Natwest Loan - First Direct

swiftysw

Hi,
I am with Natwest and have a loan with them also.

I am moving banks to first direct..

What will happen to the loan when I close my natwest current account?

Thanks
Simon W

meer53

You will still owe the money. The loan will remain open, you can still make payments. Do Natwest know you are closing your account ? They might have a condition that you have to pay from your Natwest account so i'd ask them first.

R_P_W

What do you think will happen?! Nothing! You still owe the money and payments will remain the same. Make sure that the direct debit for the monthly payment is set up correctly on your new account.

swiftysw

I thought they would tell me that I need to move the loan else where...

R_P_W

The loan and current account are not linked. You can apply for a loan anywhere you like - you don't have to bank with them

meer53

Some loans have conditions attached to them. The OP needs to contact Natwest.