you need to take to be eligible for the lowest mortgage rates, to ensure your level of borrowing doesn’t exceed what you can afford to pay after you have been given your mortgage offer.

    Contact us to learn more and benefit from all the advice and support we offer as a Fee Free broker.

    In March 2023, NatWest Bank introduced a new mortgage policy which will enable customers with fixed rate or tracker mortgages to save money by making up to 20% additional payments without incurring any early repayment charges.

    Read our guide on the NatWest mortgage overpayment increase.

    A NatWest Mortgage Switch, also know as a product transfer allows existing mortgage customers to switch to a new deal within NatWest’s range. This service is available for those on a standard variable rate or within 6 months of their fixed or discounted rate expiry. The process involves checking eligibility, submitting a transfer request, and accepting a new deal. Benefits include no further income or affordability assessments, a wide range of deals, and the same rates whether applying directly or through a broker. This makes the transfer process quicker, simpler, and potentially more beneficial for customers.

    Is NatWest a good mortgage lender?

    When looking at the surveys carried out by Which?, we see that NatWest regularly offers competitive mortgage deals, so in this regard, it could be considered a good mortgage lender.

    However, customers with a TrustPilot account have rated the company pretty badly with ‘poor customer service’ being the biggest complaint featured in reviews.

    That being said, the reviews on the site relate to NatWest as a whole so they aren’t necessarily indicative of the quality of the bank as a mortgage lender.

    Go online and check out a range of review sites to discover how ‘good’ NatWest is and then speak to our team, as we can tell you which lenders can be considered ‘best’ for your particular circumstances.

    top mortgage lenders UK market 2022

    If you want to borrow from Natwest, you can fill out their mortgage application form online, contact the bank by phone or by visiting their branch, or use the services of the YesCanDo team who will complete the form on your behalf.

    It doesn’t take long to fill out the application form but you shouldn’t rush through it as mistakes can result in delays or mortgage rejection.

    After NatWest has received the form, the underwriting process will begin. This can take around 2 weeks although the actual amount of time taken will depend on the complexity of your circumstances and how busy NatWest is.

    To reduce the amount of time your application takes, you should:

    • Gather your supporting documents early

    • Make sure your application is free of errors

    • Use the services of one of our mortgage advisors who will complete your form on your behalf and chase up NatWest for updates

    As is the case with most banks and building societies, NatWest will use an income multiple when determining how much you can afford to borrow.

    In certain circumstances, NatWest may be willing to lend you up to 5 x your income, or even 5.5 x your income if you’re a high earner earning over £75,000 a year.

    The actual borrowing amount NatWest offer won’t only be based on a multiple of your salary. The lender will also factor in the following when considering how much to lend to you.

    • credit history

    • age

    • deposit size

    • debts

    • regular outgoings

    Mortgage Advisor - Claire

    Why I love NatWest mortgages

    Claire (YesCanDo Mortgage Adviser)
    I am a mortgage advisor that works with NatWest on a weekly basis. Having worked for NatWest directly in the past, I have 20 years of knowedge of their mortgage products and services. I can confidently say that they offer excellent affordability and sustainability of their loan products. Not only do they lend up to age 75 - higher than many other lenders in the market - but also treat CIS workers as employed which is highly beneficial. Additionally, discount credit commitments are available if repayment takes place, helping borrowers manage finances more efficiently. All in all, those who desire a lender with a great reputation and brilliant lending policies should certainly consider NatWest!

    NatWest Mortgage Calculator

    Need help figuring out your mortgage payments or your affordability? No problem! Our two simple and easy-to-use mortgage calculators can give you a precise estimate in no time.

    Frequently Asked Questions

    You can expect to wait between 2-6 weeks to get your mortgage approved after you have completed your application.

    Once approved, you will be given a mortgage offer with details of how much NatWest is willing to lend to you. This will be valid for 6 months if you’re a first-time buyer or 3 months if you’re moving home or want to remortgage. You will need to complete your property purchase within these time frames. If you don’t, your offer will expire (unless you can get an extension), and you will have to reapply for a mortgage.

    NatWest will only let you borrow money if they don’t perceive you as a financial risk. If they think you will struggle to keep up repayments on your mortgage, your application will likely be rejected.

    NatWest might be concerned about your ability to keep up repayments on your mortgage if…

    • You have bad credit

    • You have a fluctuating income

    • You don’t have job security

    You might also be refused a mortgage from NatWest if…

    • You don’t have enough money for a deposit

    • You have recently started a new job

    • There are issues with the property you want to buy

    • You exceed the maximum age (75) NatWest has set for its borrowers

    If you are rejected by NatWest or if you don’t think you will pass their checks, you might still be eligible for a mortgage deal from another lender.

    Should you choose to get a mortgage with us, we will search the market for the lenders that are right for your particular situation.

    The underwriting process takes place after you have completed your mortgage application.

    This is when NatWest will determine your suitability for a mortgage by checking your suitability for a mortgage.

    In some cases, it can take up to 2 weeks to complete this process but if there are any issues, such as missing or incorrect information, or if the lender is busy, it could take longer.

    Depending on the type of product you have with NatWest, you may be able to overpay by up to 10% of your existing mortgage balance each year. If you exceed the set limit, you may be subjected to NatWest’s early repayment charge.

    To find out what your overpayment limit is, you can contact NatWest directly, sign into your online banking account, or check your account paperwork for information on your overpayment limit.

    According to NatWest, almost all of their mortgages are portable so if you are happy with the interest rates on your existing mortgage balance, you may be able to port your mortgage by applying for a new loan with the same terms.

    Porting your mortgage can be advised if you are part your way through your deal and want to avoid an early repayment charge. If can also be advised if you are on a good deal with a low-interest rate.

    However, speak to our team before you make a decision. If you can save money with a new lender, it might be worth remortgaging instead. Call us or contact us online and we will compare NatWest’s interest rates with those offered by different lenders.

    Yes, as is the case with all lenders there will be fees to pay when taking out a mortgage. These include the valuation fee and the product fee.

    However, it’s possible to avoid the valuation fee if you take out a NatWest mortgage that has been marked with ‘Free standard valuation.’

    When it comes to the product fee, you can pay this upfront or add it to the full amount of your mortgage.

    Contact NatWest or check their website to learn about all of their fees and the costs attributed to them.

    Fee Free Mortgage Advisor Team

    NatWest Mortgage Advisors

    We offer FREE dedicated support fthroughout out the mortgage process, we have full-market access to the best mortgage rates & deals. We do everything for you, for free!


    Let us know what the best time is for us to call you. We will get one of our mortgage advisors will be in touch to talk through your situation and available options.

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    Grant Humphries (CeMAP)
    Grant Humphries (CeMAP)

    Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape

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