Natwest offering 100% Mortgages to Existing Customers

ad9898_3

There are no 100% mortgages on the market.

bob79

adr0ck wrote: »

I've heard that Natwest are offering 100% mortgages to existing customers......anyone got any info on this..............is it true?

According to the website of NatWest this is indeed true:
http://www.natwest.com/personal/mortgages/g3/fixed-rate.ashx#tabs=3
They offer a 5 year fixed rate of 5.04% with no deposit and no fees to existing mortgage costumers. The rate for a similar 10 year fixed is 5.34%. The rate is 0.1% better in both cases if you also have a NatWest current account.

abaxas

Does anyone know the fees?

I'm currently offering 100% LTV on up to £100,000. However the £100,000 application fee might put u off.

Dithering_Dad

I think the key here is Existing Customers. It doesn't mean therefore that it'll kick start the housing market because these mortgages are only available to existing customers, i.e. people who already have houses!

It simply means that anyone who currently has a 100% loan with them will be able to remortgage at a decent rate instead of being on the SVR.

I guess it also means that those who may have had 90% mortgages and are now in negative equity will also qualify for a remortgage and not be on SVR?

Cannon_Fodder

sorry my bad, just spotted tabs at the top of link...

...as per DD, its the section for Existing Customers, with 0.1% off if you have the current account as well.

chucky

who said there was a credit crunch!!

BenL

Well if you are at 100% and have an average priced house better get in quick, what was the figure £600 a week they are going down.

With it being xmas as well by the time it has gone through people might need 103%!!

purch

The rate is 0.1% better in both cases if you also have a NatWest current account.

Wow...........that's generous :eek:

adr0ck

bob79 wrote: »

According to the website of NatWest this is indeed true:
http://www.natwest.com/personal/mortgages/g3/fixed-rate.ashx#tabs=3
They offer a 5 year fixed rate of 5.04% with no deposit and no fees to existing mortgage costumers. The rate for a similar 10 year fixed is 5.34%. The rate is 0.1% better in both cases if you also have a NatWest current account.

thanks for that

so it is true

IveSeenTheLight

Dithering_Dad wrote: »

I think the key here is Existing Customers. It doesn't mean therefore that it'll kick start the housing market because these mortgages are only available to existing customers, i.e. people who already have houses!

It simply means that anyone who currently has a 100% loan with them will be able to remortgage at a decent rate instead of being on the SVR.

I guess it also means that those who may have had 90% mortgages and are now in negative equity will also qualify for a remortgage and not be on SVR?

Very true.
Looks like they are starting on getting their own house in order first.
How long till they consider new customers?