NatWest Mortgage from Metro Bank

JE1991

Hi - we had a mortgage with Metro Bank which was purchased by NatWest in November 2020.

We received letters from both banks advising that there was no change to terms and conditions as a result.

Under the terms and conditions of the Metro bank mortgage we were able to port the mortgage keeping the same interest on the transfer balance.

Now we have come to try and port the mortgage with NatWest they are refusing to allow the mortgage to be ported. Insisting we would need to take out a new product.

Has anyone experienced this or have any advice on it?

Thanks

[Deleted User]

What reason are they giving for not allowing porting? You would need to meet the criteria in place at the time.

JE1991

Just that mortgages from Metro Bank are unable to be ported and we would have to take out a new product. Even though that’s against the terms of the original mortgage which they say haven’t changed. No issues with affordability criteria etc. 

K_S

JE1991 said:

Just that mortgages from Metro Bank are unable to be ported and we would have to take out a new product. Even though that’s against the terms of the original mortgage which they say haven’t changed. No issues with affordability criteria etc. 

@je1991 There's no right to port a mortgage, just the right to apply to port based on the criteria at the time.

Having said that, if there are no affordability and criteria issues and the only reason NatWest are giving is that it can't be ported because it's an ex-Metro product (which was portable), then it might be worth a complaint.

simon_or

OP, don't waste time talking informally to NatWest. Lodge a formal complaint first. Unfortunately, that's sometimes the only way to get your issue to be looked at by someone who can do something about it.