NatWest broker rates going up from tomorrow (3rd Oct)

thriftypatos

As for direct applications, don’t waste your time. First available call back for part 1 of the application was 12 October for me… in this climate who can afford to wait? It’s borderline misrepresentation because they know the rates advertised won’t be available by the time you get to apply.

K_S

@thriftypatos If he/she is able to submit an application today on the NatWest system for the old product, and gets confirmation from NatWest, then it *should* be secured.

You'll probably hear back soon enough from your broker, hope it's good news!

thriftypatos said:

It’s very confusing because on the one hand it says rates are “immediately effective”, but on the other hand the new rates are applicable from 3 October. So what happens if the broker submits yesterday or today? I’m paying a hefty fee for mine to submit today. If we don’t get the old rate we’ll be paying £40,000 more over 5 years and can’t afford to move.

thriftypatos

K_S said:

@thriftypatos If he/she is able to submit an application today on the NatWest system for the old product, and gets confirmation from NatWest, then it *should* be secured.

You'll probably hear back soon enough from your broker, hope it's good news!

thriftypatos said:

It’s very confusing because on the one hand it says rates are “immediately effective”, but on the other hand the new rates are applicable from 3 October. So what happens if the broker submits yesterday or today? I’m paying a hefty fee for mine to submit today. If we don’t get the old rate we’ll be paying £40,000 more over 5 years and can’t afford to move.

Thanks. Fingers crossed!

mose_2

thriftypatos said:

As for direct applications, don’t waste your time. First available call back for part 1 of the application was 12 October for me… in this climate who can afford to wait? It’s borderline misrepresentation because they know the rates advertised won’t be available by the time you get to apply.

So you have to have an appointment direct? Was looking to do online only? 

K_S

mose_2 said:

thriftypatos said:

As for direct applications, don’t waste your time. First available call back for part 1 of the application was 12 October for me… in this climate who can afford to wait? It’s borderline misrepresentation because they know the rates advertised won’t be available by the time you get to apply.

So you have to have an appointment direct? Was looking to do online only? 

@mose_2 For your requirements (like-for-like remortgage), there might be non-advised execution only online routes to apply which *should not* involve any appointment for submitting a full application. 

thriftypatos

mose_2 said:

thriftypatos said:

As for direct applications, don’t waste your time. First available call back for part 1 of the application was 12 October for me… in this climate who can afford to wait? It’s borderline misrepresentation because they know the rates advertised won’t be available by the time you get to apply.

So you have to have an appointment direct? Was looking to do online only? 

mose_2 said:

thriftypatos said:

As for direct applications, don’t waste your time. First available call back for part 1 of the application was 12 October for me… in this climate who can afford to wait? It’s borderline misrepresentation because they know the rates advertised won’t be available by the time you get to apply.

So you have to have an appointment direct? Was looking to do online only? 

I couldn’t do a single online application because we’re porting existing debt as well as taking out new debt. That’s too complicated for their systems so we had to make an appointment to apply over the phone. If your circumstances are more straightforward then I’d have thought you will be fine with an immediate only application. Good luck!

Emptychangejar

mose_2 said:

thriftypatos said:

As for direct applications, don’t waste your time. First available call back for part 1 of the application was 12 October for me… in this climate who can afford to wait? It’s borderline misrepresentation because they know the rates advertised won’t be available by the time you get to apply.

So you have to have an appointment direct? Was looking to do online only? 

I did an online only application for a new customer remortgage with NatWest yesterday and at the point of submitting my application, the email confirmation says “The rate you've chosen won't change, as long as you return all documents and information within 28 days”

thriftypatos

By the skin of our teeth we got the lower rate - was still available today on the broker’s portal. What a nerve wracking couple of hours going through the application! 

mose_2

Well done. Did it have a complete by date by any chance?

K_S

thriftypatos said:

By the skin of our teeth we got the lower rate - was still available today on the broker’s portal. What a nerve wracking couple of hours going through the application! 

@thriftypatos Very happy for you and well done by your broker!