NatWest Mortgage Switch
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This will cover everything you need to know about switching your mortgage deal, current NatWest product transfer rates for existing customers and how a mortgage broker can help. Contact us for free mortgage advice and support.
Why stick with NatWest?
Early Rate Lock: You can lock in a new Natwest mortgage rate up to six months before your current deal ends.
Quick Processing: No additional underwriting for standalone product transfers.
Flexible Options: You can change the product and mortgage payments before completion.
Additional Borrowing: You can apply for additional borrowing simultaneously (subject to underwriting).
- A TREE PLANTED FOR EVERY MORTGAGE
NatWest Product Transfer Eligibility
To be eligible for a NatWest product transfer, you must meet the following criteria:
Customer Type: Available for residential and Buy to Let customers.
Roll-Off Period: This must be within six months before the current Natwest mortgage deal end date.
Current Rate: This applies if you are on a standard variable rate (SVR) or within the track and switch eligibility period on a tracker rate.
Loan Amount: The minimum loan amount to secure a new rate is £10,000.
Term Remaining: There must be more than 27 months remaining on your mortgage term at the date of applying for the product switch (the end date of the new product must be before the mortgage end date).
NatWest Product Transfer Rates for Existing Customers
NatWest mortgage customers can get various fixed-rate mortgage options for different loan-to-value ratios. Below are the current residential NatWest product transfer rates for existing customers as of 18th July 2024.
NatWest Mortgage Rates for Existing Customers – 60% loan to value
NatWest existing customer rates for mortgages as of 13th August 2024
| Type | Rate | Until | Fee | LTV |
|---|---|---|---|---|
| 2 Year Fixed | 4.61% | 30/11/26 | £995 | 60% |
| 2 Year Fixed | 4.71% | 30/11/26 | £495 | 60% |
| 2 Year Fixed | 4.94% | 30/11/26 | £0 | 60% |
| 5 Year Fixed | 4.21% | 30/11/29 | £995 | 60% |
| 5 Year Fixed | 4.26% | 30/11/29 | £495 | 60% |
| 5 Year Fixed | 4.38% | 30/11/29 | £0 | 60% |
| 2 Year Tracker | 5.49% | 30/11/26 | £995 | 60% |
| 2 Year Tracker | 5.93% | 30/11/26 | £0 | 60% |
NatWest Mortgage Rates for Existing Customers – 75% loan to value
NatWest existing customer rates for mortgages as of 13th August 2024
| Type | Rate | Until | Fee | LTV |
|---|---|---|---|---|
| 2 Year Fixed | 4.94% | 30/11/26 | £995 | 75% |
| 2 Year Fixed | 5.29% | 30/11/26 | £0 | 75% |
| 5 Year Fixed | 4.64% | 30/11/29 | £995 | 75% |
| 5 Year Fixed | 4.84% | 30/11/29 | £0 | 75% |
| 2 Year Tracker | 5.89% | 30/11/26 | £995 | 75% |
| 2 Year Tracker | 6.18% | 30/11/26 | £0 | 75% |
NatWest Mortgage Rates for Existing Customers – 80% loan to value
NatWest existing customer rates for mortgages as of 13th August 2024
| Type | Rate | Until | Fee | LTV |
|---|---|---|---|---|
| 2 Year Fixed | 5.49% | 30/11/26 | £995 | 80% |
| 2 Year Fixed | 5.89% | 30/11/26 | £0 | 80% |
| 5 Year Fixed | 4.98% | 30/11/29 | £995 | 80% |
| 5 Year Fixed | 5.21% | 30/11/29 | £0 | 80% |
| 2 Year Tracker | 5.69% | 30/11/26 | £995 | 80% |
| 2 Year Tracker | 6.04% | 30/11/26 | £0 | 80% |
NatWest Mortgage Rates for Existing Customers – 85% loan to value
NatWest existing customer rates for mortgages as of 13th August 2024
| Type | Rate | Until | Fee | LTV |
|---|---|---|---|---|
| 2 Year Fixed | 5.77% | 30/11/26 | £995 | 85% |
| 2 Year Fixed | 5.93% | 30/11/26 | £0 | 85% |
| 5 Year Fixed | 4.98% | 30/11/29 | £995 | 85% |
| 5 Year Fixed | 5.23% | 30/11/29 | £0 | 85% |
| 2 Year Tracker | 5.74% | 30/11/26 | £995 | 85% |
| 2 Year Tracker | 6.09% | 30/11/26 | £0 | 85% |
NatWest Mortgage Rates for Existing Customer Buy to Let Mortgages
Below are NatWest mortgage rates for existing Buy to Let customers as of 13th August 2024, for loan-to-value ratios ranging from 60% to 75%.
