FAQs on Existing Mortgages | NatWest

Frequently asked questions

Existing mortgage customers

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Customers with hearing and speech impairments can contact us by using

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Find our most commonly asked questions from our existing customers about mortgages.

Icon expand If I am on SVR or my current deal is ending - how do I change to a new deal?

There are a few ways you can choose between when it comes to looking at new deals.

You can choose to speak to a Mortgage adviser by phone or call to book an appointment to see an adviser at your local branch (details at the bottom of this page) and you can choose a new deal online.

Remember, whichever way you prefer to follow, you can always view your deals here or look for more information on our manage your mortgage page.


Icon expand How do I repay capital with an interest-only mortgage?

Interest-only mortgages pay off only the interest on your mortgage, not the money you borrowed in the first place. In order to repay the capital borrowed, you will need to save money in a separate savings plan. The main options for saving in this way are by using an Individual Savings Account (ISA), an endowment policy or a pension.

Most mortgage products also allow you to make overpayments of up to 10% of your outstanding mortgage balance each year. Check the product details of the mortgage you are interested in for confirmation.


Icon expand What is an early repayment charge and how much is mine?

Most mortgage providers apply an early repayment charge if you decide to end your deal while you're within the deal period. You are typically permitted to repay 10% of the outstanding mortgage balance each year without extra charge. Details of any specific Early Repayment Charge, specific to your mortgage, will be explained on your Mortgage Offer Document

The charge is usually a percentage of the outstanding mortgage balance - for example, 3% of £100,000 (which would be £3,000).

You need to decide whether it's better in the long run to stay on your current deal or to end your deal early and pay the early repayment charge. Get in touch using the details at the bottom of this page to discuss this further.


Icon expand How can I find out my current mortgage balance?

There are a few ways you can check your mortgage balance. You can do this online if you have online or mobile banking, give our dedicated UK-based existing customer team a call (details at the bottom of this page) or log in to our Manage your mortgage online service. 


Icon expand I'm an existing customer, what are my options?

You can switch to a new deal if your existing deal is within 3.5 months of ending or if you're paying the Standard Variable Rate. We have exclusive rates available to existing customers. There's no need for a valuation or credit check unless you want to change the valuation we store for your property at the time of the last application. Please visit the Switching to a new NatWest mortgage deal page for full details.


Icon expand What's the minimum and maximum mortgage term?

The minimum term is dependent on the product you have but is normally not less than 3 years. The maximum term is normally up to the age of 65. We may consider extending the term up to the age of 70, if you are able to evidence that you have sufficient income post retirement. If your retirement age is greater than 65, we will also assess income post 65.


Icon expand Why am I charged a product fee on a new mortgage?

A fee is sometimes charged to secure the rate and the amount of fee may vary depending on the product you choose.

Remember, you can always add your fee to the mortgage - although interest will then be charged on your mortgage balance, including the fee. 


Icon expand How can I compare my NatWest mortgage with other deals?

If you're considering moving to another mortgage provider, don't just look at the monthly repayments.

Many mortgages come with arrangement, legal, valuation and other fees. There could also be an early repayment charge. So although a deal may look cheaper, the truth could be very different.

Simply call us on the details at the bottom of this page or use our Mortgage Calculator to see our current set of deals. 

Helpful banking Protecting your money

We are a member of the Financial Services Compensation Scheme (FSCS). The Scheme can pay compensation to customers if they are eligible and the Bank is unable to pay claims against it. Compensation limits for Mortgage advice and arranging (for business conducted on or after 31 October 2004) - maximum £50,000 i.e. 100% of first £50,000 per person. Further information is available here (650K PDF) or visit www.fscs.org.uk.

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