Natwest tracker switch online deal - £100 cashback

cheekydollarJ

Hi,

Some people might be interested in this.

http://www.natwest.com/personal/mortgages/manage-your-natwest-mortgage/switch-online.ashx

I have a 2 year natwest tracker mortgage, and i've seen that i can switch my mortgage onto a fixed rate and get £100 cashback for doing so.

I took out my mortgage in Feb and the current fixed rates are now lower than my original tracker.

I'm 10 months or so in to my deal and this will take me up until march 2016 - and if things stay as they are rates might start to increase in 2016 so hopefully I can fix again before they go up!

Any thoughts most welcome!

Cheers

moneysavinggirl40

cheekydollarJ wrote: »

Hi,

Some people might be interested in this.

http://www.natwest.com/personal/mortgages/manage-your-natwest-mortgage/switch-online.ashx

I have a 2 year natwest tracker mortgage, and i've seen that i can switch my mortgage onto a fixed rate and get £100 cashback for doing so.

I took out my mortgage in Feb and the current fixed rates are now lower than my original tracker.

I'm 10 months or so in to my deal and this will take me up until march 2016 - and if things stay as they are rates might start to increase in 2016 so hopefully I can fix again before they go up!

Any thoughts most welcome!

Cheers

did u have an erc to pay? cos you came out of your original tracker deal?was it much? am interested as i am going for a tracker with natwest and hope to switch online to a new deal with them, i guess u had a product fee for the new fixed deal.. may i ask how easy was it to switch and what was the time frame from the time you applied to actually being accepted.

cheekydollarJ

Hi,

No ERC to pay. It was just a product switch and was really straightforward.

They sent me a letter, and I just had to verbally confirm the switch within two weeks for the mortgage to switch on a date specified by natwest.

moneysavinggirl40

shame i am also with nat west i didn't realise this i knew the fixed rates were lower than my tracker, i assumed that i would have to pay something to get the lower rate, was it a 0 product fee? my tracker is now coming to an end in march so trying best to get to 60% ltv product. i shall certainly look out for lower interest products in the future with nat west if the switch was that easy. Thanks for your post.

moneysavinggirl40

moneysavinggirl40 wrote: »

shame i am also with nat west i didn't realise this i knew the fixed rates were lower than my tracker, i assumed that i would have to pay something to get the lower rate, was it a 0 product fee? my tracker is now coming to an end in march so trying best to get to 60% ltv product. i shall certainly look out for lower interest products in the future with nat west if the switch was that easy. Thanks for your post.

having said that...i wonder if i had gone on to the fix early on in the deal i wouldn't be able to get the lower interest rate tracker product now because i would be fixed in a deal. however i do think it would have been beneficial to have done that switch as i would have qualified for2.05% on a larger borrowed amount instead of 2.65% so gutted which i stuck to pay ! but now going for 1.79% at 60% LTV after paying at 2.65%@ 70%.