Natwest mortgage confusion

bossymarmalade

Hello

My mortgage 2 year fixed rate deal with natwest expired last month. I received a letter saying this was so and that if I did not purchase another deal with natwest I would automatically go on to their "natwest standard rate of 4%. I kept hearing a while ago that people were making no money on their savings but their mortgages really low because the Bank of England base rate was so low.

Can anyone tell me if I can be paying the Bank of England base rate?

Am I paying more than I have to?

Many thanks in advance

ACG

You cant pay the bank of england base rate.
The easiest way to think about it is that banks borrow the money off the bank of england, they than have to make a profit - so their rates will always be higher thank the bank of englands.

As to the best rates available, shop around or speak to a broker - you might be able to get a better deal elsewhere.