| Type | Rate | Until | Fee | LTV |
|---|---|---|---|---|
| 2 Year Fixed | 4.74% | 30/11/26 | £995 | 60% |
| 2 Year Fixed | 5.14% | 30/11/26 | £0 | 60% |
| 5 Year Fixed | 4.39% | 30/11/29 | £995 | 60% |
| 5 Year Fixed | 4.59% | 30/11/29 | £0 | 60% |
| 2 Year Fixed | 4.99% | 30/11/26 | £995 | 75% |
| 2 Year Fixed | 5.39% | 30/11/26 | £0 | 75% |
| 5 Year Fixed | 4.59% | 30/11/29 | £995 | 75% |
| 5 Year Fixed | 4.84% | 30/11/29 | £0 | 75% |
When can I complete a product transfer for a new mortgage deal with NatWest?
Following the policy change on 5th December 2022, NatWest customers can now choose and fix a new NatWest Product Transfer rate up to 6 months before their current product ends. If your current rate ends on 31st December, you can choose a new rate from 1st July. However, it’s important not to start a new rate before your current rate ends to avoid early repayment charges.
Things to Consider
When transferring with NatWest, there are a few things to think about:
The Product Fee: This can be paid upfront or added to your mortgage. While the Natwest mortgage rate on fee-charged products is lower than those with no product fee, you need to consider whether saving on interest with a fee-paid product is worth the cost.
The New Rate: Evaluate the new interest rate and how it compares to your current rate and monthly payments.
The Term of the New Rate: Consider the length of the new mortgage rate term and how it fits with your financial plans.
Early Repayment Charges: If you decide to switch before your current fixed-rate deal ends, be aware of any early repayment charges.
Carefully considering these factors can help you choose the best product transfer option.
NatWest Early Repayment Charge Table
When completing a product transfer, discussing early repayment charges with your broker or lender is crucial. Often, it’s advisable to wait until your fixed-rate deal ends before switching mortgage rates to avoid potential fees.
NatWest early repayment charges current as of 19th August 2024.
| Product Term | Period | Charges | End Date |
|---|---|---|---|
| 2 year Fixed | 1 | 1.5% until 30/11/25 | 30/11/26 |
| 2 year Fixed | 2 | 0.75% until 30/11/26 | 30/11/26 |
| 5 year Fixed | 1 | 4.5% until 30/11/25 | 30/11/29 |
| 5 year Fixed | 2 | 4.25% until 30/11/26 | 30/11/29 |
| 5 year Fixed | 3 | 4.0% until 30/11/27 | 30/11/29 |
| 5 year Fixed | 4 | 2.5% until 30/11/28 | 30/11/29 |
| 5 year Fixed | 5 | 1% until 30/11/29 | 30/11/29 |
| 2 year tracker | 1 | 0.5% until 30/11/25 | 30/11/26 |
| 2 year tracker | 2 | 0.25% until 30/11/26 | 30/11/26 |
NatWest Mortgage Product Transfer – The Process
Did you know switching rates with a NatWest product transfer can be completed on the same day?
Contact Our Team: Call us or use our secure online NatWest application form.
