Natwest Remortgage

copnall

First post here!

I currently have my mortgage with Natwest and the introductory period has just finished. I've been shopping around, however I noticed Natwests intro rates for a remortgage were actually very competitive, only problem was the LTV of the house wasn't low enough.

Rang them and decided to get the house revalued in the hope of getting our mortgage below 70% which would open up some great rates, advisor suggested it. Cost me £240.

A few days later the valuer came round and good news the house valuation was increased meaning I'm now in the desired LTV bracket.

After receiving the good news letter, I decided to call them to get it sorted. Unfortunately they're now telling me, the rates have gone up by 0.4% TODAY, which completely defeats the object of doing what I'd just done. The guy on the end of the phone was less than helpful and just said we're able to change our rates whenever we want.

That doesn't sound very fair to me, do I have a leg to stand on?

Funny_old_game

A case of bad timing. Sales staff would not have known quickly rates were changing. I doubt advisor would RECOMMEND you challenge their internal valuation
.
If so and you can prove this you might gave a leg to stand on, if not sit down.
Lesson learned.

kingstreet

If you are already a NatWest borrower, there's no point looking at remortgage rates as these apply to new borrowers only.

You should be looking at customer retention rates, those available to existing borrowers not moving home.

On the reservation issue, did you reserve the rate before embarking on the valuation? If you have remortgaged to a new lender, you would probably have reserved the rate on application and the valuation would have been free.

attila_

Try post office. Good rates at the moment.

Cambridge32

We had the same problem with Natwest 3 years ago. They dragged their heels over our mortgage application process (it took longer than that of our friends) and just before we received the mortgage offer the rates increased by 0.2%.

We were in a rush by then so just had to get on with it. Natwest mortgage services are very difficult to deal with and woe betide the person who attempts to complain as the complaints team are very good at being:

-late for work that day;
-in a meeting;
-on long-term leave;
-on their lunch break.

Etc. whatever time you call them.

Oh, and the telephone number for the mortgage services complaints team changes almost weekly, presumably because of the massive volume of calls that they must receive.

amnblog

attila_ wrote: »

Try post office. Good rates at the moment.

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