Natwest - No fee free overpayment options on a fixed mortgage?

beezysoldier

I currently have a mortgage with Natwest that runs out very very soon.
Very eager for a mortgage that allows flexibility with no fees for early repayment and overpayment. They do offer the standard 10% a year overpayment allowed with out charges.
I spoke with a Natwest mortgage advisor about renewing my mortgage and been told by Natwest they do not offer any No fee free overpayment deals for a fixed mortgage?
The only no fees for overpayment are for a SVR mortgage deal.
Has anyone else come across this ludricous ruling with Natwest?

[Deleted User]

There are only a handful of lenders offering unlimited overpayments on fixed rates.  Maybe 5 or 6 i can think of offer some sort of product and they usually arent that competitive

In what way is it ludicrous? You dont like what they offer then you move to a lender who offers it. Thats how a functioning and competitive mortgage market works

K_S

beezysoldier said:

I currently have a mortgage with Natwest that runs out very very soon.
Very eager for a mortgage that allows flexibility with no fees for early repayment and overpayment. They do offer the standard 10% a year overpayment allowed with out charges.
I spoke with a Natwest mortgage advisor about renewing my mortgage and been told by Natwest they do not offer any No fee free overpayment deals for a fixed mortgage?
The only no fees for overpayment are for a SVR mortgage deal.
Has anyone else come across this ludricous ruling with Natwest?

@beezysoldier Yep, that's pretty standard, at Natwest and other lenders. Unlimited fee-free overpayments are more commonly seen on tracker mortgages.

Thrugelmir

beezysoldier said:

Has anyone else come across this ludricous ruling with Natwest?

Why would lenders offer a product that would cost them money?  Not a ruling but a commercial decision. Which is priced into the products available. If you want flexibility be prepared to pay a higher interest rate. Has to be a trade off.