Review Options: We will check your NatWest Mortgage Product options and email you a full list on a single sheet.
Get Expert Help: Our experienced team is available to help you decide on your best option.
Request Mortgage Offer: Once you have decided, our mortgage team will request a mortgage offer based on the new rate and any additional borrowing.
Approve Offer Online: You will receive an email with a link to approve your offer online.
Benefits of NatWest Mortgage Product Transfer
Secure a Rate Up to 6 Months Early: Lock in your new mortgage rate well in advance.
No Broker Fees: Benefit from our services without any extra costs.
Same-Day Service: Enjoy efficient, same-day processing for your transfer.
Paperless Process: Complete your transfer without any paperwork.
No Valuations Needed: Save time with no need for property valuations.
No Credit Scoring: Transfer your mortgage without affecting your credit score.
Note: Further advances, term changes, home moves, and removal of a borrower will still require standard underwriting.
Use a Mortgage Broker for your NatWest Product Transfer
A mortgage broker can be a godsend when switching your rate. They’ll give you expert advice, explain the options and guide you through the switch.
At YesCanDo Money, we offer free, full-service mortgage broking to help you through the mortgage product transfer process. Our mortgage team will do the paperwork, give you mortgage advice, and get you the best deal—all for free. Our team of experienced brokers will make it as painless as possible, saving you time and hassle.
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Frequently Asked Questions
How do I cancel my NatWest product transfer?
You can cancel a mortgage application anytime before the new rate takes effect. Usually, you can do this online or by calling the existing customer team.
Can you be declined a product transfer mortgage?
Yes, it’s possible. Mortgage lenders may decline your application if you’re making changes to your current mortgage, such as loan amount or term.
Can you change a mortgage product after an offer?
Yes, you can switch to a different deal before completion. You may need to pay any outstanding product and new deal fees.
Can I switch my NatWest mortgage early?
If your current deal ends soon, you can switch to a new one without an early repayment charge. However, timing is crucial—remortgage too early, and you’ll face an early repayment charge. If you’re on the Standard Variable Rate, there’s no charge either.
Can you change mortgage term NatWest?
You can change your mortgage term when switching to a new deal. Discuss this with your mortgage broker or directly with NatWest to explore options.
How long does a mortgage switch take?
The process is usually very quick, almost instantaneous. Get a personalised quote online within 10 minutes; no new credit checks are needed.
What is the grace period for porting mortgages NatWest?
When porting your mortgage with NatWest, the grace period for taking your existing mortgage to a new property is typically within six calendar months of your current mortgage rate's end date (expiry). During this period, you can transfer your mortgage without incurring an Early Repayment Charge (ERC).
Is a remortgage the same as a product transfer?
The term “remortgage” can be used in two ways. It can mean switching your mortgage to a different lender. But it can also mean changing your mortgage deal with your existing lender, which is essentially the same as a product transfer. Both involve switching to a new mortgage product with your existing lender. Both can get you a better rate but are different processes.
What documents do I need for a product transfer?
You won’t need many documents for a product transfer, but it’s a good idea to have your existing mortgage details and ID on hand.
Do I need bank statements for a product transfer?
No, bank statements are not required for a product transfer. But always check with your broker or NatWest to be sure.
How will NatWest Mortgages value my property for a product transfer?
The mortgage products available to you from NatWest depend on your loan-to-value ratio, which is the difference between your mortgage's outstanding balance and your property value.
NatWest will use house price index valuations for properties up to £350,000 and 60% LTV. For properties outside these limits, NatWest will use various valuation tools to get an up-to-date value. If further valuation is required, NatWest will pay.
NatWest Product Transfer Form
Product Transfer Form
Please provide us with your mortgage details in the form below. Once we receive your information, one of our fee-free mortgage advisers will be in touch to discuss your mortgage rate switch options. We are here to help you find the best rates and terms tailored to your needs.
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
