NatWest Mortgage Strengths
NatWest is strong for: standard PAYE residential purchases and remortgages; first-time buyers; straightforward home mover cases; competitive tracker and fixed-rate products at standard LTV bands; and existing NatWest current account holders for whom the relationship is a factor. NatWest also has a Premier mortgage range for higher-earning borrowers within its standard criteria.
- Standard PAYE residential purchases and remortgages
- First-time buyers
- Straightforward home mover cases
- Competitive tracker and fixed-rate products at standard LTV bands
- Existing NatWest current account holders where the relationship is a factor
- Premier mortgage range for higher-earning borrowers within standard criteria
Where NatWest's Criteria Create Issues
NatWest's standardised underwriting creates problems for: self-employed borrowers with growing income (NatWest averages two years, penalising upward trends); complex income including carried interest, RSUs, and multi-currency earnings; adverse credit where NatWest is firmly a clean-credit lender; non-standard property types; portfolio landlords; large loans above NatWest's appetite; and HMO mortgages which NatWest does not actively underwrite.
- Self-employed borrowers with growing income, as NatWest averages two years and penalises upward trends
- Complex income including carried interest, RSUs, and multi-currency earnings
- Adverse credit, where NatWest is firmly a clean-credit lender
- Non-standard property types
- Portfolio landlords
- Large loans above NatWest's appetite
- HMO mortgages, which NatWest does not actively underwrite
NatWest vs Specialist Lenders
Specialist lenders frequently offer: higher income multiples for complex earners; acceptance where NatWest declines; better rates for specific LTV bands; more flexible underwriting for non-standard properties; and specialist products for HMO, portfolio, and Ltd Co BTL mortgages that NatWest does not offer.
- Higher income multiples for complex earners
- Acceptance where NatWest declines
- Better rates for specific LTV bands
- More flexible underwriting for non-standard properties
- Specialist products for HMO, portfolio, and Ltd Co BTL mortgages that NatWest does not offer
Remortgage Timing and NatWest Product Transfers
At the end of a NatWest fixed-rate mortgage, the bank will offer a product transfer to a new rate - a convenient option that avoids legal fees. However, this internal rate should always be benchmarked against the whole market. Switching to a specialist lender on remortgage can sometimes save significantly more than the retention rate.