Natwest Remortgage

tunnie123

We are currently on a 2 year fix at 1.8% which is £423 a month, after our second child my wife has given up work to look after the new baby and then retrain as a teacher.

We can afford the mortgage payment but my question is when we go to remortgage in a couple of moths we are going to just do it online again with natwest, will they ask about a change in circumstances or is it really just as simple as clicking a few buttons if we are happy with the price and rate?

thanks

ACG

I can only speak from a broker perspective but when we do product switches for people we log in, tick a few boxes and then they send a form out for you to sign and return.

MrCH

I’m currently sorting mine out so I can tell you exactly what happens

- Login. Gives you description of current mortgage
- mortgage deals at bottom
- next page

Before proceeding you should be aware that not all products are available to switch online. The following pages will only show you any Fixed Rate and/or Tracker products that you may be eligible for. There are, however, other product types you may wish to consider including Standard Variable Rate and Flexible.

Gives you info on variable or flexible

Then you click a box that says you understand what both entail

- click show me available deals
- then it gives you available deals. There was no way to edit these deals. Increase the payment/ reduce the years. I did call up to cancel an agreement we made as we made it 3 months ago when the LTV was 86% and we dropped down to 85% a few days ago making it cheaper. I queried if the term could be changed he said they’d edit it at a £36 fee.

You then select one, choose weather to pay the fee upfront or not and then confirm on the next page.

You then receive an email where you electronically sign your agreement for your new deal.
Confirmation then comes in the post.

tunnie123

Thats great guys thanks very much for the help.

kingstreet

For future readers, the process here is a customer retention product, or a "product transfer."

A remortgage is a new mortgage from a new lender to repay the existing mortgage when not moving home.