Head of Content
Mortgage Advisor & Director
NatWest
About NatWest Mortgages
NatWest are a well-known high street bank, and are currently the second largest mortgage lender in the UK with a market share of 41.5%.
You can compare the latest mortgage rates for NatWest for free below:
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What type of mortgages do they offer?
They offer a wide range of fixed rate and tracker mortgages, with capital repayment and interest-only options available, with deposit requirements starting at 5% of the property's value.
They specialise in areas including:
What mortgage rates are currently available?
Representative examples of NatWest's mortgage rates at the time of writing (September 2024) include:
- A fixed rate mortgage with an initial interest rate of 3.74% and a variable rate of 7.99%
- A fixed rate mortgage with an initial interest rate of 3.9% and a variable rate of 7.99%
- A fixed rate mortgage with an initial interest rate of 4.12% and a variable rate of 7.99%
- A fixed rate mortgage with an initial interest rate of 4.65% and a variable rate of 7.99%
- A tracker rate mortgage with an initial interest rate of 0.14% above the National Westminster Bank Plc's base rate and a variable rate of 8.24%
Their current standard variable rate is 7.99%.
How much will NatWest let you borrow?
You can borrow between 4 times and 5.5 times your annual salary with NatWest. They will use a different salary multiple depending on your circumstances.
The table below shows how your maximum borrowing can vary with this lender:
Income Multiple |
When NatWest Will Use It |
5.5 times salary |
75% LTV plus income of over £75k or joint applicants earning over £100k combined |
5 times salary |
Below 75% LTV |
4.5 times salary |
70-75% LTV |
4 times salary |
Above 85% LTV or a loan amount of over £500k |
You can use our calculator below to work out how much you could borrow based on these exact income multiples:
What type of buy-to-let mortgages do NatWest offer?
NatWest offer buy-to-let mortgages with deposit requirements starting at 25% of the property's value. Rental income must be at least 125% of the monthly mortgage payments to qualify.
Other criteria includes:
- Age: Landlords must be aged over 18 and have permanent right to reside in the UK.
- Number of mortgaged properties: Must be fewer than four as portfolio mortgages are not available through this lender.
- Property and mortgage values: The minimum property value is £50,000 and landlords must be borrowing at least £25,000. Maximum aggregate borrowing with NatWest brands cannot exceed £3.5 million.
- Term lengths: Terms of between 3 and 35 years are available.
The lender’s buy-to-let range is currently dominated by two and five year fixed-rate mortgages, as well as exclusive remortgage and ‘green’ deals.
Buy-to-let mortgages for specific niche property and tenancies types, namely multiple tenancies, Homes of Multiple Occupancy (HMO), bedsits, ‘Related Person’ tenancies, properties that fall under a selective licensing scheme or properties that will be used as a holiday home or holiday let, will not be approved.
Do they offer bad credit mortgages?
Yes. NatWest can offer bad credit mortgages for borrowers with certain types of adverse, such as debt management plans (discharged), defaults, CCJs, and IVAs (discharged). They may apply conditions to the deal if your credit problems were recent, while the most severe issues such as bankruptcies will need to have been discharged for six years.
What kind of reviews does NatWest have?
NatWest currently holds a review score of 1.4/5 from customers rating all of its products and services on TrustPilot. However, they have fared better elsewhere, scoring 4.385 from mortgage customers on Smart Money People and coming joint 7th out of 22 mortgage lenders, in a survey carried out by Which?, with a customer satisfaction score of 70%.
Pros and cons
The table below offers an overview of the advantages and disadvantages of NatWest as a mortgage lender to give you an idea of whether they are the best option for you.
Advantages |
Disadvantages |
Low deposit mortgages available |
Limited options for newly self-employed borrowers |
Can offer higher salary multiples than some high street lenders |
Not all government schemes supported |
Bad credit mortgages available |
Stringent criteria for properties with some types of non-standard construction |
Options for later-life borrowers, including equity release |
Limited options for borrowers who rely on family support, such as guarantors |
How to compare NatWest mortgages
You can compare NatWest mortgage rates with products from their competitors across the market for free through Teito. We also have mortgage brokers on hand to help you, and they often have access to exclusive deals to include in your comparison.
If NatWest is a lender you are keen on, your broker will offer impartial advice about whether they are the ideal mortgage provider for you, recommending comparable products from other lenders and providing bespoke advice about which one to choose.
Even if you’re an existing NatWest customer who is keen to stick with them, it’s worth comparing what they are offering with every alternative for peace of mind.
Our brokers will offer a free, no-obligation chat to start things off, so you have nothing to lose by finding out how much they could potentially help you save - get started here.
How Teito Works
You have two options when you get started with Teito: you can select the option to speak with an advisor straight away or source a mortgage yourself. If you want to choose your own mortgage deal, follow the steps below:
Click ‘Get Started’
Hit the button below and enter a few quick details. It takes less than 60 seconds to begin the mortgage process with us
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Next you can view rates and deals from across the entire market online and choose the one you want in real time
Apply Online
We’ll take it from here and have an expert mortgage broker on hand to ensure you have chosen the best deal for you
FAQs
NatWest mortgage offers are typically valid for six months. However, in certain situations, they may choose to extend your offer.
If you've had a mortgage offer approved with NatWest but for reasons outside of your control can't complete the purchase or remortgage, you may find that they can extend your mortgage offer by one month so that you have extra time.